The founder of Cardano (ADA), Charles Hoskinsonrecently raised the possibility of a partnership with Cardano Bitcoin Cash. He noted how important this partnership could be for Bitcoin Cash, as it would put it ahead of networks like Bitcoin.
What Cardano’s potential partnership with Bitcoin Cash is about
Hoskinson conducted a “hypothetical poll” on his X (formerly Twitter) platform, asking its followers if they would like to see Bitcoin Cash become a “partner chain” of Cardano. He noted that this partnership would improve Bitcoin Cash with “Useful Proof of work Leios, NiPoPoW and Ergo tech.
Hoskinson further claimed that the partnership would make Bitcoin Cash the “fastest and most useful” proof of work chain (PoW) never built. At the time of writing, more than 13,000 people have voted, with 67.7% voting in favor of the partnership. Ben Scherrey, founder and CTO of blockchain company Biggest Lab, also supports the move, noting how the two chains share similarities.
He declared in a Message that he “always believed there was a natural synergy between the two chains given the shared UTXO model which allows for high scalability and decentralization.” In the meantime, it should be noted that Bitcoin Cash is already known to have an advantage over Bitcoin because it is faster, cheaper and more scalable.
Therefore, Hoskinson’s claim that Bitcoin Cash will become the fastest and most useful PoW may be valid. Upgrading Bitcoin Cash with PoW Leios and Ergo Tech means the network can process transactions faster and have more efficient smart contract functionality. However, the idea of making Bitcoin Cash a Cardano “partner chain” is still unclear, since they work differently consensus mechanisms.
Cardano is also expected to undergo two major upgrades
Cardano is also expected to see two significant upgrades. One is the Chang’s hard fork, which the network plans to achieve this quarter. This will promote decentralized governance on the blockchain as Cardano moves to a community-driven governance model. Given the critical that Hoskinson has stopped the network from moving forward, this could change the network’s outlook.
Specifically, Tom Dunleavy, partner and chief investment officer (CIO) at MV Capital, once called Hoskinson a “megalomaniac” who “does not want to change or adapt to the ecosystem”. Therefore, with the community having more control, changes could occur in the network that could help it adapt to the ecosystem.
The second upgrade is the introduction of Ouroboros Leos protocol, which will also take place this year. This upgrade is expected to improve the scalability and efficiency of Cardano. Hoskinson noted that this development is a big step towards solving the problem blockchain trilemma security, scalability and decentralization.
ADA price slips toward $0.45 | Source: ADAUSDT on Tradingview.com
Featured image from Forbes, chart from Tradingview.com
