In a recent one, Charles Hoskinson, founder of Cardano (ADA), a decentralized finance (DeFi) platform, brought a new perspective by stating that the cryptocurrency industry no longer depends on Bitcoin (BTC) to survive. This statement, made during an interview with Cointelegraph AR on December 7, marks a significant moment in the discourse on the independence of cryptocurrencies from Bitcoin.

Hoskinson, a respected figure in the blockchain space, explained that while Bitcoin was instrumental in founding the industry, it has now become less crucial with the emergence of new technologies and digital assets. He recognized the historical value of Bitcoin, comparing it to digital gold, but highlighted that the crypto industry no longer needs it to continue its development.

The founder of Cardano went further, discussing Bitcoin’s need to adapt to new technologies. He drew a parallel between the Bitcoin situation and Microsoft’s experience with Windows, pointing out how Windows’ dominance has diminished with the shift to mobile devices. Hoskinson warned that if Bitcoin does not adapt to technological advances and changing dynamics, it could face a similar fate.

Furthermore, Hoskinson challenged the Bitcoin ecosystem to innovate and consider a roadmap that keeps it competitive with other blockchain platforms. “Bitcoin could create a roadmap where it could be competitive with Ethereum or other things. It is their (Bitcoin community) decision as an ecosystem to follow this path. I don’t think the culture lets them do that,” Hoskinson said.

Emphasizing Cardano’s efforts to foster innovation, Hoskinson mentioned initiatives such as non-interactive Proof of Work (PoW) and protocols, highlighting how Cardano has integrated early ideas, including smart contracts and asset issuance, to offer an alternative in the digital currency space.

Meanwhile, Bitcoin continues to chase a new all-time high, failing to sustain gains above $44,000. At press time, the first cryptocurrency was valued at $43,724 with weekly gains of over 10%.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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