Charles Hoskinson, the prominent figure behind Cardano, recently revealed some interesting thoughts on X. Through what he termed a hypothetical poll, Hoskinson asked crypto enthusiasts if Cardano and Bitcoin Cash should integrate.
The response was swift; within the first 24 hours, the poll garnered over 12,000 votes, with 66.3% supporting the potential collaboration.
Hoskinson’s Vision to Integrate ADA and BCH
Hoskinson’s proposal, while labeled as hypothetical, nonetheless holds some significance. This is because influential figures like Elon Musk have used similar polls on social media platforms to influence decision-making processes.
Interestingly, the vision outlined in the poll extends beyond mere integration. It envisions Bitcoin Cash evolving into what Hoskinson terms a Cardano Partnerchain, equipped with cutting-edge features to enhance speed and functionality.
The endorsement of Ben Scherrey, founder and chief technology officer of blockchain firm Biggest Lab, adds credibility to the proposal. He highlighted the natural synergy between Cardano and Bitcoin Cash, particularly noting their shared UTXO model, which enables scalability and decentralization.
However, despite the evident enthusiasm within the community, numerous challenges lie ahead. The technical demands for bridging Bitcoin Cash to accommodate the proposed upgrades present a significant challenge. Moreover, achieving consensus among stakeholders and developers will be paramount for the success of such a venture.
Notably, Hoskinson’s initiative comes at a crucial juncture for Cardano as the project gears up for two major upgrades slated for 2024.
The first is the impending Chang hard fork, scheduled for the second quarter. The second is the introduction of the innovative proof-of-stake model, Ouroboros Leios; both upgrades mark significant milestones for the project.
Hoskinson Addresses Negative View of Cardano
Hoskinson’s confidence in these developments is evident in his recent response to crypto influencer Ben Armstrong. Also known as Bitboy, Ben Armstrong expressed skepticism about Cardano’s resilience and potential for growth, which Hoskinson thought wise to address.
Armstrong drew parallels between Cardano and other expanding projects like Solana, Sui, and Toncoin, commending their rapid growth and vibrant ecosystems. In contrast, he noted a perceived stagnation in Cardano’s activity levels, user base, and price performance, dubbing the numbers “not fantastic.”
Hoskinson countered this perception by stating that market participants have allowed short-term trends to dictate how the crypto industry operates. He drew attention to similar challenges faced in artificial intelligence.
The conversation surrounding Cardano’s trajectory even attracted more sentiments. Daniel Friedman, the founder and CEO of zenGate Global, emphasized the importance of rational decision-making over emotional reactions.
He cited a personal example of building on Ergo and Cardano. This decision stemmed from a strategic assessment of business and architectural considerations rather than giving in to emotional biases.
Echoing similar sentiments, Dan Gambardello, founder of Crypto Capital Venture, attributed the prevailing fear, uncertainty, and doubt (FUD) to ADA’s current price performance. He noted that even strong proponents of Cardano are not immune to concerns about price fluctuations.
Gambardello further suggested that a resurgence in ADA’s value could mitigate such sentiments. In the meantime, ADA’s price holds at $0.4593, a 0.35% increase since the last 24 hours.
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