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Cardano Positioned as Bitcoin’s Extension? Fresh Integration Sparks Debate

Cardano-Bitcoin Synergy in Focus: Potential Upside for ADA Amid Controversy

Mark Valerius by Mark Valerius
October 29, 2024
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Key Points

  • Cardano [ADA] has been integrated into the Bitcoin [BTC] network, leading to mixed reactions from the community.
  • The integration is expected to allow Cardano and other chains to benefit from Bitcoin’s network security and large capital base.

The recent integration of Cardano [ADA] into the Bitcoin [BTC] network has sparked debate among the crypto community.

Bitcoin OS, the bridge behind BTC and Cardano, claims that the integration will transform Cardano into an extension of Bitcoin.

Integration Details

According to Bitcoin OS, the Grail Bridge system will enable Cardano and other chains to enjoy the security of the Bitcoin network and its vast capital base of over $1.3 trillion in liquidity.

However, the idea of Cardano being an extension of Bitcoin has not been well-received by the community, especially given the past criticisms of Bitcoin by Cardano’s founder, Charles Hoskinson.

In September, a video of Hoskinson claiming that the industry no longer needs Bitcoin and questioning its long-term sustainability went viral.

Community Reactions

Some users have interpreted the Bitcoin OS update as a sign of Hoskinson softening his stance on Bitcoin.

Others, like Austin Federa of the Solana Foundation, have criticized the move, questioning how low Cardano could go.

In response to the criticisms, Romain Pellerin, CTO at IOHK, the research firm behind Cardano, clarified that the integration will allow Cardano to provide the smart contract capability that Bitcoin lacks.

He further explained that the integration is not about Cardano becoming a Bitcoin L2, but about enabling interoperability between the two chains.

Despite these explanations, many users remain skeptical about the idea of Cardano being a ‘BTC L2,’ as evidenced by a sharp decline in weighted sentiment to the negative territory.

Bitcoin OS remains confident that the integration will boost ADA in the long run, especially from 2025.

However, at the time of writing, the altcoin was struggling below key long-term trendline resistance, valued at $0.36, and up about 4% on the weekly charts.

Only time will tell how 2025 will play out for ADA.

Tags: Bitcoin (BTC)

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