Thursday, April 18, 2024

Ethereum will supplant Bitcoin as the dominating crypto network, asserts Polygon co-founder

Sandeep Nailiwal, the co-founder of Polygon, recently revealed during an interview with Cointelegraph that he believed that Ethereum would overtake Bitcoin.

According to Nailiwal, Ethereum is set to become the ultimate layer of settlement when it comes to the Decentralized finance space. Polygon offers a solution for scalability that plays a key role in giving Ethereum the momentum it needs. This is even as Ethereum faces competition from other layer one protocols, such as Solana or SOL.

Ethereum to Overtake Bitcoin

Sandeep Nailiwal believes that Ethereum has a greater number of use cases, which is what will play a decisive role in helping it get ahead. He further went on to say that Bitcoin can’t compete with other layer one protocols if features aren’t expanded beyond where they are at now.

He also said that even though it may take time, Nailiwal does not believe that there will be a future where there are multiple layer one protocols. According to him, it may take around ten years, but ultimately there will be a single dominating layer one protocol.

Ethereum as the Dominating Layer One Protocol

The Ethereum chain, due to its fundamentals, decentralization level, security, as well as its reputation within the community, is beyond the reach of other chains. Nailiwal said that sooner or later, Ethereum will end up outpacing Bitcoin to become the global standard for cryptocurrency. He also said that it was too early to talk about a killer for Ethereum.

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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