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Author: Martin Young, Cointelegraph; Compilation: Tao Zhu, Bitchain Vision Realm
Cardano founder Charles Hoskinson believes that decentralized finance in the Bitcoin ecosystem will surpass all other encrypted DEFI within two to three years.
He preached the potential of Bitcoin DEFI, and at the same time made bold price predictions, and emphasized a new model of bridging BTC under the condition that it did not use a centralized exchange.
“I started to get involved in the field of Bitcoin. I like Bitcoin. Bitcoin has always been an important part of my life. The only reason I am here today is because of the existence of Bitcoin.” He in the YouTube video he released on November 27thSaid.
He expressed dissatisfaction with the early use of Bitcoin, but said“Bitcoin has changed from a sleeping giant who will never wake up in innovation and coma to a wake -up giant. Its scale is four times that of Sorana and Ethereum.”And add:
“DEFI in the Bitcoin ecosystem will surpass DEFI in all ecosystems in the cryptocurrency industry within 24 to 36 months, and this is only because of scale and liquidity.”
HOSKINSON also pointed out the discussion of the current governments around Bitcoin strategic reserves, and said that Bitcoin itself is their entry point:
“I believe,Due to investment inflows and great interests, Bitcoin will rise to 250,000 to 500,000 US dollars in the next 12 to 24 months.“
“Simply put, Bitcoin is the value storage method of the Internet, and because it has the DEFI layer, it will continue to play this role in the foreseeable future.”The model added before.He described it as “DEFI mode”.
Charles Hoskinson talks about Bitcoin DEFI.Source: YouTube
He said that users can “enable the DEFI model” by receiving the Bitcoin Bridge to the packaging tokens on Cardano.This enables Bitcoin holders to participate in the DEFI ecosystem, conduct transactions on decentralized exchanges, use tools that generate income, and keep their private keys.
The Cardano development team announced in October the Cardano-Bitcoin Bridge based on the Grail protocol.
According to the specifications of the underlying protocol, this bridge may be the first step to provide DEFI applications protected by Bitcoin.
