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In a world that is excited about Bitcoin ‘to the moon’, there are also those who think Bitcoin may disappear forever. One of those skeptical of this currency's ability is Cardano (ADA) founder Charles Hoskinson.
In an interview shared on the official Reddit Cardano - r / cardano website, Hoskinson explained that, like fiat currency, Bitcoin is valuable because of its widespread acceptance around the world. If it loses its popularity, then Bitcoin can disappear!
"Bitcoin is valuable because it is valuable. It has no technological advantages. In fact, it is the most ancient compared to other cryptocurrencies, not futuristic. ”
Bitcoin, first generation blockchain - Only able to transfer coins from one wallet to another. That all.
Ethereum, one example of a second generation blockchain - In addition to value transfer, smart contracts that allow users to manage such operations, make blockchain more functional.
Cardano, third generation blockchain - Strives to complete the famous Blockchain Trilemma, adding some serial technology to the second generation blockchain, making the network more scalable, secure and efficient without losing the concept of decentralization.
One way for Bitcoin to outperform its competitors, Hoskinson suggests improvements and developments on key features.
"Once Bitcoin is overtaken by other cryptocurrencies, it will be deleted because there is no more reason to hold. Unless there is a technological innovation in Bitcoin. ”
For now there are some developments that focus on improving Bitcoin. For example, Segwit, Taproot, Schnorr signatures, and Lightning Network. Once this effort is implemented, Bitcoin is able to deal with much higher trading volumes.
