founder of Cardano, Charles Hoskinson, boldly predicted at the 2023 Rare Evo conference that ADA would become the largest cryptocurrency in the world. at recent days interviewHe offered some insight into why he thinks this will happen Cardano flips Bitcoin On its way to achieving this status.
Why Can Cardano (ADA) Upend Bitcoin?
Hoskinson alluded to Current development of the Cardano ecosystem As a reason why he believes Cardano can turn around Bitcoin. He claimed that there would be no way to beat Cardano if they achieved their vision. Moreover, he noted that the ADA has already reached some level Satoshi Nakamoto They started, but they don’t stop there.
the Founder of Cardano He stated that the ADA attempts to change the world’s political, social, and economic systems. Hoskinson believes ADA is bound to outperform the market as it continues to build a “growth engine” that can onboard more people without losing its existing users, and one that can also “ingest” all of its competitors’ technologies.
He suggested that ADA could become a trillion-dollar ecosystem by accommodating billions of people and standing out from its competitors. Hoskinson also highlighted the role of the Cardano community in achieving this status. He revealed how different teams are currently working On board different governments On the Cardano network.
Furthermore, he mentioned that many decentralized applications (dApps) are currently being built on Cardano network, each featuring great teams working together to create something meaningful. The key, Hoskinson claimed, is to empower these teams to achieve exponential growth. Once that happens, he believes they can come together as a community to achieve “the next step,” which is what turns Bitcoin around.
Bitcoin is “paused”
Hoskinson He mentioned that Bitcoin has “stalled,” which is another reason he believes Cardano can easily flip Bitcoin. He noted that Bitcoin’s only value proposition is that it is “big and successful.” He said people don’t use Bitcoin because it has a new technology or capability. Interestingly, he likened Bitcoin to Yahoo, MySpace, and Microsoft Windows, noting that they also have this value proposition of being “big and successful.”
Hoskinson suggested that Bitcoin value display It will likely fail sooner rather than later, as he hinted at how these other brands will fade over time. He also claimed that Bitcoin’s value proposition is “Digital gold“At some point it will reach its maximum once the main cryptocurrency is evenly distributed and everyone owns a piece of it.
On the other hand, he claimed that a platform like Cardano, which features facilities like Smart contract functionality It could become the voting system in every country around the world, and is undoubtedly more valuable than Bitcoin. He also noted that Cardano is already on its way to becoming a platform for all financial, political and social needs, seeing as how it is already embracing complete decentralization with Chang Hard Fork.
Featured image from Medium, chart from Tradingview.com
