Founder of Cardano, Charles Hoskinson, boldly predicted at the 2023 Rare Evo conference that ADA will be the world’s largest cryptocurrency. The latest interviewgave insight into why he believed that would happen, with Cardano replaces Bitcoin on the way to achieving that status.
Why Cardano (ADA) Can Flip Bitcoin
Hoskinson refers to Current development of the Cardano ecosystem as the reason you believe that Cardano can browse Bitcoin. He said there will be no way to beat Cardano if they achieve their vision. In addition, he noted that the ADA has already lived up to that Satoshi Nakamoto they started, but they don’t stop there.
I Founder of Cardano said that the ADA is trying to change the political, social, and economic systems of the world. Hoskinson believes that ADA will definitely grow beyond the market as it continues to build a “growth engine” that can absorb more people without losing its existing users and can “absorb” all the technology of its competitors.
He suggested that the ADA would be a multi-billion dollar natural site by riding on billions of people and differentiating it from its competitors. Hoskinson also highlighted the role of the Cardano community in achieving this status. He revealed how different groups are currently working different governments on the Cardano network.
In addition, he mentioned that several dApps are currently being developed The Cardano network, each team boasts amazing teams working together to create something meaningful. Hoskinson said the key is to empower these groups to grow exponentially. Once that happens, he believes they can come together as a community to reach the “next step,” which is Bitcoin mining.
Bitcoin is “Static”
Hoskinson he said Bitcoin is “static,” which is another reason he believes Cardano can easily top Bitcoin. He noted that Bitcoin’s only proposition is that it is “big and successful.” He said that people are not using Bitcoin because it has new technology or ability. Interestingly, he compared Bitcoin to Yahoo, MySpace, and Microsoft Windows, saying that they also have this proposition of being “big and successful.”
Hoskinson suggested that Bitcoin value proposition it will probably fail sooner rather than later, as he refers to how these other species die out over time. He also stated that Bitcoin’s value proposition as “digital gold” will come at a time when the best crypto is equally distributed and everyone owns a little.
On the other hand, he said that a platform like Cardano, with services like smart contract functionality and it can be a voting system for all countries around the world, it is undoubtedly more important than Bitcoin. He also suggested that Cardano is already on its way to becoming the go-to platform for all financial, political, and social needs, seeing as how it has already embraced complete decentralization. Change the Hard Fork.
Featured image from Medium, chart from Tradingview.com
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