Bitrabo Editorial
A revolutionary claim was made by the founder of Cardano, Charles Hoskinson, who confidently stated at the 2023 Rare Evo conference that ADA would rise to become the leading cryptocurrency globally. In a recent interview, he elaborated on the potential for Cardano to surpass Bitcoin on its journey to achieving this remarkable status.
The Potential for Cardano (ADA) to Overtake Bitcoin
Hoskinson highlighted the current advancements within the Cardano ecosystem as the driving force behind his belief in ADA’s capability to surpass Bitcoin. He emphasized that should Cardano successfully achieve its vision, it would become unbeatable. He acknowledged that ADA has already realized the aspirations of Satoshi Nakamoto and is now striving for even greater accomplishments.
The Cardano Founder emphasized that ADA aims to revolutionize global political, social, and economic systems. He envisioned ADA expanding beyond the current market landscape by creating a robust “growth engine” that can seamlessly welcome new users without alienating existing ones, while also absorbing the technological advancements of its rivals.
Hoskinson projected that ADA would evolve into a trillion-dollar ecosystem by onboard billions of individuals, distinguishing itself from competitors. He underscored the pivotal role played by the Cardano community in this evolution, pointing out ongoing efforts to onboard various governments onto the Cardano network.
Moreover, he highlighted the development of numerous decentralized applications (dApps) on the Cardano network, driven by exceptional teams collaborating to deliver impactful solutions. Hoskinson stressed that empowering these teams to achieve substantial growth is crucial. Once this momentum is attained, he envisaged a cohesive community effort to propel Cardano to surpass Bitcoin.
Bitcoin’s Stagnation
In contrast, Hoskinson described Bitcoin as “stalled,” offering additional rationale for Cardano’s potential to outshine Bitcoin. He noted that Bitcoin’s primary appeal lies in its size and success rather than innovative technology or capabilities. Drawing parallels to past giants like Yahoo, MySpace, and Microsoft Windows, he argued that their emphasis on being “big and successful” led to their eventual decline.
Speculating on Bitcoin’s perceived value proposition as “digital gold,” Hoskinson predicted its eventual limitations once widespread ownership is achieved. Conversely, he asserted that Cardano, with features like smart contract functionality and the potential to become a universal voting system, possesses greater intrinsic value than Bitcoin.
He further contended that Cardano is progressing towards becoming the preferred platform for diverse financial, political, and social requirements, particularly through embracing complete decentralization with initiatives like the Chang Hard Fork.