founder of cardano Carlos Hoskinson has made an unexpected Bitcoin statement. The Cardano founder says he has seen a particular narrative play out three times in more than 10 years following the Bitcoin halving.
founder of cardano Carlos Hoskinson has made an unexpected Bitcoin statement. The Cardano founder says he has seen a particular narrative play out three times in more than 10 years following the Bitcoin halving.
Hoskinson expresses his observation and says that every Bitcoin L2 company often learns the difficulty attributed to the fact that Bitcoin cannot change enough to support the essential elements for a vibrant L2 environment. For comparison, he cites the example of Ethereum and Cardano, which are continually updated to give developers more options to implement effective, efficient, reliable and secure L2.
The Cardano founder backs up his argument, citing the addition of BLS support to Cardano’s Plutus V3, as well as the Hydra and Mithril projects, which provide extensive business and technical requirements for Cardano to grow. Ethereum also features a thriving L2 ecosystem, which are adequately represented in the main protocol roadmap.
Hoskinson believes that Bitcoin might not change or add any additional functionality, which implies that it will be extremely difficult to achieve some things with Bitcoin L2, which often require centralized or federated infrastructure to function.
The Cardano founder was reacting to a tweet from Muneeb, co-creator of Stacks, a layer 2 of Bitcoin, who shared some thoughts from the Satoshi Roundtable in Dubai, which had discussions on Bitcoin L2, BitVM, bonding security, Bitcoin DeFi and soon.
The co-creator of Stacks shares his optimism about Bitcoin’s layer 2 growth, saying that the $100 billion market cap seemed conservative given the potential of releasing Bitcoin via programmable L2s.
Muneeb went on to say that with new developers and capital entering the market, Bitcoin L2s are likely to quickly emerge as a top category in the next cycle. He expects three to five new L2s to be launched within six months, followed by ten more within 12 to 18 months.
