Let’s take a closer look at one of the most fascinating updates in the crypto world, led by Charles Hoskinson, the creator of Cardano (ADA) and CEO of Input Output Global (IOG). On February 2, 2025, Hoskinson provided a wealth of information during a detailed AMA session. He covered fascinating topics, including prospective collaborations with the Internet Computer Protocol (ICP), Cardano’s strategies for stablecoins, Bitcoin interoperability, and ongoing initiatives in various nations. This extensive two-and-a-half-hour discussion included insights on governance, budgeting, and technical roadmaps for the Cardano ecosystem, as well as Hoskinson’s thoughts on the future of multi-chain applications.
Potential Collaboration with ICP
The concept of cross-chain collaboration was a recurring theme during the AMA session. In connection with inquiries about potential cooperation with Dominic Williams and ICP, Hoskinson suggested openness to discussions about interoperability and cooperation. He refrained from outlining a specific plan, but openly stated, “It’s potentially possible.” This suggests an openness to reconnecting with other networks and emphasizes his consistent belief in the strategic significance of ecosystem bridging. Hoskinson believes the future of blockchain lies in its ability to be multi-chain and that platforms such as Cardano can benefit greatly from interacting with projects like ICP.
Discussions with Ripple
Hoskinson broached the topic of stablecoins during the AMA, emphasizing that any stablecoins present on Cardano must be managed transparently and securely. He suggested potential partnerships, including Real USD and RLUSD, and mentioned that these stablecoins should be compatible with both on-chain governance and DeFi protocols. He detailed ongoing talks with Ripple regarding potential collaborations and suggested a scenario wherein the Cardano treasury could convert its funds into a stablecoin, which could boost the Cardano ecosystem’s liquidity and total value locked (TVL).
Interoperability with Bitcoin
Hoskinson upheld his long-term view that Cardano should aim to interact directly with Bitcoin. He discussed ongoing efforts to develop Bitcoin-based DeFi projects and expressed plans to conduct a working demonstration in the forthcoming Bitcoin 2025 conference. Additionally, he possesses ambitions to merge Cardano’s scalability solution, Hydra, with the Lightning Network to enhance cross-chain functionality.
Global Engagement
Hoskinson highlighted several ongoing or potential projects in various countries, from Africa to Mongolia. Interestingly, he also referred to installations driven by the private sector, such as microfinance initiatives that use the Cardano framework. Despite setbacks in projects like the failed initiative in Ethiopia, Hoskinson remains optimistic about harnessing blockchain technology for global development, particularly through partnerships in the private sector.
At the time of writing, ADA was trading at $0.6755.
FAQs
Q: What is Cardano’s stance on stablecoins?
A: During the AMA, Hoskinson stressed the importance of managing stablecoins on the Cardano platform transparently and securely. He suggested possible partnerships and noted that these stablecoins should be compatible with both on-chain governance and DeFi protocols.
Q: What is Cardano’s strategy for Bitcoin interoperability?
A: Hoskinson maintains that Cardano should work to establish direct interfaces with Bitcoin. Part of this strategy includes developing Bitcoin-based DeFi projects and plans to merge Cardano’s scalability solution, Hydra, with the Lightning Network to improve cross-chain functionality.
Q: Does Cardano have any ongoing global initiatives?
A: Yes, Hoskinson outlined several ongoing or potential projects across the globe during his AMA. He highlighted the increasing emergence of private sector engagements, such as microfinance initiatives using Cardano’s infrastructure.
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