Despite the Bitcoin network’s lackluster speeds and a subsequently sub-optimal user experience, Cardano founder Charles Hoskinson is super optimistic about decentralized finance (DeFi) in the Bitcoin ecosystem.
Hoskinson has forecasted that DeFi is coming to Bitcoin, harnessing its security and liquidity, owing to BTC’s market cap in excess of $1.3 trillion and that the original and thus oldest blockchain will dwarf anything Solana (SOL) and Ethereum (ETH) have done so far.
Hoskinson Details How Bitcoin Will Take Over DeFi
Charles Hoskinson has mapped out how Bitcoin could become the new foundation for decentralized finance.
Hoskinson said in a Friday post on X that he plans to help drive full integration of DeFi on the Bitcoin blockchain.
Hoskinson launched The Bitcoin Education Project in 2013, providing free, peer-reviewed content on Bitcoin and the broader crypto domain. Now, with Bitcoin “back in the family,” he plans to relaunch the Project in 2025 and create a new edition of his course in the educational program.
According to the creator of Cardano, the new edition will revise previous content and include resources specifically for developers planning to create and deploy applications on the Bitcoin network.
Notably, Bitcoin developers will be able to use Aiken, a modern programming language and toolkit for developing smart contracts on the Cardano blockchain.
Hoskinson also shared that with Babel fees, Bitcoin developers can develop hybrid Cardano-Bitcoin applications using Aiken and pay their transaction costs in Bitcoin.
“DeFi is coming to Bitcoin, and it will dwarf anything Solana and Ethereum have done,” he concluded.
Hoskinson’s Change Of Heart For BTC
Hoskinson’s epic Bitcoin plans come just a few months after he slammed the alpha crypto. In May, he said in a video that the crypto sector no longer needed Bitcoin to survive. However, he believed BTC could not survive without the rest of the digital assets as it is a “religion, not an ecosystem.”
And in July, the Ethereum co-founder declared that his pet project ADA was on track to usurp Bitcoin.
However, it appears that Hoskinson has had a change of heart following a recent game-changing partnership between EMURGO, a founding entity of Cardano, and Bitcoin roll-up protocol BitcoinOS. This linkup introduces Bitcoin to a smart contract layer on Cardano, aiming to expand its utility and potential without altering its core network.
At press time, ADA was exchanging hands at $0.33, down 3% over the last 24 hours alongside a wider market correction.
