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Cardano Ecosystem

Blaze Trends

08/28/2023

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Cardano in 1st place? Founder predicts the future of Bitcoin

Cardano (ADA) is considered a so-called Ethereum (ETH) killer in the crypto world, which could dethrone the currently largest altcoin. Both are so-called layer-1 Blockchains hosting all kinds of decentralized apps or dApps. Cardano founder Charles Hoskinson is betting even bigger, however, and posits that the altcoin can also outperform Bitcoin (BTC) in market cap. […]

Cardano in 1st place?  Founder predicts the future of Bitcoin

Cardano (ADA) is considered a so-called Ethereum (ETH) killer in the crypto world, which could dethrone the currently largest altcoin. Both are so-called layer-1 Blockchains hosting all kinds of decentralized apps or dApps. Cardano founder Charles Hoskinson is betting even bigger, however, and posits that the altcoin can also outperform Bitcoin (BTC) in market cap.

New Crypto King on the Way?

Hoskinson, also CEO of Cardano’s development company Input Output Global (IOG), appeared very optimistic about Cardano’s future during a speech at the Rare Evo conference. He published a bold prediction that Cardano will eventually overtake Ethereum and even Bitcoin to become the number one cryptocurrency by market cap.

Hoskinson pointed out in his speech that Cardano aspires to become more than just a cryptocurrency. In his view, it will lay the foundation of a new digital nation where trust will be revived and integrity will be inherent.

Central to Hoskinson’s rosy prognosis is Cardano’s particular commitment to on chain governance. You may have heard about the upcoming “Voltaire” era, which is likely to take Cardano decentralization to a new level. Ultimately, the users of the network must control the network through a democratic system backed by blockchain technology.

However, to become the king of the crypto industry, there is still work to be done. It currently ranks seventh with a total market cap of around $9.2 billion. However, Hoskinson’s ambitious forecast is obviously not short-term.

Critical of Bitcoin and Ethereum

At the same time, the crypto pioneer primarily criticizes the governance models of Bitcoin and Ethereum. First, he noted that Bitcoin’s unmodified design, which has functioned similarly in this regard for more than thirteen years, could become a vulnerability in the long run.

Additionally, Hoskinson has criticized Ethereum’s leadership for feasibility on chain governance rejected. He believes that adopting on-chain governance can only be to their advantage as crypto platforms grow and welcome millions of users.

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