Cardano Founder Warns Quantum Threat Could Dethrone Bitcoin

Charles Hoskinson, co-founder of Cardano, has warned that Bitcoin's dominance as the largest cryptocurrency may be at risk due to its governance system's inability to respond effectively to the threat of quantum computing.

Hoskinson stated that if Bitcoin's governance cannot coordinate a timely quantum-security upgrade, it could potentially lose its position as the leading cryptocurrency.

According to Hoskinson, Bitcoin is 'frozen in time' because major changes require wide agreement across developers, miners, node operators, and users. In contrast, Cardano has implemented formal onchain governance through which ADA holders can vote directly or delegate their voting power to representatives known as DReps.

Hoskinson believes that this system allows for a clearer route for approving upgrades and is better equipped to handle the challenge of quantum computing.