So says Kevin Cecnici, COO and co-founder of Ava Labs and Avalanche (AVX) Blockchain.
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- Who will beat Bitcoin (BTC) in 15-20 years?
- Scalability instead of centralization?
Mr. Sekniki, one of the key figures in the Avalanche (AVX) ecosystem, is not sure that bitcoin (BTC) is able to remain the #1 cryptocurrency with that level of use and innovation.
Who will beat Bitcoin (BTC) in 15-20 years?
Seknicki has taken to Twitter to share that Bitcoin (BTC) as the highest cryptocurrency by net market capitalization could be in 2022 at lending time.
It is quite strange to believe the theory that in 15-20 years, regardless of the lack of innovation or new uses, bitcoin will be ranked #1.
It seems quite reasonable to conclude that the rapidly innovating ecosystem will eventually overtake bitcoin.
— ./kevinsekniqi only good vibes (@kevinsekniqi) 8 May 2022
This potential “flipping” should be attributed to a lack of innovation and new uses for the orange coin, he predicts. At the same time, many bitcoin (BTC) competitors are “innovating”.
As such, they are most likely to “out” bitcoin (BTC). And we don’t need to compare Bitcoin (BTC) to Gold (XAU) in this case, Mr. Seknicki highlights:
‘Gold doesn’t need to be renewed,’ This is because there are a limited number of rare elements on the periodic table. I think physics doesn’t innovate.
His opponents responded that bitcoin (BTC) could retain its #1 spot due to its decentralization as its main competitors are losing it, seeking “innovation”.
Scalability instead of centralization?
However, Mr. Seknicki is sure that innovating blockchains can advance their technological design without compromising on their decentralization.
As previously covered by U.Today, the co-founders of Avalanche (AVAX) and Polygon Networks (MATIC) had a heated debate about the scale of their blockchains.
Polygon’s Sandeep Nelwal accused Avalanche of stealing the concept of subnets, which are actually the sidechains used by Ethereum’s L2s for years.
Avalanche Prof. Emin Gun Sirer recommended that Mr Nelwal “innovate or make fun of” rather than criticize competitors’ technological innovations.