Former Head of Blockchain at Facebook, David Markus, believes that Bitcoin will remain the leading cryptocurrency for several decades to come.
David Marcus
spoke out about the future prospects of bitcoin, considering them optimistic. He is confident that over time, the bitcoin rate will grow, since this crypto asset functions independently of the state or organization.
Bitcoin has proved its resistance to censorship by becoming a unique alternative to centralized digital systems controlled by the state or corporations. According to Marcus, the Bitcoin ecosystem will grow stronger with each user attracted, and no other cryptocurrency will be able to dislodge Bitcoin from its leading position both in the near future and in the long term.
“It became clear to me that bitcoin will be the only asset in the cryptocurrency space that will last at least another 20 years, and its capitalization will only increase,” Markus said.
He found it difficult to name an altcoin that could hold second place after bitcoin after a specified period of time, although he is sure that each of them has its own advantages. Right now, Ethereum looks like the strongest of the bunch, aside from scalability issues, Markus said. However, even the transition to Ethereum 2.0 does not guarantee the dominance of ether among altcoins in the future. According to Marcus, the Solana blockchain is “on the heels of Ethereum”, strengthening its position with faster and cheaper transactions.
Marcus’s statements came after the Diem Association announced that it was refusing to launch the Diem stablecoin due to disagreements with regulators. Later, Block Inc founder and Twitter co-founder Jack Dorsey criticized Meta for wasting years of development when those efforts could have been directed towards the development of the Bitcoin network.
Source: Bits
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