Ethereum Is Still No Equivalent To Bitcoin According To Tether CTO

According to Paolo Ardoino, CTO of Tether and Bitfinex, Ethereum is not equivalent to Bitcoin in its current form.

According to Paolo Ardoino, frequent changes in the Ethereum ecosystem prevent Ethereum from being equivalent to Bitcoin.

Speaking to The Block, Ardoino said: “While Bitcoin is a kind of currency, Ethereum is trying to be a currency and a platform on the other. But ETH cannot compete with Bitcoin in being a currency because ETH does not have a fixed supply and has not yet become a ‘world computer’.” said.

The Ethereum community is huge just a few hours from now. Merge update implementing blockchain to the proof-of-stake algorithm aims to pass.

But Ardoino, the CTO of Tether and Bitfinex, is skeptical of the upcoming update:

“What is The Merge update? problem with transaction fees will not solve Ethereum more decentralized will make it. Ethereum took all the focus with The Merge update, but what will come of it?”

According to Ardoino, Ethereum will not be able to access Bitcoin’s location despite The Merge update:

“The main thing to talk about here is not what the Merge update will bring, but the entity that really reveals the principles on which our industry is built. To tell the truth, the only asset that hasn’t strayed from its path is Bitcoin.”

source site-9