Ethereum

Cardano

Bitcoin

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">Every blockchain protocol, including Cardano (ADA), aims to grow, and in doing so, there is a huge need to interoperate with chains with huge liquidity. This is the case with Cardano, as a new bridge helps it connect to the Bitcoin network.</p>
<h2 id="cardano-and-bitcoin-interoperability-here">Cardano and Bitcoin interoperability here</h2>
<p dir="ltr">As&nbsp;<a href="https://x.com/ElRaulito_cnft/status/1837900310016413718" rel="noopener noreferrer nofollow">revealed</a> on X by elraulito, the CTO of FluidTokens, a smart contract built on Plutus V3, allows a Bitcoin wallet to control it directly. This product has broad implications, as it allows Bitcoin users to send ADA tokens and even stakes in any Cardano pool without a new wallet being needed.</p>
<p dir="ltr">While Ethereum is regarded as the best blockchain for decentralized finance (DeFi) innovations, Bitcoin is being increasingly adopted in unconventional payment transactions. Building a product that helps Bitcoin and Cardano holders freely transfer value to one another creates a new economy.</p>
<blockquote>
 <p lang="en" dir="ltr">It works 🤯This address is a smart contract, built on Plutus V3, that allows a Bitcoin wallet to control it directly!Bitcoin users can now send ADA, tokens, and even stake in any Cardano pool — no new wallet needed.Tldr: A seamless bridge between Bitcoin and Cardano apps is… <a href="https://t.co/voF1DvSbUv" rel="noopener noreferrer nofollow">pic.twitter.com/voF1DvSbUv</a></p>— elraulito (@ElRaulito_cnft) <a href="https://twitter.com/ElRaulito_cnft/status/1837900310016413718?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 22, 2024</a>
</blockquote>
<p dir="ltr">Cardano Founder Charles Hoskinson reacted to the update with a GIF showing surprise on X. The Cardano founder is generally known as a strong advocate for sound technology and is moving to position the protocol for long-term success.</p>
<h2 id="fight-against-bitcoin-dominance">Fight against Bitcoin dominance</h2>
<p dir="ltr">Originally, Cardano’s design targeted competing with Ethereum; Charles Hokinson is now arguably nursing a more advanced vision to take on Bitcoin.</p>
<p dir="ltr">In a recent&nbsp;<a href="https://u.today/cardano-creator-doesnt-think-bitcoin-can-survive" rel="noopener noreferrer nofollow">report</a>, the Cardano founder talked down the long-term survival potential of Bitcoin. This is because of the lack of decentralization qualities attributed to the pioneering network.</p>
<p dir="ltr">Cardano was once accused of being a centralized protocol. However, this changed recently, with the deployment of the&nbsp;<a href="https://u.today/genesis-keys-are-dead-charles-hoskinson-issues-crucial-chang-update" rel="noopener noreferrer nofollow">Chang hard fork</a> on the mainnet. Cardano’s governance was effectively handed over to the community during the long-awaited Voltaire Era.</p>
<p dir="ltr">For the many ways Cardano is currently innovating, the Cardano founder hopes that in the long term, it might&nbsp;<a href="https://u.today/cardano-ada-dominates-ethereum-and-solana-in-most-recent-poll" rel="noopener noreferrer nofollow">outshine</a> not only Ethereum but also Bitcoin in key performance metrics.</p>

Charles Hoskinson Reacts to Cardano-Bitcoin Correlation Update

Table of Contents

U_Today

Other articles published on Sep 23, 2024

Coinpedia Fintech News

PeiPei (ETH) Price Prediction – Could This Low-Cap Meme Coin Deliver 100X Gains With China’s Cryp...

Interesting Remarks for Binance CEO CZ from Renowned CEO: “His Crime Was No Different From SBF”

ReadyCorp Introduces Expert Consultation Services for Companies Eyeing the Argentinian Crypto Market

Has a Bullish Green Q4 Already Begun, Will Altseason Dethrone BTC Dominance?

The Taliban submits application to attend BRICS summit in Russia

Join our free newsletter for daily crypto updates!