• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Cardano Founder Reveals How Wrapped BTC Can Boost Usage
Cardano Founder Reveals How Wrapped BTC Can Boost Usage

Cardano Founder Reveals How Wrapped BTC Can Boost Usage

October 5, 2022 by Lipika Deka

Cardano founder Charles Hoskinson in his latest podcast spoke in detail on the Bitcoin network, mining, and the significance of wrapped bitcoin [wBTC].

BTC mining has come under heavy scrutiny for its impact on the environment with some studies comparing it to oil refining. Calling for an end to mining, Hoskinson said the king coin may leave on as wrapped Bitcoin on other networks.

Wrapped Bitcoin is BTC on smart contracts-enabled platforms like Ethereum [ETH], Cardano [ADA], and others. Typically wrapped cryptocurrencies enable crypto assets to be used on blockchains to which they are not native. 

Wrapped Bitcoin for one, is an Eth token that is intended to represent Bitcoin on the Ethereum blockchain.

Hoskinson emphasized that the Bitcoin blockchain is now primarily designed for mining. He claims that because the blockchain is not intended for that use, efforts to build atop it have had limited success.

According to the founder, wrapping can help increase Bitcoin’s usage and adoption by transferring every newly produced Bitcoin to the larger crypto ecosystem.

“[Wrapped Bitcoin] could be used in all kinds of Dapps and smart contracts and potentially be used by nation-states to create a means of exchange and unit of account to actually have a stable currency they could use with a sound monetary policy.”

He asserts that the wrapped Bitcoin is still Bitcoin because it still possesses all of the characteristics of the asset and predicted that more wrapped BTC would be on other blockchain networks in the next five years.

Cardano Founder Outlines How ADA is Primed For Mass Adoption

Hoskinson recently underscored the value of adopting an intellectual and scientific approach to the creation of the Cardano blockchain in an interview with Messari founder Ryan Selkis.

The blockchain’s method of development, according to Input Output Hong Kong [IOHK]’s founder may open the door for the entry of billions of new users into the cryptocurrency market.

“Every step of the way with Cardano, we just basically said we’re going to start from something that makes sense. We’re going to write papers. We’re going to validate those papers in the academic community. There are now over 150 of them that we’ve written as an ecosystem by top professors.”

Filed Under: News Tagged With: btc, Cardano (ADA), Charles Hoskinson, wBTC

Primary Sidebar

Recent Posts

  • Coinhub Bitcoin ATMs: Empowering America’s Crypto Enthusiasts, While Others Face Setbacks June 2, 2023
  • Pro Tips to Keep You on the Winning Streak When Playing Casino Games June 2, 2023
  • Unstoppable Momentum: DigiToads Rises to New Heights, Despite Ethereum’s Reduced Trading Volume June 2, 2023
  • Ethereum’s Gas Fees And Supply On Exchanges Hit Historic Low June 2, 2023
  • Binance’s Fight Against North Korean Crime: $4.4M Seized June 2, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.