Cardano founder Charles Hoskinson proposed on the 4th to integrate Cardano with the Bitcoin Cash network, making Bitcoin Cash a partner chain of Cardano. He also initiated a public opinion poll on this matter, and currently over 65% of the netizens have voted in favor.
(Cardano and Bitcoin Cash Integration?)
ADA and BCH have mediocre price performance
Bitcoin Cash promoter arrested last week
Charles Hoskinson, co-founder of Ethereum, launched Cardano in 2017, which is touted to be more scalable, with lower transaction fees and faster processing speed than Ethereum. It was once hailed as the “Ethereum killer”. However, Cardano seems to have faded from public discussion recently and has even been listed by Forbes as one of the blockchain zombie companies.
Not sure if it’s to boost morale, but Charles Hoskinson initiated a public opinion poll on the 4th, sparking discussion once again. He asked:
Charles Hoskinson did not explain why he had this idea. The poll will end in 6 days and there are currently nearly 11,000 people who have voted, with 65.7% in favor and 34.3% opposed.
Cardano is designed with a dual-layer chain model, divided into the Settlement Layer (CSL) and the Computation Layer (CCL). Charles Hoskinson shared a new architecture for Partner Chains in 2023, where the original Settlement Layer is adjusted to the Combined Asset and Settlement Layer (CASL), which is still responsible for the final settlement task. The original Computation Layer is adjusted to the Computation and Service Layer (CSL), allowing different projects to establish their own computation layer through the architecture of Partner Chains.
In simple terms, Cardano’s main chain focuses on settlement, while partner chains are somewhat similar to side chains, focusing on the computations they need to handle. They have their own consensus and ledgers, with the Cardano main chain responsible for the final cross-chain settlement, providing security for the entire architecture.
Although Charles Hoskinson proposed the idea of ADA and BCH collaboration, the prices of ADA and BCH have not improved.
ADA is currently priced at $0.4595, a 1.98% decline in the past 24 hours. CoinGecko data shows that ADA has dropped more than 20% in the past month, with a decrease of over 85% compared to its historical high of $3.09 in September 2021.
BCH is currently priced at $463.8, a 0.9% decline in the past 24 hours. CoinGecko data shows that BCH has dropped over 32% in the past month, but has risen over 290% in the past year. However, it still has a decrease of over 87% compared to its historical high of $3,785.82 in December 2017.
Bitcoin Cash (BCH) is a cryptocurrency that was born in August 2017, directly forked from Bitcoin. Its purpose is to increase block size and enhance scalability. Roger Ver, also known as Bitcoin Jesus, played a key role in promoting Bitcoin Cash and its usability. With 131,000 bitcoins, Roger Ver hopes to solve all the challenges related to the Bitcoin network through innovative development work on the Bitcoin Cash network. He even plans to introduce support for DeFi protocols on the Bitcoin Cash network.
However, Roger Ver was arrested in Spain last weekend. He has been accused by the US Department of Justice of evading taxes of nearly $50 million and is suspected of fraud, tax evasion, and submitting false tax returns. The US will seek to extradite Roger Ver to the US for trial.