Hoskinson’s praise extends beyond Bitcoin to encompass the entire cryptocurrency ecosystem, which has grown exponentially over the past decade.
However, advancements in cryptocurrencies are not a sudden phenomenon but rather the result of five decades of research and developments in various fields, including cryptography, computer science and network theory.
From the development of public key cryptography in the 1970s to the creation of peer-to-peer networks in the early 2000s, these advancements have collectively paved the way for the emergence of blockchain technology.
“Great ideas aren’t the product of sudden inspiration but rather a gradual connection of decades of concepts and progress. Bitcoin and the broader cryptocurrency industry are the end result of five decades of innovation,” Hoskinson wrote.
Hoskinson, who also cofounded Ethereum, illustrated this, sharing an image captioned “Bitcoin and the rise of cypherpunks,” which showed a steady progression of technologies, from cryptography in the 1970s to the emergence of proof of work, smart contracts and peer-to-peer networks, to the launch of Bitcoin in 2009. Each step along the way has been crucial in building the foundation for what we now know as the cryptocurrency industry.
The interim period starts after the impending Chang upgrade. Cardano then enters a technical governance bootstrapping phase, which includes bringing DReps and others on-chain.
The interim phase also involves constitution drafting and will expire in early 2025, when a final on-chain version is ratified.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
