The debate over the competition between Ethereum’s native cryptocurrencies, Bitcoin (BTC) and Ether (ETH), has attracted market attention.
Take this opportunity to see Hunter Horsley, CEO of Bitwise Digital Asset Management company, discussing it and taking part. The story is “eth doesn’t compete with Bitcoin.”
For Horsley, Ethereum Network’s true rival is Web 2.0 and traditional financial services software. According to the executive, the ecosystem carrier created by Vitalik Bugerin is against the current infrastructure where banking, fintech and centralized applications work. Its main purpose is to transform the technological foundations of financial services, social networks and other digital platforms.
His vision is similar to that of Eric Jackson, an investor and founder of EMJ Capital. The next five years will be an intelligent contract Sessions are guaranteed identity On-chain. Despite this optimism, it seems difficult for a kind of “Etherunization” of the financial world to be implemented in such a short time.
Meanwhile, Horsley projects: “We’re moving away from the vision that all assets are the same and different market capitalizations over the next 6-12 months,” adds:
“We are going to move towards the conclusion that we have similar technical foundations to the ‘iPhone application’ but have very different use cases and opportunities. There is also unevenness in blockchain opportunities. ”
Hunter Horseley, CEO de Bitwise.
In other words, businessmen advocate for the market Stop looking at digital assets as competing tokens for capital lettersand begin to evaluate their functional differences. Something similar to what happens in cellular applications: you can use the same base technology, but each solves different problems and has its own possibilities.
However, it is normal to compare Bitcoin with ETH. The reason is simple. Both are digital assets that seek to attract investors’ capital. Yes, they compete for its capital.
No one denys that they are different, but that doesn’t mean that comparing them makes no sense when evaluating opportunities to benefit.
For many investors, Bitcoin is considered “digital gold” due to its similarity to precious metals: This is a decentralized and resistant asset to government censorship. Ether is known as a “digital oil.” This is because it supplies all Ethereum machines. This ranges from intelligent contracts to decentralized applications (DAPPS) and other services.
Horsley believes that BTC and ETH represent complementary models within ecosystems, but the reality is that comparisons between them are inevitable.