Tether and Bitfinex CTO Paolo Ardoino believes that Ethereum is still lagging behind Bitcoin. And the point is not even in technology, but in the very positioning of the second cryptocurrency.
Paolo Ardoino noted that the transition of Ethereum to PoS will not help this cryptocurrency much, at least in the early stages. The merger will not reduce transaction fees or make Ethereum more decentralized, nor will it increase network bandwidth.
“Bitcoin has long been perceived as a form of money, and Ethereum is stuck between the concepts of “form of money” and “platform”. ETH cannot compete with BTC as a form of money, since Ethereum does not have a limit on the maximum amount. And as a “world computer”, Ethereum is not suitable because of a single blockchain, which gives low speed and lack of scalability,” Ardoino believes.
Tether’s CTO stressed that there is currently only one asset in the cryptocurrency space with a clear history and purpose – Bitcoin. With Ethereum, the narrative is constantly changing.
Earlier, Paolo Ardoino said that the USDT stablecoin is a tool of freedom and a way to use bitcoin in real life.
Source: Bits
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