Charles Hoskinson Believes Cardano Is On The Way To Flipping Bitcoin

Charles Hoskinson, the founder of Cardano (ADA), has expressed his belief that Cardano could surpass Bitcoin to become the leading cryptocurrency. 

Speaking during a recent podcast hosted by Altcoin Daily, Hoskinson predicted Cardano’s rise to the top of the cryptocurrency world, emphasizing that Cardano’s mission and competitive edge surpass those of Bitcoin.

“If we can do what I’m saying, there’s no way to beat Cardano because there’s nothing that can compete with it because at the end of the day, it has lived up to what Satoshi started,” said Hoskinson.

He further emphasized Cardano’s mission to revolutionize global economic, political, and social systems, aiming to create an ecosystem that can grow sustainably and adaptively. Hoskinson, who has also made similar comments regarding Ethereum, elaborated on Cardano’s competitive edge, highlighting its ability to absorb technologies from competitors and continuously add value.

“At some point, you just outgrow, and then you wake up, and it’s a multi-trillion-dollar ecosystem with trillions of dollars of value moving around every single day,” he said.

He drew parallels to historical examples where dominant technologies were eventually overtaken by more adaptable and innovative solutions, such as BlackBerry and MySpace being displaced by newer, more versatile platforms.

The pundit further contrasted Cardano’s dynamic development with Bitcoin’s more static position, stating, “Bitcoin stalled. The only value proposition it has is it’s big and successful. That’s it.“

According to Hoskinson, Bitcoin’s simplicity and success as digital gold give it a solid foundation. However, its lack of adaptability and utility beyond being a store of value limits its long-term growth potential. In contrast, Cardano aims to be the infrastructure for global voting systems, payment networks, credit systems, and identity frameworks, offering a vastly higher utility.

Hoskinson also underscored the critical role of effective governance in securing the long-term success of blockchain projects. His remarks coincided with the anticipation within the Cardano community for the upcoming Chang Hardfork, which is slated for later this year. He elaborated on the complexities and advantages of on-chain governance, emphasizing the importance of a system that facilitates swift decision-making while upholding rigorous integrity standards and enhancements that the Chang Hardfork promises to deliver.

Notably, the event will be a significant milestone for Cardano, introducing a comprehensive on-chain governance system and a $1.5 billion treasury system. Hoskinson further expressed confidence in the community’s ability to manage this system, noting the importance of governance in overseeing budgets, marketing, and other critical aspects of the ecosystem.