Charles Hoskinson stated that Cardano will surpass Bitcoin and Ethereum in twenty years.
Charles Hoskinson has stated that the Cardano network will surpass Bitcoin and Ethereum in size and has specified a timeframe for this development. This occurred as the Cardano founder also argued that his network has a competitive advantage over other layer-1 networks, particularly in light of the Voltaire era, which introduced decentralized governance.
When will Cardano flip Bitcoin and Ethereum, as revealed by Charles Hoskinson?
The Cardano founder stated that his network would surpass Ethereum in ten years and Bitcoin in another decade. Charles Hoskinson further noted that the infrastructure of the majority of governments will be exhausted within the next decade. He made these statements at the Cardano summit in Argentina, which has just commenced.
Bets The ADA price will be flipped, resulting in the BTC and ETH prices being flipped due to Cardano surpassing Bitcoin and Ethereum in size. It is an impossible feat, as ADA is the eleventh-largest cryptocurrency by market capitalization. Simultaneously, BTC and ETH are the first and second largest cryptos in terms of market capitalization.
Nevertheless, Charles Hoskinson is confident that it will ultimately occur due to his conviction that Cardano’s technology is superior to these other networks. He recently stated that Cardano is the top network. However, he also noted that the distance between the network and other networks is far removed, mainly due to the network’s decentralized governance and the impressive roadmap items that are on the horizon.
Why Decentralized Governance Is Deemed Very Important
Charles Hoskinson offered additional explanations for the significance of Cardano’s decentralized governance. He stated that they possess all the necessary resources to resolve any issue with onchain governance. He further noted that this is why they are not prioritizing marketing but attempting to establish a genuine community that will promote the network.
Cardano’s founder also indicated prioritizing long-term success over immediate success. He stated they aim to establish a trustworthy network for all parties, including global administrations. He underscored that genuine decentralization fosters trust, facilitating the elimination of intermediaries and international corporations that presently dominate all narratives.
This is why Charles Hoskinson considers the Voltaire era great importance to the Cardano network and places it above all other layer-1 networks. Additionally, Hoskinson capitalized on the opportunity to disparage networks that venture capitalists finance. He suggested that yielding to VC funding undermines blockchain technology’s fundamental purpose. He observed that most of these networks are centralized, as only a few operate validator nodes.
