Market Times:


New York:


Cardano Founder Proposes Bitcoin Cash Integration With an X Poll

Although the Cardano founder termed the poll a hypothetical one, voters have expressed a strong desire to see the blockchain integrate Bitcoin Cash.

Cardano Founder Charles Hoskinson

In a rare gesture, founder Charles Hoskinson initiated an X poll to seek public opinion on integrating Bitcoin Cash (BCH) into the Cardano ecosystem.

The X poll, launched on May 4, 2024, has attracted significant interest. Initial results indicate a majority favoring the partnership, with over 15,000 respondents voting at press time. According to the poll outcome so far, 68.8% of the respondents expressed support for the proposal by voting “Yes,”  and the remaining 31.2% voted” No.”

Although Hoskinson claimed that his poll was purely hypothetical, he didn’t expressly state what he would do with the voting’s outcome. An X poll of this sort influenced Elon Musk’s resignation as the platform’s CEO in December 2022.

A Likely Collaboration?

Integrating the two chains would entail incorporating advanced Proof of Work features and technologies from Cardano into Bitcoin Cash, potentially enhancing its speed and efficiency. If the integration proceeds, it could mark a significant milestone in blockchain cooperation and reshape the landscape of both Cardano and Bitcoin Cash within the cryptocurrency ecosystem.

Hoskinson’s idea of a “partnerchain” suggests a scenario where assets could be transferred between Cardano and Bitcoin Cash without relying on a centralized exchange, potentially improving functionality and user convenience.

Bitcoin Cash, initially introduced as a fork of the Bitcoin blockchain, has garnered attention for its potential to address certain shortcomings in the Bitcoin network and explore applications in decentralized finance (DeFi). Hoskinson’s proposal has ignited discussions within the cryptocurrency community regarding the implications and benefits of such collaboration.

Launched in 2017 by Charles Hoskinson, the Cardano blockchain has also gained notoriety for its scalability and stability in processing and handling transactions. One fascinating fact about Cardano is that it is not backed by venture capital.

The Crypto Community Got Talking

Hoskinson’s proposal got tongues wagging as the crypto community relayed their thoughts on the likely collaboration. Biggest Lab founder Ben Scherrey took to the comment section of the X poll to express his approval of the move.

He alleged that the collaboration spelled out the “natural synergy” between Bitcoin Cash and Cardano and expects their “shared UTXO will allow for high scalability and decentralization.”

The outcome will be determined after six days of voting, with four days left. While the Bitcoin Cash and Cardano integration seems to have community backing, this partnership’s precise formation and operation remain unclear.

Elendu Benedict

Elendu Benedict is a professional writer with sheer competence in crypto-related journalism. With a background in Engineering, Benedict specialises on news related to ETFs, market analysis, and macroeconomic policies that affects the crypto market.