Cardano Founder Charles Hoskinson’s Thoughts on Bitcoin

Recently, an interview surfaced in which Cardano (ADA) founder Charles Hoskinson stated that Bitcoin is not a self-sufficient blockchain. He argued that Bitcoin relies on the crypto industry and exchanges to survive, while the industry itself no longer needs Bitcoin.

The interview took place in early December, but garnered attention this September after a follower questioned Hoskinson’s current stance on Bitcoin. Unsurprisingly, his views remain unchanged.

Hoskinson posited that while Bitcoin can act as a form of digital gold, it could be supplanted by another asset possessing superior technology. He also referred to Bitcoin as a ‘religion’ rather than an ecosystem, emphasizing that the leading cryptocurrency needs to evolve to endure long-term.

Community Reactions

Despite the interview’s age, its resurgence triggered significant reactions within the crypto community. Notably, while Hoskinson predicted Bitcoin’s gradual decline, many defended Bitcoin, labeling Cardano as a ‘ghost chain.’

Interestingly, the interview coincided with Cardano’s largest hard fork to date, named ‘Chang,’ which aims to enhance the platform’s decentralization. The hard fork was successfully implemented yesterday at 9:45 p.m. UTC, enabling the ADA community and stakers to take control of network management.

This article was originally published on U.Today