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, with over 65% of netizens voting in favor.
(Cardano and Bitcoin Cash Integration?)
(ADA, BCH price performance is mediocre)
(Bitcoin Cash promoter arrested last week)
Charles Hoskinson, co-founder of Ethereum, launched Cardano in 2017, which is touted as the “Ethereum killer” and is known for its scalability, lower transaction fees, and faster processing speed compared to Ethereum. However, Cardano seems to have faded from people’s discussions recently and has even been listed by Forbes as one of the “blockchain zombie” companies.
Whether in an effort to boost morale or not, Charles Hoskinson initiated a public opinion poll on the 4th, once again sparking discussions. He inquired:
Charles Hoskinson did not explain why he had this idea. The poll will end in 6 days, and currently, nearly 11,000 people have voted, with 65.7% in favor and 34.3% against.
Cardano is designed with a dual-layer chain model, consisting of the Settlement Layer (CSL) and the Computation Layer (CCL). Charles Hoskinson shared a new architecture for partner chains in 2023, with the original Settlement Layer adjusted to the Certifying Asset and Settlement Layer (CASL), which is still responsible for the final settlement task. The original Computation Layer has been adjusted to the Collaborating Service Layer (CSL), allowing different projects to establish their own computation layer through the architecture of partner chains.
In simple terms, the Cardano main chain focuses on settlement, while the partner chains are somewhat similar to side chains, focusing on the respective computations they need to handle. They have their own consensus and ledgers, and the Cardano main chain is responsible for the final cross-chain settlement, providing security for the entire structure.
Although Charles Hoskinson proposed the collaboration between ADA and BCH, the prices of ADA and BCH have not improved.
ADA is currently trading at $0.4595, with a 1.98% decrease in the past 24 hours. CoinGecko data shows that ADA has fallen by over 20% in the past month, with a decline of over 85% compared to its historical high of $3.09 in September 2021.
ADA price. Image source: Binance
BCH is currently trading at $463.8, with a 0.9% decrease in the past 24 hours. CoinGecko data shows that BCH has fallen by over 32% in the past month, but has risen by over 290% in the past year. However, compared to its historical high of $3,785.82 in December 2017, it still has a decline of over 87%.
BCH price. Image source: Binance
Bitcoin Cash (BCH) is a cryptocurrency that was born in August 2017 through a hard fork from Bitcoin, with the aim of increasing block size and enhancing scalability. Roger Ver, also known as “Bitcoin Jesus,” played a key role in promoting Bitcoin Cash and its usability.
Roger Ver, who owns 131,000 Bitcoins, 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 and is accused by the US Department of Justice of evading taxes of nearly $50 million, as well as being involved in fraud, tax evasion, and submitting false tax returns. The US will seek to extradite Roger Ver to the US for trial.
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Bitcoin Jesus Roger Ver arrested, accused of evading $48 million in taxes, extradition sought for trial
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