Charles Hoskinson Plans to Add DeFi Features to Bitcoin

U.Today - Charles Hoskinson, the prominent crypto entrepreneur behind Cardano, has said he wants to add decentralized finance (DeFi) features to Bitcoin.

output: Charles Hoskinson, the crypto entrepreneur who co-founded Ethereum and went on to create Cardano, has set his sights on adding decentralized finance (DeFi) features to Bitcoin.

In a recent interview with Forkast, Hoskinson, who was part of the early Bitcoin community before leaving to pursue his own projects, said he is now returning his attention to BTC. He explained that he wants to create an ecosystem where users can interact with decentralized applications (dApps) directly using Bitcoin. This would expand the cryptocurrency's capabilities without altering its core design.

“I want to put DeFi on Bitcoin. I want to create an ecosystem where you can spend your Bitcoin directly with dApps, and we can add this functionality to Bitcoin's existing setup without changing anything,” said Hoskinson.

The crypto entrepreneur added that he wants to ensure that the development of this ecosystem remains faithful to Bitcoin's original ethos. He plans to collaborate with the people who helped launch Bitcoin and introduce new ideas that are not hindered by distractions or misaligned motivations.

The goal is to achieve a seamless and efficient integration that aligns with both Bitcoin's strengths and the broader blockchain landscape.

Recent developments, such as Bitcoin's Taproot upgrade, are making it easier to integrate more advanced features into the cryptocurrency. Taproot, which was adopted in 2021, enhances privacy and scalability within the Bitcoin network.

This article was originally published on U.Today