Cardano founder Charles Hoskinson discusses Cardano’s flexibility, governance, and potential to surpass Bitcoin due to its adaptability and innovative approach.
In a recent YouTube video, Charles Hoskinson, the founder of Cardano, laid out his vision for why Cardano could eventually surpass Bitcoin.
Hoskinson attributes this potential to Cardano’s flexibility, decentralization, and effective governance, comparing its adaptability to the rigidity of companies like BlackBerry, which failed to evolve and eventually became obsolete.
The Actual Reason #Cardano Will Flip Bitcoin? | Charles Hoskinson Interview Clip
WATCH: https://t.co/S6ytJhMamG pic.twitter.com/R20u0gHowi
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He also argues that the only value proposition Bitcoin has is because it’s big and successful. Last month, the Cardano founder asserted that Bitcoin cannot survive without the broader crypto market. He contended that BTC could be replaced by another “digital gold” with similar properties.
Flexibility and Governance as Key Differentiators
Hoskinson highlights Cardano’s ability to absorb new technology and adapt to changing competitive realities as a crucial factor in its potential success. He argues that while Bitcoin can be compared to gold, Cardano’s focus on first principles thinking, Edinburgh decentralization, measure decentralization, and on-chain governance sets it apart.
The industry leader emphasizes that good governance is vital for long-term success, citing examples from the tech industry where poor governance led to the loss of market share for companies like Microsoft. Cardano’s approach, he believes, empowers individuals and communities to build and launch new projects, contributing to a thriving ecosystem.
Cardano’s Resilience and Upcoming Milestones
Hoskinson also addressed the skepticism surrounding the project recently, asserting that Cardano is here to stay amid widespread fear, uncertainty, and doubt (FUD). He pointed out the significant disconnect between Cardano’s actual progress and the portrayal by crypto influencers and the media.
Notably, Cardano is on the brink of a major milestone with the upcoming Chang hard fork, scheduled for this quarter. This hard fork will usher in a new era of governance for Cardano, a result of years of rigorous testing and community participation.
Additionally, the Cardano community is experiencing rapid growth in decentralized applications (dApps), indicating a thriving ecosystem gaining traction among developers and users.
Current Market Performance
Meanwhile, at press time, Cardano (ADA) is changing hands at $0.4128 amid a mild 0.32% gain over the past day. It also boasts a 24-hour trading volume of $185,782,743. However, over the past week, ADA has seen a 6.46% decline, with a current market cap of $14.6 billion, making it the 10th largest crypto asset.
In comparison, Bitcoin (BTC) is priced at $66,452.76, marking a 0.43% price increase in the last 24 hours and a -4.61% decline over the past week. BTC currently has a 24-hour trading volume of $14,426,845,233.53. Bitcoin’s market cap currently stands at $1,310,007,732,209.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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