Ethereum co-founder Anthony Di Iorio applauded the blockchain’s progress in a recent interview, reiterating that “it is where it should be.”
“I think it’s beyond my wildest imagination to know where it is [Ethereum] gone, and it’s become a household name for most people now. It’s just fantastic.
ETH – Is it where it should be?
As far as near-term performance is concerned, the market’s latest sell-off has wiped out over 9% of Ethereum’s market value in the last seven days. However, the asset continued to see entries on the weekly charts.
Iorio also called Ethereum “a project that people saw has an ability to really create a lot of positive change in many different sectors, not just finance.” He added,
“This thing went beyond Bitcoin, goes beyond Bitcoin.”
Bitcoin v. Ethereum
Bitcoin v. Ethereum is not something that the market has not debated before. However, in light of the chatter surrounding Web 3.0, many analysts are now betting big on Ethereum. Daniel Polotsky, the Founder of CoinFlip, agreed when he said,
“Ethereum better supports the development of its blockchain and will have a lighter proof-of-stake mining model than Bitcoin. [which] means it can potentially be the backbone of Web 3.0.
Iorio also explained that Ethereum is a more “flexible, functional and programmable blockchain system,” something that Bitcoin seems to lack at this point. Interestingly, as a result of this, analysts at JP Morgan recommended Ethereum over Bitcoin to potential investors.
Furthermore, Ethereum‘s co-founder also acknowledged the NFT and DeFi craze. According to him, Ethereum can use this sector to possibly surpass the value of Bitcoin.
It should be noted, however, that Iorio was quick to mention,
“I love Bitcoin. I got into Bitcoin in 2012.”
Bitcoin’s goal, according to the executive, is to address “government financial institution and currency deficiencies.”
Now, if one looks at both assets as hedging instruments, many wealth managers would prefer Bitcoin. Even as a better instrument than gold. Against this background, Iorio observed that gold is lacking on the digital side of things. Even so, he remains a gold fan. Moreover, Iorio propounded that Bitcoin doesn’t have many uses, when compared to the yellow metal.
On the contrary, the XRP community has pushed regulators on the issue of “Ethereum / Ether as security”. This is something Ethereum maximalists might want to keep an eye on.
Finally, the co-founder of Ethereum believes that regulators should not approach cryptocurrency as “something that is based on fear”. Instead, he asked for education and research in the sector.
“I really believe that anything that’s fear-based is really not the right approach.”
