Entrepreneur and long-time bitcoin enthusiast Andreas Antonopoulos believes that it is unlikely that any cryptocurrency in the foreseeable future will be able to displace bitcoin and ether from the pedestal.
Antonopoulos noted that from time to time, there are “new bitcoin killers” – cryptocurrencies that are easier to use and better scaled. However, it is the differences from the first cryptocurrency that prevent them from becoming the new digital gold.
“As far as the new cryptocurrency have to be different from bitcoin? This is a real question, because if they differ too much, they will occupy a different niche,” antonopoulos said.
The cryptocurrency enthusiast also recalled the history of Ethereum, which at one time was an innovative cryptocurrency. Ethereum introduced smart contracts based on virtual machines and took its own niche, but did not displace bitcoin.
New cryptocurrencies will be able to become leaders only if bitcoin and ether are destroyed. For example, a critical vulnerability is identified that cannot be fixed.
In the spring of this year, Antonopoulos expressed the opinion that in order to use bitcoin in the financial sector, it is necessary to develop scenarios for its practical application.