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Haider Jamal

May 07, 2024

Cardano And Bitcoin Cash May Be Partnering Up Soon

Charles Hoskinson, the founder of Cardano (ADA), recently hinted at a potential collaboration between Cardano and Bitcoin Cash (BCH). He highlighted the significance of this alliance for Bitcoin Cash, positioning it ahead of networks like Bitcoin (BTC).

Regarding the potential partnership, Hoskinson conducted a hypothetical poll on X, seeking feedback by followers on integrating Bitcoin Cash as a Cardano partner-chain. He emphasized that this collaboration would enhance Bitcoin Cash with useful Proof of Work (PoW) Leios, NiPoPoWs, and Ergo tech.

More recently, EMURGO, the commercial arm of the Cardano blockchain, has struck a strategic agreement with GSR, a well-known worldwide cryptocurrency trading firm. This alliance intends to strengthen the ecosystem&39s infrastructure by leveraging GSR&39s expertise in market liquidity and financial services.

 

An Intriguing Partnership

Hoskinson asserted that the partnership could elevate Bitcoin Cash to be the fastest and most useful PoW chain ever built. The poll garnered over 13,000 responses, with 67.7% in favor of the collaboration. Ben Scherrey, founder and CTO of blockchain firm Biggest Lab, expressed support for the initiative, noting similarities between the two chains, particularly in their shared UTXO model, enabling high scalability and decentralization.

Bitcoin Cash is recognized for its advantages over Bitcoin in terms of speed, cost-effectiveness, and scalability. Therefore, Hoskinson asserting that Bitcoin Cash could become the fastest and most useful PoW chain seems plausible. Integrating PoW Leios and Ergo tech could also enhance transaction processing speed and smart contract efficiency. However, the concept of making Bitcoin Cash a Cardano partner-chain raises questions due to their differing consensus mechanisms.

 

Looking Ahead

Cardano is additionally poised for two significant upgrades. The first is the Chang hard fork, scheduled for this quarter, aiming to foster decentralized governance by transitioning to a community-driven model. This shift could also help address various criticisms that Hoskinson tends to stifle network progress, potentially reshaping the future trajectory of Cardano going forward.

The second upgrade involves the introduction of the Ouroboros Leios protocol, slated for this year, anticipated to bolster both scalability and efficiency for the Cardano blockchain. Hoskinson views this as a significant step towards resolving the blockchain trilemma of security, scalability, and decentralization.

 

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