In a recent interview, Cardano (ADA) founder Charles Hoskinson made a bold statement, claiming that Bitcoin is not a self-sufficient blockchain and relies on the crypto industry and exchanges for survival. Surprisingly, he also mentioned that the industry no longer needs Bitcoin to thrive.
During the interview conducted last December, Hoskinson expressed his belief that while Bitcoin serves as a digital gold asset, it is not immune to being replaced by another asset with superior technology in the future. He referred to Bitcoin as more of a religion than an ecosystem, emphasizing the need for continuous growth and adaptation to ensure long-term survival.
Debunking the Myth
Despite the resurfacing of this old interview sparking controversy within the crypto community, there is a crucial detail to consider. While Hoskinson’s prediction of Bitcoin’s demise caused a stir, supporters of the leading cryptocurrency came to its defense, labeling Cardano as a “ghost chain” and highlighting the decentralized nature of Bitcoin.
Interestingly, the interview coincided with Cardano’s largest hard fork to date, known as Chang, which aims to achieve full decentralization of the network. The successful implementation of the Chang hard fork signifies a significant milestone for Cardano, as the ADA community and stakers now have control over the network’s management.
It is clear that the debate between Bitcoin and Cardano will continue, with each side advocating for the superiority of their chosen blockchain. Whether Bitcoin can withstand the challenges posed by emerging technologies remains to be seen, but one thing is certain – the crypto landscape is constantly evolving, and investors must stay informed to make sound financial decisions.