Charles Hoskinson is betting on the Cardano network to grow massively over the next five years. He thinks it has the potential to be bigger than Ethereum’s TVL combined with Solana’s. According to Hoskinson, this expansion will be fueled by homegrown development of Bitcoin (BTC) and XRP Ledger (XRPL) technologies on Cardano’s ecosystem.
Hoskinson is personally interested in creating mutually beneficial synergies with the Bitcoin and XRP Ledger ecosystems. He hopes that help provided to the Bitcoin and XRPL initiatives will prove advantageous to Cardano.
Integration Plans and Potential Synergies
Notably, Hoskinson has shared plans to bring Bitcoin and XRP into Cardano’s privacy-focused blockchain, Midnight. It aims to address several ‘big problems’ in the XRP Ledger (XRPL) and Bitcoin (BTC) ecosystems. The Midnighter has revealed that XRP holders will be included in the next airdrop of Midnight tokens–NIGHT and DUST.
"in the next 5 years our big area of growth is likely to come from $XRP and $BTC. We can do things for them, that's a win-win. When you add that together, that TVL is going to be 4x larger than Ethereum and Solana combined." - Charles Hoskinson
All of this comes on the heels of Hoskinson’s meetings with Ripple’s executives, notably the company’s CTO David Schwartz and CEO Brad Garlinghouse. Although a formal partnership between Cardano and Ripple has not been officially declared, Hoskinson has still been promoting XRP.
TVL Growth Projections
For Cardano's TVL to be four times larger than Ethereum and Solana combined, its current TVL must increase by 73,182% to $288 billion. With Cardano’s TVL sitting at $393 million, the TVL of Ethereum and Solana combined is about $72 billion.
Hoskinson hopes that help provided to the Bitcoin and XRPL projects would similarly help Cardano. He reiterated that Cardano’s native Lace wallet will be compatible with the new XRP. Moreover, he stated that he would like to see Ripple increase the acceptance of its RLUSD stablecoin on Cardano.
Strategic Vision
Hoskinson's vision involves leveraging the strengths of Bitcoin and XRP to enhance Cardano's capabilities and attract a broader user base. This cascading strategy is designed to further promote a more connected yet collaborative blockchain space.
By addressing challenges within the Bitcoin and XRP Ledger ecosystems, Hoskinson hopes to unlock new opportunities for Cardano and solidify its position in the market. By integrating XRP and Bitcoin into Cardano’s Midnight blockchain, we envision unlocking significant benefits. You’ll experience even greater privacy with more robust functionality as a benefit.
