Why Cardano鈥檚 Hoskinson referred to a Bitcoin soft fork?

3 Reasons Why 2021 is Shaping up to be The Year of Cardano

Input-Output Global CEO Charles Hoskinson announced that he has prepared his segment for the highly anticipated Cardano 360 event. In the mysterious post, Hoskinson hinted at a bug that allowed a hacker to mint 184 billion Bitcoin.

Known as the 鈥淰alue Overflow Incident鈥, the bug was recorded in August 2010 and forced Bitcoin creator Satoshi Nakamoto to fork Bitcoin鈥檚 blockchain to 鈥渄elete鈥 the generated BTC. These were sent to two separate addresses.

A few hours after the event, a new version of the Bitcoin client was released and the chain considered 鈥済ood鈥 overtook the 鈥渂ug blockchain鈥 at block height 74691. The BTCs created by the bad actor ceased to exist.

In the image presented by Hoskinson, other tabs are also visible in his browser. This refers to smart contracts and the platform that will support them on Cardano鈥檚 blockchain, Plutus. Some users speculate that the reference to the 鈥淰alue Overflow Incident鈥 is a nod to the 鈥渄ouble-spending鈥 accusation that 鈥淐ardano never had鈥 a few days ago.

In an earlier post, Hoskinson told 鈥淐ardano fans鈥 that the event would be full of important announcements:

Cardano Fans, you鈥檙e really going to want to tune in to March鈥檚 Cardano 360 Episode. It鈥檚 going to be action-packed!

Agenda for Cardano 360

Led by IOHK鈥檚 Director of Marketing and Communications, Tim Harrison, and Aparna Jue, Product Director at IOHK, Cardano 360 is a monthly event where they give news on the development of the ecosystem.

Bring yer own cushion and don鈥檛 worry. If you can鈥檛 stick around, we鈥檒l be dicing and slicing it and serving it up throughout next week in bite-size chunks.

In the comments section, the majority of the community asked for more news on the deployment of Alonso and Plutus. Harrison also announced the conclusion of his segment for the event, and stated: 鈥渢hat there will be lots coming down the line鈥. He also confirmed that there will be updates on Cardano鈥檚 DeFi capabilities.

The event will start at 17:30 UTC, Input-Output Global further confirmed that partners, team members, and the community will participate. In addition, it is expected that there will be an update on everything that has happened since the deployment of Hard Fork Combinator 鈥淢ary鈥.

ADA鈥檚 price is showing losses of 1.8% on the last day chart. In the last month, Cardano鈥檚 native cryptocurrency only registers gains of 1.6%, showing little reaction to its Coinbase listing and the hype of the event happening tomorrow.

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Why Cardano鈥檚 Hoskinson is referring to a bug that forced a Bitcoin fork?