thecryptobasic.com
As excitement sweeps the Cardano community following a major partnership on Thursday, Cardano founder Charles Hoskinson has thrown in a series of reactions to the development.
For context, EMURGO, one of Cardano’s major developers, announced a partnership with BitcoinOS to unlock $1.3 trillion in Bitcoin liquidity for the Cardano network. The symbiotic collaboration will unlock smart contracts and decentralized application features on the blockchain housing the largest crypto asset by market cap.
Hoskinson Reacts
In one of the Cardano founder’s reactions, he uploaded a picture, accompanied by a GIF, welcoming Bitcoin to the Cardano chain. The image featured two animations with the names of the two networks visibly written on them, with arms wide open in a gesture of embrace.
pic.twitter.com/5KOzHH4GNz
— Charles Hoskinson (@IOHK_Charles) October 25, 2024
In another reaction, Hoskinson tapped Cardano’s native AMM-operated decentralized exchange, SundaeSwap. He jokingly tagged SundaeSwap, stating that he heard Bitcoin was looking for a DEX where all the assets that could be issued through the partnership with BitcoinOS.
Notably, the X post emphasized Hoskinson’s belief that the collaboration will unlock massive liquidity on the Cardano network, as DeFi developers based on the chain can access Bitcoin’s $1.3 trillion market without intermediaries. Meanwhile, SundaeSwap responded to Hoskinson’s tweet, noting it was “happy to get them situated.”
Bitcoin Ready to Leave Boring Live
Furthermore, Hoskinson emphasized the impact Cardano’s partnership will bring to the Bitcoin network. The founder noted that the interoperability unlocked will allow Bitcoin’s liquidity to flow into the broader cryptocurrency ecosystem.
Remember that @BTC_OS isn't a bridge. It's a brain. And that brain is going to let Bitcoin flow into the crypto world, and they finally get to ditch their boring lives and enjoy DeFi, GameFi, and the magic of Smart Contracts.
First stop, Cardano
— Charles Hoskinson (@IOHK_Charles) October 25, 2024
He also stated that Bitcoin will finally get rid of its “boring life” for exciting features such as access to DeFi, GameFi, and smart contracts. These Dapps have been missing on the Bitcoin network since its inception due to its core functionality.
Notably, Hoskinson’s thoughts aligned with comments from BitcoinOS’s co-founder Edan Yago, who teased the collaboration during the Cardano 2024 Summit. Yago noted that the partnership with Cardano will bring certain innovations missing on the Bitcoin blockchain.
The BitcoinOS co-founder noted that before now, Bitcoin had been a store of value with a reputable transactional acumen. However, the introduction of zero-knowledge proofs on the Bitcoin network has allowed the deployment of dApps, smart contracts and enhanced interoperability.
Meanwhile, the massive liquidity that will be unlocked to the Cardano network has been tipped to boost the ecosystem substantially and finally set its native token, ADA, on the path to new highs. At the time of writing, ADA trades at $0.3424, with a market cap of almost $12 billion.