Cardano Founder Highlights Focus on Bitcoin DeFi and Network Innovations
Cardano's founder, Charles Hoskinson, announced on May 31 that the blockchain is focusing on enabling Bitcoin DeFi, positioning Cardano as a major cryptocurrency player. Key points include:
- Hoskinson addressed past criticisms, including allegations of treasury manipulation during the Allegra hardfork in 2021.
- He emphasized moving beyond these issues to enhance governance and privacy-focused projects like Midnight.
- Cardano aims to offer seamless access to DeFi applications for Bitcoin users, tapping into a $2.06 trillion liquidity pool.
- The Bitcoin DeFi sector saw a 2000% increase in Total Value Locked (TVL) last year.
- Ordinals can now bridge to the Cardano network, enhancing multichain connectivity and unlocking over $1.5 trillion in DeFi opportunities.
- Sui Network plans to integrate sBTC, a Bitcoin-backed asset, to boost Bitcoin DeFi growth.
Hoskinson predicts Bitcoin will dominate DeFi within two to three years, leveraging Cardano's network capabilities.