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Cardano founder says goodbye to Bitcoin, here’s why
Tomiwabold Olajide
Hoskinson’s praise extends beyond Bitcoin to encompass the entire cryptocurrency ecosystem
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In a recent statement, Charles Hoskinsonthe founder of Cardano, praised Bitcoin, highlighting it as the culmination of 50 years of technological advancements and innovation.
Hoskinson’s praise extends beyond Bitcoin to encompass the entire cryptocurrency ecosystem, which has grown exponentially over the past decade.
However, advances in cryptocurrencies are not an overnight phenomenon, but rather the result of five decades of research and development in various fields, including cryptography, computer science, and network theory.
From the development of public key cryptography in the 1970s to the creation of peer-to-peer networks in the early 2000s, these advances have collectively paved the way for the emergence of blockchain technology.
“Great ideas are not the product of sudden inspiration, but rather a gradual connection of decades of concepts and advancements. Bitcoin and the cryptocurrency industry in general are the end result of five decades of innovation,” Hoskinson he wrote.
Hoskinson, who also co-founded Ethereum illustrated this, sharing an image titled “Bitcoin and the Rise of the Cypherpunks,” which showed a steady progression of technologies, from cryptography in the 1970s to the emergence of proof-of-work, smart contracts and peer networks. to-peer, to the launch of Bitcoin in 2009. Every step along the way was crucial in building the foundation for what we know today as the cryptocurrency industry.
Cardano promotes governance
Intersect, a member-based organization of the Cardano ecosystem charged with ensuring its continuity and future development, invites applications from across the Cardano community to join the Interim Constitutional Committee (ICC). The ICC will have seven members and will maintain the interim constitution while the community transitions to Chang.
The transition period begins after Chang’s upcoming update. Cardano then enters a bootstrapping phase of technical governance, which includes bringing DReps and others onto the chain.
The provisional phase also includes the drafting of the Constitution and will expire at the beginning of 2025, when the final on-chain version will be ratified.
About the author
Tomiwabold Olajide
Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analyzes and trading predictions on estimated market trends. Tomiwabold graduated from the University of Lagos.