Hoskinson Says Bitcoin DeFi Under Cardano Blockchain Ecosystem Will Surpass ETH & Sol DeFi
Charles Hoskinson is now highly bullish on Bitcoin (BTC) integration within the Cardano blockchain ecosystem as Cardano partners with BitcoinOS.
Charles Hoskinson, the founder of Cardano blockchain and co-founder of Ethereum blockchain, left the Ethereum project in 2013 to develop a new blockchain model. After years of work, he launched the Cardano blockchain network in 2017. Hoskinson is known for focusing on practical applications and innovations to drive the adoption of Cardano, without merely following market trends.
On 24 Oct 2024, the Cardano blockchain integrated the BitcoinOS Grail Bridge, unlocking decentralised programmability and scalability for Bitcoin.
This development now allows Bitcoin transactions on the Cardano blockchain network. To ensure the security of funds, the BitcoinOS team employs Zero-Knowledge Proofs (ZK-proofs).
ZK-proofs allow someone to prove they know specific information (like a solution to a mathematical problem) without revealing the information itself. In Bitcoin’s case, ZK-proofs verify transaction details or computations without exposing sensitive data, enhancing privacy and security.
By verifying ZK-proofs on the Bitcoin mainnet, BitcoinOS has demonstrated that Bitcoin transactions can be scaled with greater privacy and efficiency. This advancement enables Bitcoin to handle more transactions and complex functionalities without altering its core code (no soft fork needed), opening up new possibilities for applications and faster, more private transactions.
On 25 Oct 2024, Cardano founder Hoskinson expressed his excitement about the integration of Bitcoin into the Cardano ecosystem. He mentioned plans to re-launch a Bitcoin education project in 2025, which will also provide training for Bitcoin developers, helping them to create Cardano/Bitcoin DeFi applications.
In closing, Hoskinson predicted that Cardano with Bitcoin will “dwarf anything Solana and Ethereum have done.”
