MEXCCardano Founder Teases Bitcoin DeFi Roadmap, Here’s What To Expect
Highlights
- Charles Hoskinson has shared update on mission to boost Bitcoin DeFi
- IOG will be collaborating with Fair Gate Labs to achieve the goals
- Community is still speculating on the product to expect from the move
Cardano Founder Charles Hoskinson has revealed a major update regarding the role of Input Output Global (IOG) in boosting the Decentralized Finance (DeFi) ecosystem around Bitcoin (BTC). This update comes amid growing clamor for utility around Bitcoin and recent partnerships between Cardano and Bitcoin.
Cardano To Enhance Bitcoin DeFi In 2025
Taking to his X account, Charles Hoskinson said Bitcoin DeFi is a mission critical roadmap that IOG will pursue in 2025. He said in line with this, he has given the team a goal of creating a meaningfull demo by Bitcoin 2025 in May 2025.
The Cardano Founder said it will collaborate with Fair Gate Labs, a Multi Party Computational protocol to achieve the goals. In addition, Charles Hoskinson said the partnerships will also extend to community projects and wallets. While there is no specific timeline to expect a Minimum Viable Product (MVP), the Cardano founder said there is a lot of work to do.
Bitcoin DeFi is a mission-critical road map item that IOG will be pursuing in 2025 with partners like @FairGateLabs and community projects and wallets. I’ve given the team a goal of a meaningful demo by Bitcoin 2025 in May. It’s an enormous amount of work, but the opportunity is…
— Charles Hoskinson (@IOHK_Charles) December 10, 2024
However, he expressed optimism in the available opportunity, adding that it is time to awake the sleeping giant in Bitcoin.
This latest update comes weeks after Cardano inked a partnership with BitcoinOS Bridge to bring DeFi to the top coin. In an earlier ADA price analysis, the correlation between BTC and Cardano was re-emphasized, underscoring the need to drive Bitcoin’s growth.
Scaling the Right Way To Support BTC
Onboarding new solutions to boost the decentralized finance capabilities of Bitcoin is a big ask for IOG. However, other the past few weeks, the started has conducted a series of upgrades to enhance its mainnet.
One of the latest features the Cardano Hydra Doom testing. Following this testnet showcase, the Proof-of-Stake (POS) recorded a 1 million Transaction Per Second (TPS) milestone.
This massive scaling potential is good for the projected linkup as Bitcoin has a considerably large userbase that may want to explore the DeFi products.
While there are speculations on what the latest update mean for the BitcoinOS partnership, Charles Hoskinson hinted that there is time to implement all it has to do.
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