Sunday, June 16, 2024

Bitcoin and Ethereum will face several competitors in the future thanks to a multi-chain future, according to experts.

Ethereum and Bitcoin face a multi-chain future. These crypto market giants may have to give up their positions to blockchains and new networks.

At the Mainnet 2021 event, analyst William Withiam and CEO Messari Ryan Selkis stated that the environment offers many ways to grow your capital. This leads to the question of how bitcoin will remain useful in the future. Although both analysts and the CEO are confident that multi-chain is the way to go, bitcoin shouldn’t be dismissed entirely. Watkins argued that while trading in bitcoin, people are macro-focused. Ethereum is more growth-oriented.

Both assets will remain relevant, but bitcoin is not the sole value crypto asset. In the near future, another crypto asset can easily take over. Withiam further stated that “a new economy will emerge” on various blockchain platforms, including Ethereum.

In another discussion, the founder of Terra LUNA, Do Kwon, shared the notion that a multi-chain future is beneficial to all. In fact, he states that it’s a bad idea to save all your apps on a single computer. This is like putting everyone you hate in the world in the same place where you reside.

New protocols like Solana and Avalanche have a great ecosystem that makes it impossible for them to create great products. Most importantly, regardless of the types of cryptocurrencies built like blockchain, perhaps it is more sensible to create a multi-chain future.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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