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.
— ./kevinsekniqi ? good vibes only (@kevinsekniqi) May 8, 2022
It seems fairly reasonable to deduce that the ecosystems innovating faster will eventually outdo Bitcoin.
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'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.
Tomiwabold Olajide
Denys Serhiichuk