Will Ethereum unseat Bitcoin? Co-Founder of 1inch Anton Bukov bet wild and predicted that ETH will be overcoming BTC once its scalability issue is solved.
According to Bukov, the best scaling solution for Ethereum is zk-SNARK Rollups, a technology that uses a zero-knowledge proof system to reduce the computing resources to validate transaction blocks.
“One million of gas transactions and 100 million gas transactions. Validation of these transactions on zk-Rollups would cost you the same amount of computations,” he explained. Bukov is not interested in Bitcoin , which he sees as unsuitable for developing smart contracts. “I respect Bitcoin technology because it was the invention of all this industry, for sure, but it makes absolutely no sense for any blockchain developers,” Bukov pointed out.
Once the scalability issue is solved, Bukov thinks that Ether will have a good chance to replace Bitcoin as the largest cryptocurrency. Ether , which has long trailed Bitcoin in terms of market capitalization, accounts for 18.2% of the overall cryptocurrency market, according to CoinMarketCap. Bitcoin dominance, meanwhile, is at 42%.
“There is a high chance that Ethereum will overtake Bitcoin in terms of total capitalization,” he concluded.
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