According to Charles Hoskinson, the founder of Cardano (ADA), tech tycoon Elon Musk has the potential to introduce 200 million additional people to cryptocurrencies with his recent acquisition of Twitter.
Hoskinson claims that Cardano and three other Ethereum (ETH) rivals are competing to be the most scalable and interoperable protocol at the Web Summit 2022 conference.
“There’s a lot of cool stuff on the horizon. We’re right in the middle of the third generation of cryptocurrencies. The first generation was decentralization. That’s what Bitcoin brought us, and it’s the winner. The second was smart contracts, so programmability and that’s what Ethereum brought us, and the third generation is scalability, interoperability and governance, and there are tons of protocols that are in this space.
You have Algorand (ALGO), NEAR, Tezos (XTZ) and Cardano and so forth, and we’re all kind of battling it out. And eventually, some winners will occur, but on the horizon, we looked at things like the fourth generation and there you have multi-resource consensus, identity built into the system, a lot of post-quantum stuff, so there’s an endless river of cool things that we pay attention to.”
The industry’s adoption, according to the pioneer of cryptocurrency, is rising, and Elon Musk’s potential integration of virtual currencies like Dogecoin (DOGE) with Twitter’s over 250 million users may provide another boost.
“It’s just crazy the scale of things. Three hundred million cryptocurrency users worldwide now. It went from zero to 300 million in 13 years…
Elon [Musk] buying Twitter is probably going to bring crypto to 200 million people there. He has every intention of some form of crypto integration. I think that’s why Binance put half a billion dollars in. He’s obviously a fan of Dogercoin (DOGE), and it’s doing quite well because there’s a belief that there’s going to be some form of integration on the horizon.”
