The end of the dependence on Bitcoin according to Charles Hoskinson

In a recent interview, Charles Hoskinson, the founder of Cardano, stated that “the cryptocurrency industry no longer needs Bitcoin to continue growing.” This statement contrasts with the traditional view that places Bitcoin at the heart of the cryptocurrency ecosystem. Hoskinson argues that Bitcoin, with its proof-of-work consensus mechanism, is no longer in sync with the technological advancements needed to meet current demands for scalability and sustainability. He compares the persistent attachment to Bitcoin to a form of “religion.”

In addition to challenging Bitcoin’s status, Charles Hoskinson criticized its underlying methodology, particularly its proof-of-work consensus mechanism, which he considers obsolete and energy-consuming. Hoskinson’s comments highlight a growing debate within the crypto community about the need to adopt more advanced and energy-efficient technologies to ensure the industry’s long-term sustainability.