“The problem with Bitcoin is that it’s stuck in time,” the speaker said, as quoted by forklog.com.
According to Hoskinson, making changes to the Bitcoin blockchain is extremely difficult. It was precisely this limitation that once prompted him to help create Ethereum—today, he is one of the co-founders of the second-largest cryptocurrency by market capitalization, alongside Vitalik Buterin.
Now, this same conservatism could work against “digital gold”: the quantum threat to the $1.3 trillion asset is not a hypothetical fear but a real risk, the head of Cardano emphasized. Bitcoin will only survive if network governance ensures meaningful progress. However, any failed hard fork that destroys the asset’s value will inevitably cost it its top spot in the market.
“Bitcoin has withstood the most serious threats—even Satoshi [Nakamoto]’s departure didn’t break it. But quantum computers could be the hurdle it cannot overcome. If the community cannot move forward without compromising its fundamental principles, I don’t believe Bitcoin will remain number one,” Hoskinson noted.
A Focus on On-Chain Voting
Hoskinson called Cardano the “spiritual successor” to Bitcoin. According to his vision, the project builds on Nakamoto’s ideas that he did not have time or did not wish to bring to fruition.
The expert considers formal on-chain governance to be a key advantage. If a threat arises due to cryptographic vulnerabilities, ADA holders will be able to vote for the necessary changes, after which the migration will automatically begin.
The blockchain is currently preparing for the largest upgrade in its history—Ouroboros Leios. Hoskinson predicted a 60-fold increase in throughput. The Musashi Dojo testnet went live on June 23, and the mainnet release is scheduled for late 2026.
Countermeasures
Preparations for the quantum threat have already begun in the Bitcoin community. On July 23, nine companies, including BlackRock, Coinbase, Fidelity Digital Assets, and Strategy, launched a security consortium for the first cryptocurrency. $15 million has been allocated to the initiative.
The funds will be used to support independent developers and researchers, as well as to inform the community about the state of blockchain security. At the same time, the consortium emphasized that computers capable of breaking Bitcoin’s cryptography will not appear for at least several years.
Other networks are also forming similar structures. Earlier this year, the nonprofit Ethereum Foundation formed a team focused on post-quantum security.
