Cardano Founder’s Shocking Bitcoin Statement
Charles Hoskinson, the founder of Cardano, has weighed in on Bitcoin with some noteworthy remarks. Hoskinson, having observed a recurring narrative over the past decade following Bitcoin halving events,...
Charles Hoskinson, the founder of Cardano, has weighed in on Bitcoin with some noteworthy remarks.
Hoskinson, having observed a recurring narrative over the past decade following Bitcoin halving events, points out a consistent challenge that Bitcoin Layer 2 (L2) ventures face.
Bitcoin L2 Challenges and Innovations in Ethereum and Cardano
He stated that Bitcoin’s inability to change enough to support the important parts of a dynamic L2 ecosystem makes things hard.
Having been around for more than ten years, I have seen this narrative thrice. It follows the halving.
Every L2 venture will learn that it's impossible because Bitcoin cannot change enough to support the things required for a vibrant L2 environment. Both Ethereum and Cardano… https://t.co/56jbfCax4U
— Charles Hoskinson (@IOHK_Charles) February 4, 2024
Similarly, Hoskinson compares Bitcoin to Ethereum and Cardano, pointing out how those two always work to improve and give developers more choices for implementing efficient, reliable, and safe L2 solutions.
He backs up his point of view by pointing out that Cardano’s Plutus V3 now supports BLS and that the ongoing projects Hydra and Mithril are very important to the company’s technical and business growth. In the same way, Ethereum’s main protocol plan makes it clear that its L2 ecosystem is thriving.
Hoskinson says that the fact that Bitcoin hasn’t experienced any major changes or new features could make it very hard to reach some goals with Bitcoin L2s. He says these kinds of projects usually need centralized or federated systems.
A tweet from Muneeb, co-founder of Stacks, a Bitcoin Layer 2 service, sparked these thoughts from Hoskinson. He shared conversations from the Satoshi Round Table in Dubai. Some themes discussed at the event were Bitcoin L2s, BitVM, peg security, and Bitcoin DeFi.
In response, the co-creator of Stacks is optimistic about the growth of Bitcoin Layer 2. He thinks a $100 billion market cap is too low, given the potential for programmable L2 solutions to open Bitcoin’s full potential.
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