Founder of Cardano, Carlos Hoskinson, boldly predicted at the 2023 Rare Evo conference that ADA would become the world's largest cryptocurrency. In a recent interviewprovided information about why you think that will happen, with ethereum/ethereum–crypto-analyst-1900/#:~:text=If%20that%20happens%2C%20Ethereum%20could,its%20current%20price%20of%20%241%2C600.” rel=”nofollow noopener” target=”_blank”>Cardano flipping bitcoin on the way to achieving that status.
Why Cardano (ADA) can invest bitcoin
Hoskinson alluded to the Current development of the Cardano ecosystem as the reason why he believes Cardano can change bitcoin. He stated that there would be no way to beat Cardano if they fulfilled his vision. Furthermore, he noted that ADA had already lived up to what Satoshi Nakamoto They started, but they won't stop there.
He Cardano Founder stated that ADA is trying to change the political, social and economic systems of the world. Hoskinson believes that ADA will surely outperform the market as it continues to build a “growth engine” that can absorb more people without losing its existing users and that can also “absorb” all of its competitors' technology.
He suggested that ADA will become a trillion-dollar ecosystem by incorporating billions of people and standing out from its competitors. Hoskinson also highlighted the role of the Cardano community in achieving this status. He revealed how various teams are currently working to on board different governments on the Cardano network.
Furthermore, he mentioned that several decentralized applications (dApps) are currently being built in the Cardano Network, each of which has incredible teams working together to create something meaningful. Hoskinson said the key is empowering these teams to achieve tremendous growth. Once that happens, he believes they will be able to come together as a community to achieve the “next step,” which is what makes bitcoin change.
bitcoin has “stagnated”
hoskinson He stated that bitcoin has “stagnated,” which is another reason why he believes Cardano can easily change bitcoin. He commented that bitcoin's only value proposition is that it is “big and successful.” He said that people don't use bitcoin because it has a new technology or capability. Interestingly, he compared bitcoin to Yahoo, MySpace and Microsoft Windows, stating that they also had the value proposition of being “big and successful.”
Hoskinson suggested that The value proposition of bitcoin it would probably fail sooner rather than later as he alluded to how these other brands disappeared over time. He also stated that bitcoin's value proposition is “digital gold”would at some point reach its limit once the flagship cryptocurrency is evenly distributed and everyone owns a piece of it.
On the other hand, he stated that a platform like Cardano, which has utilities such as a smart contract functionality and could become the voting system of every country in the world, it is undoubtedly more valuable than bitcoin. He also suggested that Cardano is already on its way to becoming the go-to platform for all financial, political and social needs, seeing how it is already embracing complete decentralization with the Chang Hard Fork.
Featured image from Medium, chart from Tradingview.com
