Charles Hoskinson has lauded the Cardano blockchain’s advancements following the recent Chang hard fork. This update, which incorporated onchain governance, marks a significant milestone for Cardano. Hoskinson believes that these achievements make Cardano’s progress dwarf Bitcoin’s accomplishments.

Impact of the Chang Update

In a social media post, Hoskinson reflected on the journey of Cardano and the varied impact it has had on individuals. He celebrated the Chang update as a major technical feat, describing it as “one of the greatest technical achievements in human history.” According to Hoskinson, the update has transformed Cardano into a “distributed system” operating across more than 100 countries. 

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This system, he noted, has never experienced a shutdown and functions without central coordination. The upgrade has seamlessly supported millions of users globally, evolving Cardano into a decentralized network complete with its own governance structure.

Hoskinson’s Views on Bitcoin

Hoskinson has previously downplayed Bitcoin’s significance, arguing that it is not self-sufficient and that the cryptocurrency industry could thrive without it. He has characterized Bitcoin merely as a token with a deflationary monetary policy. He has criticized the Bitcoin ecosystem, stating it resembles a religion and may need to adapt to remain relevant despite its first-mover advantage.

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Hoskinson’s comments have sparked criticism from the Bitcoin community. Analyst Tuur Demester labeled Hoskinson’s views as “classic projection,” while prominent figure Adam Back cautioned that Cardano could still see a 90% drop in value.

Despite these criticisms, Hoskinson remains steadfast in his belief that Cardano’s achievements surpass those of Bitcoin.