Charles Hoskinson, the founder of Cardano (ADA), has recently discussed the potential of a partnership between Cardano and Bitcoin Cash (BCH). He highlighted the significance of such a collaboration for Bitcoin Cash, suggesting that it could position BCH ahead of networks like Bitcoin.
The Nature Of Cardano's Possible Collaboration With Bitcoin Cash
Charles Hoskinson recently conducted a "hypothetical poll" on his X platform, formerly Twitter, inquiring whether his followers would support Bitcoin Cash becoming a "partnerchain" with Cardano. He suggested that such a partnership could enhance Bitcoin Cash with "Useful Proof of Work Leios, NiPoPoWs, and Ergo tech," potentially making it the fastest and most useful proof-of-work chain ever built.
As of now, over 13,000 individuals have voted on the poll, with 67.7% expressing support for the partnership. Ben Scherrey, founder and CTO of blockchain firm Biggest Lab, also voiced his approval, citing the shared UTXO model between the two chains as a basis for potential synergy.
While Bitcoin Cash already boasts advantages over Bitcoin in terms of speed, cost, and scalability, Hoskinson's proposition suggests further enhancements. Integrating Proof of Work Leios and Ergo tech could potentially enable faster transaction processing and more efficient smart contract functionality.
However, it's important to note that the concept of making Bitcoin Cash a Cardano "partnerchain" raises questions, particularly regarding their differing consensus mechanisms. Despite potential technological synergies, the practical implementation of such a partnership remains unclear.
Cardano Is Also Expecting Two Significant Upgrades
Cardano is poised for two significant upgrades in the near future. The first is the Chang hard fork, scheduled for this quarter, which aims to advance decentralized governance on the blockchain by transitioning to a community-driven governance model. This shift could potentially alter perceptions of the network, particularly in light of criticisms levied against Hoskinson for impeding progress.
Tom Dunleavy, Partner and Chief Investment Officer (CIO) at MV Capital, previously labeled Hoskinson as a "megalomaniac" resistant to change or adaptation within the ecosystem. With greater community control, the network may undergo changes that facilitate adaptation to the evolving ecosystem.
The second upgrade involves the introduction of the Ouroboros Leios protocol, also slated for implementation this year. This upgrade is anticipated to bolster Cardano's scalability and efficiency. Hoskinson has highlighted this development as a significant stride toward addressing the blockchain trilemma of security, scalability, and decentralization.
May 2024, Cryptoniteuae