Ethereum and Solana’s dominance of DeFi is about to end, well, at least according to Cardano’s Charles Hoskinson. In a post on Twitter/X on October 25, the Cardano co-founder claimed that DeFi is coming to Bitcoin, and it will be bigger than Ethereum and Solana.
Hoskinson’s bold statement comes days later Cardano and Bitcoin Agreed to use smart contract features in the Bitcoin ecosystem. Hoskinson shared that the new collaboration will pave the way for DeFi projects on the Bitcoin ecosystem and “dwarfs” developments at Solana and Ethereum.
DeFi goes to Bitcoin
In a tweet, Hoskinson said he was ready to help advance the integration process Decentralized finance Projects in the Bitcoin ecosystem. He added that training courses for BTC developers are in the works, with a focus on Aiken, a programming toolkit and language for designing and deploying smart contracts on Cardano.
Now that Bitcoin is back in the family and innovating again, thanks @BTC_OSI will relaunch the Bitcoin Education Project in 2025 and produce a new version of my course. We will also be setting up Aiken Education for Bitcoin Developers, including hosting on…
– Charles Hoskinson (IOHK_Charles) October 25, 2024
Hoskinson says the training will help developers create and deploy smart contracts compatible with the Bitcoin and Cardano ecosystems. BTC transaction fees. Specifically, Bitcoin will be manufactured through Babel Fees, a “global currency converter” that allows users to pay fees for coins other than ADA. Hoskinson also shared that he will continue teaching Bitcoin and plans to revitalize the Bitcoin Education Project.
Hoskinson’s sudden transformation
Hoskinson’s latest post about Bitcoin was a slight surprise to many cryptocurrency enthusiasts and observers. The Cardano co-founder has not been a major backer of Bitcoin after taking a hit on the blockchain a few months ago. In a video message shared last May, he stated that the industry no longer needs Bitcoin. He also added that Bitcoin cannot survive without the cryptocurrency sector.
– Charles Hoskinson (IOHK_Charles) October 25, 2024
Hoskinson was also dissident a few days ago, saying that Cardano will soon overtake Bitcoin. Ethereum was not spared either, saying it would face the same fate. However, the recent collaboration between Cardano’s EMURGO and Bitcoin changed everything, and now, Hoskinson is praising Bitcoin.
Vladimir Kazakov | Getty Images
Bitcoin just needs to be approved
While many observers viewed Hoskinson’s initial view on Bitcoin as combative, others saw a different picture. To some, Hoskinson simply pointed out the need for the Bitcoin ecosystem to adapt to changes, otherwise it would lose its edge as a major blockchain project.
Now that the Bitcoin platform is open to decentralized finance, Hoskinson is understandably excited and ready to help. This latest collaboration between BitcoinOS and EMURGO will bridge the gap between the two ecosystems, which could provide a significant boost of liquidity to Cardano. Additionally, this latest agreement makes Cardano the first layer-one blockchain to utilize BitcoinOS’s interoperability features.
Featured image from usauthor.com, chart from TradingView