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Cryptocurrency News Articles

Charles Hoskinson Envisions a Future Where Bitcoin-DeFi Integration Is Made Seamless Through Cardano's Technology

Nov 26, 2024 at 10:00 pm

Charles Hoskinson, the founder of Cardano, envisions a future where Bitcoin-DeFi integration is made seamless through Cardano's technology.

Charles Hoskinson Envisions a Future Where Bitcoin-DeFi Integration Is Made Seamless Through Cardano's Technology

Cardano founder Charles Hoskinson envisions a future where Bitcoin and decentralized finance (DeFi) integration is made possible by Cardano’s technology.

In a post on X shared on Tuesday, Hoskinson expressed his admiration for Bitcoin’s design and purpose, comparing it to “a reunion with a childhood friend.” He highlighted Bitcoin’s role in inspiring him to join the blockchain space.

“Just a brief reminder, having been around for a very long time and having read a lot of the early source code for Bitcoin, it's easy for me to get back into the mindset of Bitcoin's design and purpose,” wrote Hoskinson.

“It's like a childhood friend that I lost touch with and re-discovered. I can quickly understand the motivations behind the Bitcoin community and its users.”

Hoskinson went on to propose a new ecosystem for hybrid applications, which would be built on Bitcoin and powered by Cardano. This integration would allow users to seamlessly access DeFi applications without needing to use other tokens, as it would rely solely on Bitcoin.

A key aspect of this proposal is Cardano’s ‘Babel fees’ mechanism, which enables users to transact with their native tokens without having to convert them into other currencies. This simplifies the process and enhances usability for diverse blockchain ecosystems.

Hoskinson also praised the core developers of Bitcoin for advancements like Taproot, which improved Bitcoin’s scalability and privacy. He expressed his belief that Cardano can help Bitcoin regain “innovation prominence,” which would ultimately benefit both blockchains.

“Together, we can weave a tapestry of innovation that will redefine the possibilities of blockchain technology,” added Hoskinson.

“I want to collaborate with key players from other ecosystems to make this happen. Let's connect our old friends and weave this tapestry.”

This statement aligns with Hoskinson's recent meetup with Ripple CEO Brad Garlinghouse, which sparked rumors of a potential partnership between Cardano and Ripple.

As previously reported by Coin Edition, Hoskinson намекнул на планы Cardano по интеграции DeFi, намекая на сотрудничество с Ripple.

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News source:coinedition.com

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