Avalanche Co-Founder Doubts Bitcoin (BTC) Supremacy in "15-20 Years"
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.
It is fairly strange to believe the theory that in 15-20 years, despite lack of innovation or new usage, Bitcoin will remain in #1 place.
It seems fairly reasonable to deduce that the ecosystems innovating faster will eventually outdo Bitcoin.— ./kevinsekniqi ? good vibes only (@kevinsekniqi) May 8, 2022MicroStrategy Has 90% Chance of Being Added to Nasdaq 100XRP: Critical Pattern Emerging, Ethereum (ETH) Not Giving Up, Major Solana (SOL) Support HereBillionaire Peterffy: 'Anybody Who Does Not Have Bitcoin Should Have Some Bitcoin'Bitcoin Reclaims $100K as MicroStrategy's Saylor Rejects Idea of Taking Gains
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.
Vladislav SopovPolygon'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.
Alex Dovbnya
Arman Shirinyan
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