Cardano

Grail

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>The recent integration of Cardano into the Bitcoin network has stirred mixed reactions.</li> 
 <li>Despite concerns, Bitcoin OS believes the integration will boost ADA in the long run, especially from 2025.</li> 
</ul> 
<p> Cardano’s latest integration into the Bitcoin network has sparked debate, particularly about its founder, Charles Hoskinson. </p> 
<p>Bitcoin OS, the bridge between BTC and Cardano, suggested that the integration would transform Cardano into a Bitcoin extension, likening it to a BTC L2. </p> 
<h2 id="integration-benefits">Integration Benefits</h2> 
<p>The Grail Bridge system, according to Bitcoin OS, will enable Cardano and other chains to leverage the security of the Bitcoin network and its $1.3 trillion liquidity base.</p> 
<p>However, the community had mixed feelings about Cardano being an extension of Bitcoin, especially given Hoskinson’s previous criticisms of Bitcoin. </p> 
<p>Hoskinson had previously suggested that the industry no longer needed Bitcoin and questioned its long-term viability. </p> 
<p>Some members of the community saw the Bitcoin OS update as a sign of Hoskinson’s changing attitude towards Bitcoin. </p> 
<h2 id="community-reactions">Community Reactions</h2> 
<p>Austin Federa from the Solana Foundation criticized the move, questioning how much lower Cardano could go. </p> 
<p>Romain Pellerin, CTO at IOHK, the research firm behind Cardano, explained that Cardano would provide Ordinals with the smart contract capability that Bitcoin lacks. </p> 
<p>He clarified that Cardano is not switching from being a L1 to being a L2 of Bitcoin, but rather facilitating interoperability between two L1s. </p> 
<p>Despite these clarifications, many users were not in favor of the update or the concept of Cardano becoming a ‘BTC L2’. This sentiment was reflected in a significant drop in weighted sentiment to negative territory. </p> 
<p>Bitcoin OS remains confident that the integration will benefit ADA in the long run, particularly from 2025 onwards. </p> 
<p>At the time of writing, the altcoin was struggling below key long-term trendline resistance at $0.36, up about 4% on the weekly charts. The impact of the integration on ADA’s future remains to be seen. </p>

Cardano’s Role as Bitcoin’s Extension Sparks Controversy and Intrigue

Table of Contents

CoinEagle.com

Other articles published on Oct 29, 2024

Booming Liquid Staking: Is Ethereum In Danger?

XLM: The Undervalued Gem in the Cryptocurrency Landscape

Huge Shiba Inu (SHIB) Upgrade Imminent: Details

SEC Challenges Court's XRP Ruling in Formal Appeal

DOGE Price Prediction: Trump Win Boosts DOGE, Lunex & Toncoin

FTX Settles $228M Lawsuit with Bybit, Aims for $175M Recovery

Join our free newsletter for daily crypto updates!