Cardano lays out ambitious plans to develop Bitcoin DeFi by 2025 Cardano founder Charles Hoskinson spoke about the key role his company Input Output Global (IOG) will play in the development of Bitcoin's decentralized financial (DeFi) ecosystem.
He shared exciting plans for how the company will play this role. This announcement highlights Cardano's growing involvement in Bitcoin's development and, in particular, the growing demand for Bitcoin's utility enhancement. In a recent update via X, Hoskinson outlined IOG's strategy to advance the #Bitcoin #DeFi initiative in 2025.
He set an ambitious goal of presenting a meaningful demonstration by May 2025. To achieve this goal, IOG will partner with Fair Gate Labs, a company specializing in multilateral computational protocols, and will expand collaboration with community-driven projects and wallets. A specific timeline for a minimum viable product (MVP) has not yet been determined, but Hoskinson emphasized that there is a lot of potential and a huge amount of work ahead. He also expressed enthusiasm for unlocking the untapped potential of bitcoin's DeFi, calling it the awakening of a sleeping giant.
The move comes shortly after #Cardano partnered with BitcoinOS Bridge to offer a DeFi solution for Bitcoin. Cardano's recent technical improvements, including the successful Hydra Doom trial, have achieved the remarkable milestone of one million transactions per second. and has demonstrated the ability to scale efficiently. This robust infrastructure is expected to benefit Bitcoin's vast user base as they explore new DeFi services.
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