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Tether and Bitfinex CTO Paolo Ardoino believes that Ethereum is still lagging behind Bitcoin. And it’s not even a matter of technology, but the very positioning of the second cryptocurrency.
Paolo Ardoino noted thatEthereum's transition to PoS will not help this cryptocurrency much, at least in the early stages. The merger will not reduce transaction fees or make Ethereum more decentralized, nor will it increase network capacity.
“Bitcoin has long been perceived as a form of money,and Ethereum is stuck between the concepts of “form of money” and “platform”. ETH cannot compete with BTC as a form of money, because Ether does not have a maximum amount limit. And Ethereum is not suitable as a “world computer” due to a single blockchain, which gives low speed and lack of scalability,” says Ardoino.
The Tether CTO emphasized that there is currently only one asset in the cryptocurrency space with a clear history and purpose – Bitcoin. On Ethereum, the narrative is constantly changing.
Previously, Paolo Ardoino said that the USDT stablecoin is a tool of freedom and a way to use Bitcoin in real life.
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