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Cardano Founder Aims to Create Network Cross Chain for BTC, DOGE and ADA

Sat, 04/16/2022 - 14:35
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Tomiwabold Olajide
Charles Hoskinson recently proposed creating a new decentralized social media platform
Cardano Founder Aims to Create Network Cross Chain for BTC, DOGE and ADA
Cover image via stock.adobe.com

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Cardano founder Charles Hoskinson recently proposed creating a new decentralized social media platform from scratch together with Tesla Elon Musk in case the billionaire's audacious attempt to take over Twitter fails.

In response to a user who asked if the decentralized media platform would be used across chains, the Cardano creator said it would be a cross-chain network with Bitcoin, Dogecoin and Cardano.

The Twitter user had asked, ''Great idea, but will it be able to be used across chains and not limited to Cardano-only? If it is only limited to Cardano or any single chain, then I don’t think it qualifies as true decentralization.''

As reported by U.Today, Tesla CEO Elon Musk made an offer to pay $41 billion to make Twitter private, claiming that the unsolicited bid was meant to protect freedom of speech. Before that, he acquired a 9.2% stake in the company.

In response to Musk's bid, the Twitter board seems to have adopted the ''poison pill,'' as covered by several media outlets. The company is intent on fending off the billionaire's bid to buy it in a deal that could be worth more than $40 billion.

Cardano Vasil hard fork targets June 29 release

Cardano's big update, the Vasil hard fork, is expected to land in June. The upgrade in question appears to be named after Vasil Dabov, the late Bulgarian mathematician who was a prominent member of the Cardano community.

Speaking on the expected update, Cardano founder Charles Hoskinson said, ''This is one of the most important updates we've done in a long time.''

In a recent mid-month update, IOHK shared the latest on network performance and status on preparations for the major June Cardano release, including the target date for the Vasil hard fork, which is June 29. Plutus script referencing and reference inputs are among the major improvements planned to be included in the June Vasil hard fork.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.