- Charles Hoskinson to integrate Bitcoin with DeFi through Cardano by hybrid application ecosystem.
- Cardano’s Babel fees could enable seamless DeFi transactions using Bitcoin.
- Hoskinson praises Bitcoin’s Taproot upgrade for fostering innovation and scalability.
Charles Hoskinson, the founder of Cardano, envisions a future where Bitcoin-DeFi integration is made seamless through Cardano’s technology. In a post on X on Tuesday, Hoskinson said he admires Bitcoin’s design and purpose, comparing it to “a reunion with a childhood friend.”
Just a brief reminder, having been around for a very long time and having read a lot of the early source code for Bitcoin, it’s easy for me to get back into the mindset of Bitcoin’s design and purpose.
It’s like a childhood friend that I lost touch with and re-discovered. I…
— Charles Hoskinson (@IOHK_Charles)
November 26, 2024
Further, Hoskinson proposed a new ecosystem for hybrid applications. This would be based on Bitcoin and powered by Cardano, allowing users to access DeFi seamlessly. Because it relies only on Bitcoin, it would prevent other tokens from entering.
Babel Fees: A Key Feature
A key aspect of the proposal is Cardano’s ‘Babel fees’ mechanism. This lets users transact with their native tokens without having to convert to other currencies, which makes things simpler and improves usability.
Hoskinson also praised the core developers of Bitcoin for advancements like Taproot, which improved Bitcoin’s scalability and privacy. He said Cardano could help Bitcoin regain “innovation prominence,” which would benefit both blockchains.
Read also: ADA and XRP Surge as Cardano and Ripple Plan DeFi Collaboration
Collaboration Is Key
To make this happen, Hoskinson said he wants to collaborate with key players from other ecosystems. This comes after his recent meetup with Ripple CEO, Brad Garlinghouse, which sparked rumors of a potential partnership.
Hoskinson said he would soon connect with his “old friends” to make his vision a reality, adding that he wants to avoid greed and distractions.
Cardano’s integration with Bitcoin could be a significant milestone for both networks, connecting Bitcoin’s security and Cardano’s advanced DeFi capabilities. This move signifies a step toward greater interoperability within blockchain ecosystems.
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https://coinniu.com/hoskinsons-bitcoin-defi-vision-cardano-as-the-bridge/
