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Charles Hoskinson Proposes Integrating Bitcoin Cash into Cardano

Web3 Station

05 May 2024 — 3 min read

Cardano founder Charles Hoskinson has initiated a poll on platform X regarding the potential integration of Cardano with Bitcoin Cash.

Charles Hoskinson Proposes Integrating Bitcoin Cash into Cardano

Charles Hoskinson, the founder of Cardano, posted a proposal on platform X (Twitter) to gauge community interest in integrating Cardano with Bitcoin Cash.

The proposal suggests enabling Bitcoin Cash to leverage Cardano's blockchain technology, including the Leios Proof of Work technology, Non-Interactive Proofs of Proof-of-Work (NiPoPoWs), and Ergo tech.

The goal is to transform Bitcoin Cash into a "Partnerchain" of Cardano, becoming the fastest and most efficient Proof of Work blockchain.

The post quickly gained traction on social media, garnering over 13,000 votes at the time of writing, with 67.4% of participants expressing interest in the proposal.

Hypothetical Poll:

Would you like to see Bitcoin Cash become a Cardano Partnerchain upgraded with Useful Proof of Work Leios, NiPoPoWs, and Ergo tech, thus being the fastest and most useful proof of work chain ever built?
— Charles Hoskinson (@IOHK_Charles) May 4, 2024

Ben Scherrey, co-founder and CTO of blockchain company Biggest Lab, voiced support for the integration of both blockchains in the comments below the post, emphasizing their shared UTXO model which enhances scalability and decentralization.

Bitcoin Cash originated as a Bitcoin fork aimed at addressing network scalability issues with lower transaction fees and higher throughput, initially competing directly with Ethereum in market capitalization.

Since its launch in 2017, Bitcoin Cash has attracted attention by achieving a market capitalization of $9 billion within 48 hours, a significant feat at the time, and was listed on major exchanges.

However, liquidity concerns and governance transparency issues led to waning community trust, causing a decline in adoption. Past efforts to pivot, such as the introduction of CashTokens in May 2023 to support smart contracts and DApps, have not garnered significant attention.

Well @BenArmstrongsX was always friendly in person to me. Sad to see him go down this road.

Wish him well and hope for the best. https://t.co/b9lFeO70oe
— Charles Hoskinson (@IOHK_Charles) April 7, 2024

Meanwhile, Cardano is gearing up for significant developments this year. The upcoming "Chang" hard fork in the second quarter of 2024 aims to introduce a new community governance model. Additionally, the "Ouroboros Leios" Proof of Stake model is set to enhance efficiency and scalability.

Discussion around these upgrades intensified following a video by KOL Ben "Bitboy" Armstrong, who referred to Cardano as a "deadchain." Hoskinson responded, mocking Armstrong's alleged lack of knowledge.

Previously, in June 2023, Cardano's ADA token faced regulatory challenges, with the SEC alleging it as a security, leading to delistings by platforms like Robinhood and Bakkt, despite Cardano's rebuttal.

The idea of merging Bitcoin Cash and Cardano has garnered community support. However, Hoskinson's use of the term "Partnerchain" suggests that Bitcoin Cash would need to be linked with Cardano in a certain form to function alongside the proposed upgrades.

Both ADA and BCH prices have followed the cryptocurrency market's downward trend over the past month. Nevertheless, BCH experienced a notable growth phase in March before its halving event in early April.