Cardano founder Charles Hoskinson has made a bold prediction: within the next two to three years, decentralized finance (DeFi) on the Bitcoin network will surpass all other crypto ecosystems. He attributes this potential growth to Bitcoin’s unparalleled scale and liquidity.
In a new YouTube video, Hoskinson imagines a future where Bitcoin’s DeFi layer transforms it into the internet’s primary store of value. He suggests that integrating DeFi capabilities with Bitcoin could be achieved by bridging Bitcoin to a wrapped token on Cardano’s network. This approach would enable Bitcoin holders to engage in DeFi activities, such as trading on decentralized exchanges and utilizing yield-bearing instruments, all while retaining control over their private keys.
This perspective marks a significant shift from Hoskinson’s earlier views on Bitcoin. He now believes that adding a DeFi layer to Bitcoin will restore its innovative prominence, potentially overshadowing platforms like Ethereum and Solana.
The recent collaboration between Cardano and BitcoinOS, which introduced the Grail Bridge, exemplifies this vision. This zero-knowledge interoperability protocol allows Bitcoin users to interact seamlessly with other blockchain networks, paving the way for DeFi applications secured by Bitcoin.
Hoskinson’s ambitious outlook suggests that Bitcoin’s integration with DeFi could redefine the cryptocurrency landscape, positioning Bitcoin as a central hub for decentralized financial services.
Source: https://bravenewcoin.com/insights/cardano-founder-charles-hoskinson-talks-bitcoin-defi