Cardano founder Charles Hoskinson is moving fast, revealing new projects like wrappers around Bitcoin to wrap in its own decentralized finance, services like Quantum Hosky. The post, which Hoskinson shared on X, sparked broad speculation when he simply shared a cryptographic hash without any accompanying explanation.
The cryptic post caused a ton of panic in the crypto community, especially Reddit, but X user @RealJohnSanti was the first person to do an in depth analysis. A possible DeFi layer for Bitcoin, based on a zero-knowledge proof (ZKP) bridge to Cardano from Bitcoin, he suggested, was the hash.
Cardano’s Push to Bridge DeFi with Bitcoin via OS Bridge
@RealJohnSanti said the hash could represent a cryptographic commitment, a ZKP proof output, a cross chain state representation, a validator script or address hash, a multi signature or key aggregation, or a CBOR or witness data encoded.
The hash might correspond to the BTC Cardano bridge ZKP, he speculated, and can be used to generate proof and synchronize the state on both chains. In October, Cardano made a substantial stride to bring DeFi and Bitcoin closer together by involving itself with Bitcoin OS bridge.
Bitcoin has the highest liquidity and security of any payment network on the planet, but it is deeply limited in what it can be used to do programmatically. These initiatives of cardano will try to fill this gap and will create a better ecosystem in the coming years.
These developments might be looking for a bit of a cryptographic hash from Hoskinson. The Cardano founder, meanwhile, has hinted at the planned release of many new products in 2025, putting the blockchain platform among the frontrunners in bridging DeFi to Bitcoin.
