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Bitcoin

Cardano Founder Says DeFi in Bitcoin Will Dwarf That of Ethereum and Solana

By admin
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Cardano Founder Says DeFi in Bitcoin Will Dwarf That of Ethereum and Solana

Cardano founder Charles Hoskinson believes the DeFi coming to the Bitcoin ecosystem through the latest partnership between EMURGO and BitcoinOS will “dwarf” those seen in Ethereum and Solana.

A few days after Cardano and BitcoinOS collaborated to bring smart contract features to the Bitcoin network, Hoskinson is already making bold statements. In a tweet on October 25, the Cardano founder claimed that the decentralized finance ecosystem set to spill into the Bitcoin network will dwarf that of Ethereum and Solana.

Hoskinson Teases DeFi on Bitcoin Network

The Cardano co-founder tweeted that he intends to help drive the full incorporation of DeFi on the Bitcoin network. To achieve this, he plans to arrange training sessions for Bitcoin developers on using Aiken, a programming language and toolkit for developing and deploying smart contracts on the Cardano network.

Hoskinson noted that the training will aid Bitcoin developers in creating and deploying DeFi applications compatible with both Cardano and Bitcoin and pay their transaction charges in Bitcoin. Notably, the Bitcoin fee payment will be possible with Babel fees, an interoperability mechanism that allows network participants to pay charges on Cardano with other coins not native to the blockchain.

Meanwhile, Hoskinson noted he will resume teaching about Bitcoin like he did in 2013. He stated he will relaunch the Bitcoin Education Project and produce a new course next year.

A Sudden Change of Heart

Hoskinson’s comments on developing the Bitcoin network came a few months after he took a jab at the blockchain. He stated in a video in May that the crypto space no longer needed Bitcoin to survive. However, he believes the asset cannot survive without the industry.

Furthermore, Hoskinson stated earlier this week that Cardano will overtake the crypto firstborn. He also took a swipe at Ethereum, predicting a similar scenario.

However, the recent partnership between Cardano and BitcoinOS has triggered a review of his tone regarding the premier asset. The founder posted a picture welcoming Bitcoin to Cardano, along with other reactions following the partnership.

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