Su Zhu, Co-Founder, CIO, and CEO of Singapore-based crypto-focused hedge fund Three Arrows Capital, says that he is skeptical of Ethereum’s long-term dominance over the altcoin marketplace.
Speaking in a recent episode of the Uncommon Core podcast, Zhu said he could see the possibility of other cryptoassets overtaking Ethereum in the future.
Zhu, a long-term veteran in the sphere of digital asset hedge funds, called Bitcoin and Ether the “soundest monies” in crypto due to their distributions and decentralization. However, Zhu claimed decentralization alone was less impactful on the network of both assets adding new users.
As reported by The Daily Hodl, he said,
For the same reasons that Ether gained on Bitcoin over the last year, other networks are now gaining on Ether, so I think that the main reason I see for this is that if you look at average active addresses on Ether, it’s not that much higher than 2017. It’s not double, for instance.
Zhu argued the challenge for Ethereum would be that “users will not necessarily wait around,” for the project to execute its scalability roadmap. He said it would be hard for Ethereum to continue “lording over” other projects as the dominant blockchain, noting such a situation did not make sense from a business standpoint.
The Three Arrows CEO concluded that Ethereum would be able to compete with Bitcoin due to offering a “very different trade-off pool,” but that the Ethereum network is ultimately not “that useful for most people.” Zhu claimed that the majority of users would not benefit from the degree of decentralization that Ethereum says it upholds.
https://youtube.com/watch?v=m_2fDTuh5aU%3Ffeature%3Doembed
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Image Credit
Photo by user Shutter_Speed via Pixabay.com
Source: Read Full Article