Charles Hoskinson Details How Bitcoin Will Take Over DeFi

Despite the Bitcoin network's lackluster speeds and a subsequently sub-optimal user experience, Cardano founder Charles Hoskinson is super optimistic

Cardano founder bullish on DeFi in Bitcoin ecosystem

Cardano founder Charles Hoskinson is optimistic about the future of decentralized finance (DeFi) in the Bitcoin ecosystem.

In a recent post on X, Hoskinson said that he plans to help drive the full integration of DeFi on the Bitcoin blockchain. He also announced plans to relaunch The Bitcoin Education Project in 2025.

The project, which was first launched by Hoskinson in 2013, provides free, peer-reviewed content on Bitcoin and the broader crypto domain. With Bitcoin “back in the family,” Hoskinson said that he will be relaunching the project and creating a new edition of his course in the educational program.

According to the Cardano creator, the new edition will revise previous content and include resources specifically for developers who are planning to create and deploy applications on the Bitcoin network.

Importantly, Hoskinson noted that Bitcoin developers will be able to use Aiken, a modern programming language and toolkit for developing smart contracts on the Cardano blockchain.

Furthermore, he 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 in the post.

Hoskinson’s plans to integrate DeFi on Bitcoin 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.

The above is the detailed content of Charles Hoskinson Details How Bitcoin Will Take Over DeFi. For more information, please follow other related articles on the PHP Chinese website!