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Cardano Ecosystem

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05/06/2024

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Cardano Founder Considers Partnership With Bitcoin Cash - What Is It About? | Bitcoinist.com

Cardano’s (ADA) founder, Charles Hoskinson, recently raised the possibility of Cardano partnering with Bitcoin Cash. He noted how significant this partnership could be for Bitcoin Cash as it would put it...

Cardano Founder Considers Partnership With Bitcoin Cash - What Is It About? | Bitcoinist.com

Cardano’s (ADA) founder, Charles Hoskinson, recently raised the possibility of Cardano partnering with Bitcoin Cash. He noted how significant this partnership could be for Bitcoin Cash as it would put it ahead of networks like Bitcoin. 

Hoskinson conducted a “hypothetical poll” on his X (formerly Twitter) platform, asking his followers if they would like to see Bitcoin Cash become a Cardano “partnerchain.” He noted that this partnership would upgrade Bitcoin Cash with “Useful Proof of Work Leios, NiPoPoWs, and Ergo tech.”

Hoskinson further claimed that the partnership would make Bitcoin Cash the “fastest and most useful proof of work chain (PoW) ever built.” At the time of writing, over 13,000 people have voted on the poll, with 67.7% voting in favor of the partnership. Ben Scherrey, founder and CTO of blockchain firm Biggest Lab, also supports the move, noting how both chains share similarities. 

He stated in an X post that he “always thought there was some natural synergy between the two chains given the shared UTXO model that allows for high scalability and decentralization.” Meanwhile, it is worth noting that Bitcoin Cash is already known to have an edge over Bitcoin as it is faster, cheaper, and more scalable. 

Therefore, Hoskinson’s claim that Bitcoin Cash will become the fastest and most useful PoW may be valid. Upgrading Bitcoin Cash with PoW Leios and Ergo tech means the network can process transactions faster and have a more efficient smart contract functionality. However, the concept of making Bitcoin Cash a Cardano “partnerchain” is still unclear, considering that they operate different consensus mechanisms

Cardano Also Set To Undergo Two Major Upgrade

Cardano is also set to experience two significant upgrades. One is the Chang hard fork, which the network plans to carry out this quarter. This will promote decentralized governance on the blockchain as Cardano shifts to a community-driven governance model. Given the criticism that Hoskinson has prevented the network from progressing, this could change the outlook of the network. 

Specifically, Tom Dunleavy, Partner and Chief Investment Officer (CIO) at MV Capital, once called Hoskinson a “megalomaniac” who is “unwilling to change or adapt to the ecosystem.” Therefore, with the community having more control, there could be changes in the network that could help it adapt to the ecosystem. 

The second upgrade is the introduction of the Ouroboros Leios protocol, which will also take place this year. This upgrade is expected to enhance Cardano’s scalability and efficiency. Hoskinson noted that this development is a big step towards solving the blockchain trilemma of security, scalability, and decentralization. 

Cardano price chart from Tradingview.com

ADA price slips toward $0.45 | Source: ADAUSDT on Tradingview.com

Featured image from Forbes, chart from Tradingview.com

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Scott Matherson

Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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