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Cardano (ADA), Charles Hoskinson, the creator of Bitcoin (Bitcoin) value proposition for its increasing use in the Decentralized Finance (DeFi) space.
Hoskinson I believe Wrapped coins pegged to the price of Bitcoin will spread like wildfire across a wide swath of smart contract-enabled blockchains.
Wrapped tokens have grown in popularity by essentially giving investors (in this case Bitcoin holders) a way to trade and spend BTC in decentralized applications.
My prediction is that within five years, the majority of bitcoin will not be on the Bitcoin network, and will actually be floating on other networks.
and that [wrapped] Bitcoin is used in all kinds of DApps [decentralized applications] and smart contracts.
[It] With sound monetary policies, it could even be used by nation-states to create a medium of exchange on a per-account basis to actually have a stable currency that can be used for day-to-day transactions within the ecosystem.
It is important to understand that whether it is a Bitcoin live on a Bitcoin network or a Bitcoin live on another network, it is still Bitcoin. “
Hoskinson said wrapped bitcoin is much better than regular bitcoin.
“Actually, the user of the system has already put it [Bitcoin] into the legacy financial system. At least by wrapping them in cryptocurrency, you get self-custody and smart contract-based custody, and everything else.
Much better than the methods currently used in the infrastructure out there. “
Me
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