Ethereum-based DeFi applications are the trigger that is expected to drive the ETH price high up this year by many investors. This belief has not been changed even by the two consecutive hacks of the bZx dapp.
However, now the famous Bitcoin supporter and VC investor Anthony Pompliano, aka ‘Pomp’, says that dev teams prefer to build DeFi dapps on the Bitcoin ledger, rather than on Ethereum.
Pomp became engaged in a discussion with the cryptocurrency educator and YouTuber Brad Laurie. The latter supports Ethereum as the basis for DeFi, calling ETH the tech backbone.
Joseph YoungPompliano responds to that, saying that he has had four dev teams pitch him on different DeFi ideas to be implemented on the Bitcoin ledger recently. In particular, he says:
‘Most of DeFi mechanisms are being built on top of Bitcoin’.
ETH has yet to prove that and now most of DeFi mechanisms are being built on top of Bitcoin. I have had 4 different teams pitch me on various Bitcoin DeFi ideas in the last 6 weeks...
— Pomp ? (@APompliano) February 29, 2020
To top it off, Pompliano says that ‘Ethereum is not money’.
It has nothing to do with tribalism. It has to do with the fact that ETH is not money, therefore you can't build defi products without sound money.
— Pomp ? (@APompliano) February 29, 2020
This is why people are trying to wrap BTC and port to ETH.
Wrote about it here awhile ago: https://t.co/dQfFXEmG8F
Arman Shirinyan
Alex Dovbnya
Dan Burgin
Vladislav Sopov