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Avalanche Co-Founder Doubts Bitcoin (BTC) Supremacy in "15-20 Years"

Mon, 05/09/2022 - 12:43
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Vladislav Sopov
So says Kevin Sekniqi, COO and co-founder of Ava Labs and Avalanche (AVAX) blockchain
Avalanche Co-Founder Doubts Bitcoin (BTC) Supremacy in "15-20 Years"
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Mr. Sekniqi, one of the key figureheads of the Avalanche (AVAX) ecosystem, is not sure that Bitcoin (BTC) is able to remain the #1 cryptocurrency with that level of usage and innovation.

Who will surpass Bitcoin (BTC) in 15-20 years?

Sekniqi has taken to Twitter to share that Bitcoin (BTC) supremacy as the top cryptocurrency by net market capitalization might be on borrowed time in 2022.

This potential "flippening" should be attributed to the lack of innovation and new usage for the orange coin, he foresees. At the same time, many Bitcoin (BTC) competitors are "innovating."

As such, they will most likely "outdo" Bitcoin (BTC). And we do not need to compare Bitcoin (BTC) to Gold (XAU) in this case, Mr. Sekniqi highlights:

'Gold doesn't need to innovate,' that's because there's only a limited amount of scarce elements on the periodic table. Physics doesn't innovate, I suppose.

His opponents responded that Bitcoin (BTC) could save his #1 spot due to its decentralization as its main competitors are losing it, seeking "innovation."

Scalability instead of centralization?

Mr. Sekniqi, however, is sure that innovating blockchains can advance their technical designs even without compromising their decentralization.

As covered by U.Today previously, the Avalanche (AVAX) and Polygon Network (MATIC) co-founders had a heated debate about the ways their blockchains scale.

Polygon (MATIC) Co-Founder Calls Avalanche (AVAX) "Complete Failure," Emin Gün Sirer Responds

Polygon's Sandeep Nailwal accused Avalanche of plagiarizing the concept of subnets, which are actually sidechains utilized by Ethereum's L2s for years.

Avalanche's Prof. Emin Gün Sirer recommended that Mr. Nailwal "innovate or get made fun of" instead of criticizing competitors' tech novelties.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)