Cardano’s Charles Hoskinson mulls partnership with Bitcoin Cash

by

As an analyst with a background in blockchain technology and cryptocurrency markets, I’ve closely followed the developments in the Cardano (ADA) and Bitcoin Cash (BCH) ecosystems. Charles Hoskinson’s recent hints at potential collaboration between ADA and BCH have piqued my interest, given the distinct differences in their philosophies and use cases.

Cardano founder Charles Hoskinson has hinted at teaming up with Bitcoin Cash (BCH).

On May 4th, Hoskinson initiated a discussion on the X platform by proposing a potential collaboration between Cardano (ADA) and Bitcoin Cash. He sought opinions from the community regarding the implementation of advanced technologies such as Proof of Useful Work (PoUW), Non-Interactive Proofs of Proof-of-Work (NIPoPoW), and Ergo technology, which could potentially enhance Cardano’s performance.

According to Hoskinson, these upgrades could position BCH as the fastest and most practical proof-of-work blockchain in existence.

Hypothetical Question:

Would you be in favor of Bitcoin Cash evolving into a partner chain of Cardano, integrating Proof of Work algorithms like Useful Leios, NiPoPoWs, and Ergo technology, making it the fastest and most beneficial Proof of Work chain in existence?

— Charles Hoskinson (@IOHK_Charles) May 4, 2024

As of now, the poll with six remaining days to go has received over 11,800 votes. Approximately two-thirds (66%) of these voters express a desire for the collaboration between Bitcoin Cash and Cardano to materialize.

The day prior to posting the poll, Hoskinson reached out on X to engage Bitcoin Cash community members about the current state of development and upcoming priorities for the BCH network.

I’m eager to learn about the upcoming plans for Bitcoin Cash. Could someone from the Bitcoin Cash community kindly provide me with updates on the development front and share some of the imminent projects or priorities?

— Charles Hoskinson (@IOHK_Charles) May 3, 2024

Following a dispute with Michael Saylor, the chairman of MicroStrategy who is a strong advocate for Bitcoin (BTC), Hoskinson has recently expressed his support for Bitcoin Cash (BCH).

Disagreement arose following Saylor’s assertion that certain altcoins such as Cardano, Solana (SOL), Ripple (XRP), and Binance Coin (BNB) would be labeled as unregistered securities by the Securities and Exchange Commission (SEC) during the summer.

As a crypto investor, I’ve noticed Saylor making headlines for his perspective on altcoins and their potential acceptance by Wall Street. He reportedly expressed skepticism, stating that these digital assets may never gain the same level of approval as Bitcoin has following the SEC’s approval of spot Bitcoin ETFs in January.

Hoskinson responded boldly to Saylor’s remarks on X, asserting that Cardano is capable of managing any challenges. With a touch of irony, the creator of Cardano playfully criticized Bitcoin zealots for dismissing other digital currencies as “illegal and deceitful.”

Bitcoin Supporters: “What’s Charle’s issue with Bitcoin? altcoins’ community can be quite hostile.”

— Charles Hoskinson (@IOHK_Charles) May 3, 2024

In 2017, Bitcoin Cash emerged as a result of intense and at times contentious debates among Bitcoin community members over the best approach to expand the capacity of the blockchain.

Members of the Bitcoin community often refer to it as “digital gold” due to its perceived value and security features. They prioritize its decentralized nature over concerns such as higher transaction fees and limitations for making payments.

From a contrasting perspective, proponents of Bitcoin Cash view it predominantly as a digital currency. They are confident that BCH can hold its own in transactions while preserving its fundamental attributes and values.

Read More

2024-05-05 17:52