Long Beach (CoinChapter) – As the cryptocurrency bull run continues, many conversations are being had about finding the “next Bitcoin.” The top cryptocurrencies have well been established with Bitcoin at the top, but will it always stay that way. Can Ethereum surpass Bitcoin as the top cryptocurrency?
The second-leading crypto in the world is Ethereum. While Bitcoin is more of a store of income, Ethereum is an open-source blockchain with smart-contract functionality. It has a completely different function and Messari senior research analyst Ryan Watkins thinks that could bring more people into crypto than Bitcoin does as he discussed in an interview with Fintech.
“Ethereum has this massive and booming and diverse economy that’s being built on top of it,” Watkins said. “Which are all these applications that are providing all of these different digital goods and services to people. That ecosystem could bring in more people.”
The blockchain has also begun a massive upgrade which Messari thinks could make it more secure than Bitcoin. “I think that the shift to Ethereum 2.0 and proof of stake, which is kind of like a new way of securing the Ethereum blockchain […] Ethereum may actually be more secure than Bitcoin”
The volatility of BTC has long been a sticking point for those in opposition of the crypto. Furthermore, it is a reason Watkins sees countries being unlikely to accept it at large.
“It seems very unlikey that at-large, many countries will adopt Bitcoin as a currency that people use to pay for things,” he added. “I think one is because they always want control of their monetary policy and their currency. Two, I don’t think it’s likely that Bitcoin becomes stable anytime soon.”
Ethereum Has More Usage Possibilities Than Bitcoin
The belief is that Ethereum has more usage possibilities than Bitcoin. As opposed to trying to fit in the world’s current economy, it can simply build its own.
“The way Ethereum becomes money is not actually by being adopted by countries as a currency. The way it becomes money is actually by building his own economy.”