Upgrading the Ethereum network from its current state to the 2.0 version is an event that the entire cryptocurrency community looks forward to, for very valid reasons. First, the change in Ethereum’s highly congested network is expected to lead to a reduction in clogging, a reduction in fee charges, and a higher transaction processing speed, amongst other significant changes.
But another event to look forward to is the possibility of Ethereum unseating Bitcoin in terms of network efficiency. Touching on this in a recent report, Bitcoiners are suggesting that Bitcoin may not be the “alpha” digital currency after all these years. That title may be stolen by Ethereum after the advanced version surfaces. Now, another crypto pundit is confidently challenging these viewpoints.
Marty Bent, a popular Bitcoin podcaster said: “Bitcoin, by scaling in layers, will be able to do anything any altcoin claims it can do. And it will do it significantly better because it will be doing so from an extremely strong base.”
This is a definite statement from a Bitcoin maximalist, and whether it is objectively valid or not will depend on the outcome of Bitcoin and other competing networks, (in this case, Ethereum as it happens to be the closest to Bitcoin). However, it is still possible to make an informed analysis of the possibilities.
Layering to maximize network efficiency has been debated by developers for years. So much that the general consensus is to await supply drying up before any major changes are made to the …
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