#CardanoDebate The founder of Cardano, Charles Hoskinson, reaffirms his conviction that the biggest competitor to Bitcoin's dominance is not another project, but Cardano itself. According to him, the platform has evolved consistently over the past seven years, maintaining a focus on decentralization, security, and a solid monetary policy—factors that, in his view, overcome Bitcoin's historical limitations.
Hoskinson highlights innovations such as the Extended UTXO model, which expands Bitcoin's basic structure and allows for the creation of smart contracts while maintaining network security. Additionally, the on-chain governance system and the Plutus programming language are pointed out as differentiators that, according to him, realize ideas initially discussed in the Bitcoin ecosystem but never implemented.
Another emphasized point is the operational stability of the Cardano network, which has been operating for seven years without interruptions, attacks, or major failures, using a proof-of-stake model that, in addition to being more energy efficient, offers security comparable to Bitcoin's proof-of-work.
Despite this positive technical history, Hoskinson does not ignore the growing institutional interest in Bitcoin, driven by major players like BlackRock, which already holds over 600,000 bitcoins. He acknowledges that, with institutional support and recent technological advancements, such as the Taproot upgrade, Bitcoin has expanded its presence in the DeFi market. Nevertheless, he projects a future where Bitcoin could reach values between US$ 250 thousand and US$ 1 million, but believes that Cardano offers a more prepared architecture for the sector's complexities.
However, Cardano currently faces an important internal obstacle: the scarcity of stablecoins within its DeFi ecosystem. For Hoskinson, this is the main factor limiting the network's growth. To address this deficiency, he proposed converting 140 million ADA, equivalent to approximately US$ 100 million, into USDM, Cardano's stablecoin.
Hoskinson highlights innovations such as the Extended UTXO model, which expands Bitcoin's basic structure and allows for the creation of smart contracts while maintaining network security. Additionally, the on-chain governance system and the Plutus programming language are pointed out as differentiators that, according to him, realize ideas initially discussed in the Bitcoin ecosystem but never implemented.
Another emphasized point is the operational stability of the Cardano network, which has been operating for seven years without interruptions, attacks, or major failures, using a proof-of-stake model that, in addition to being more energy efficient, offers security comparable to Bitcoin's proof-of-work.
Despite this positive technical history, Hoskinson does not ignore the growing institutional interest in Bitcoin, driven by major players like BlackRock, which already holds over 600,000 bitcoins. He acknowledges that, with institutional support and recent technological advancements, such as the Taproot upgrade, Bitcoin has expanded its presence in the DeFi market. Nevertheless, he projects a future where Bitcoin could reach values between US$ 250 thousand and US$ 1 million, but believes that Cardano offers a more prepared architecture for the sector's complexities.
However, Cardano currently faces an important internal obstacle: the scarcity of stablecoins within its DeFi ecosystem. For Hoskinson, this is the main factor limiting the network's growth. To address this deficiency, he proposed converting 140 million ADA, equivalent to approximately US$ 100 million, into USDM, Cardano's stablecoin.