Ethereum and Solana’s hold on DeFi is coming to an end, at least according to Cardano’s Charles Hoskinson. In a Twitter/X post on October 25th, Cardano’s founder said fixed currencies are coming to Bitcoin, and they will be bigger than Ethereum and Solana.
Hoskinson’s bold statement comes days after Cardano and Bitcoin agreed to implement smart contract features in the Bitcoin ecosystem. Hoskinson shared that the new collaboration will pave the way for DeFi projects in the Bitcoin ecosystem and “developments” in Solana and Ethereum.
DeFi goes to Bitcoin
In a tweet, Hoskinson said he is ready to help drive the integration of DeFi projects into the Bitcoin ecosystem. He added that training sessions for BTC developers are on the way, focusing on Aiken, a programming toolkit and language for designing and issuing smart contracts on Cardano.
Now that Bitcoin is back in the family and innovating again, thank you @BTC_OSI will relaunch the Bitcoin Education Project in 2025 and produce a new curriculum for my courses. We will also prepare an Aiken education for Bitcoin developers, including hosting on…
— Charles Hoskinson (@IOHK_Charles) October 25, 2024
Hoskinson says the training will help developers build and implement smart contracts compatible with the Bitcoin and Cardano ecosystems. Transaction fees are in BTC. Specifically, Bitcoin will be made through Babel payments, a “universal currency converter” that allows users to pay for coins without ADA. Hoskinson also shared that he will continue to teach Bitcoin and plans to revive the Bitcoin Education Project.
Hoskinson’s Emergency Conversion
Hoskinson’s recent post on Bitcoin was a bit of a surprise to many crypto enthusiasts and observers. The founder of Cardano was not the biggest supporter of Bitcoin after taking a jab at the blockchain a few months ago. In a video message shared last May, he said the industry no longer needed Bitcoin. He also added that Bitcoin cannot survive without the crypto sector.
— Charles Hoskinson (@IOHK_Charles) October 25, 2024
Hoskinson was also controversial a few days ago, saying that Cardano will soon overtake Bitcoin. Ethereum also did not survive, he said it will face the same fate. However, the recent cooperation between EMURGO Cardano and Bitcoin changed everything, and now, Hoskinson sings the praises of Bitcoin.
Vladimir Kazakov | Getty Images
Bitcoin Just Needs to be Discovered
While many observers took Hoskinson’s first take on Bitcoin as combative, others saw a different picture. For others, Hoskinson is simply referring to the need for the Bitcoin ecosystem to adapt to changes, or it will lose its value as the first blockchain project.
Now that the Bitcoin platform is open to DeFi, Hoskinson is understandably excited and ready to help. This latest collaboration between BitcoinOS and EMURGO will bridge the gap between the two ecosystems, which can bring a huge liquidity boost to Cardano. In addition, this latest agreement makes Cardano the first Layer 1 blockchain to implement the interoperability features of BitcoinOS.
Featured image from usauthor.com, chart from TradingView