According to Polygon Founder Ethereum Will Replace Bitcoin as Global Standard
As of this writing, Bitcoin has remained the most prestigious and pioneer cryptocurrency. But there is no denial that Ethereum is quickly catching up with Bitcoin and acquiring the space being left out by Bitcoin.
Ethereum’s decentralized (DeFi) operations have been the attraction for both private and institutional investors over the past couple of years. Furthermore, to integrate DeFi with blockchain technologies Eethereum has introduced that company will soon launch Ethereum 2.0 protocol solutions like Polygon.
However, in a recent interview with Cointelegraph, the CEO of Polygon network, Sandeep Nailwal has said that it is only a matter of time when Ethereum will surpass Bitcoin as the number one Layer 1 protocol. He said that there is multiple notable difference between the two blockchains.
He said that one of the biggest reasons why Ethereum will surpass the Bitcoin ass number one blockchain is the recent boom in the DeFi space. The growth of DeFi space is the core reason that Ethereum will push Bitcoin. He further added that the majority of the decentralized finance activities are carried out on Ethereum, which makes Ethereum an ultimate choice for both private and institutional investors.
The popularity of the DeFi space has made Ethereum more trusted and popular in blockchain over the past couple of years. As the result, Ethereum is in a position to overtake the top cryptocurrency.
Sandeep Nailwal also said that sooner or later Ethereum will overtake Bitcoin as the global leader in the crypto market and will establish itself as the new worldwide crypto standard. Ha also added that the future will see an increased and more pivotal role of Polygon in the long-term success of the blockchain with the scalability solutions it offers.
He further added that way technology is evolving its is quite possible that blockchain may in fact not exist incoming 10 years’ time. This is because Bitcoin provides pretty limited options. In order to remain a top dog in the crypto industry Bitcoin needs to offer a diverse range of services rather than just operating as the medium of exchange and investment, Sandeep Nailwal also added.
There are multiple other names that have emerged and developed a diverse range of operations to narrow down the space acquired by Ethereum as well. So, the current era of crypto is the Era of rapid competition. Where Ethereum and other platforms are striving forward while diversifying their operations, Bitcoin can’t remain stationary while sitting at the peak of the mountain. The current one-dimensional strategy adopted by the Bitcoin blockchain would be the demise of the top-notch blockchain if the company did not change its strategy.