In a recent interview, Charles Hoskinson, the founder of Cardano, discussed the strategy for integrating Bitcoin into the Cardano ecosystem and the impact of these changes on ADA's price.
Bitcoin Integration Strategy in Cardano
Hoskinson shared plans for enabling Bitcoin DeFi through Cardano's infrastructure. "We are working with Fargate on something called BitVMX," he explained. "It's a RISC-V processor, and basically, you can compile code to it, then transpile it to Bitcoin script, and then embed that in Taproot." This technology would allow Bitcoin users to utilize Cardano's smart contract capabilities while remaining in the Bitcoin ecosystem.
Addressing Critique and Cardano's Achievements
Hoskinson responded to criticisms directed at Cardano, emphasizing that the network has operated for seven years without downtime. He noted that the "Edinburgh Decentralization Index" labels Cardano as the most decentralized cryptocurrency on the planet. He also mentioned a multi-billion dollar treasury of Cardano under community control, amounting to $1.5 billion.
Future Predictions and Regulatory Changes
The founder of Cardano expressed hope that new regulatory initiatives would positively impact ADA's price. He alluded to two key bills under consideration, suggesting that major tech companies would soon start integrating cryptocurrency features into their products. "Once these bills pass, companies like Apple and Microsoft will say, 'Hey, we're crypto now,'" he remarked.
The potential integration of Bitcoin and Cardano could attract investor attention and increase interest in ADA, while new regulatory initiatives may foster further development in the cryptocurrency market.
