So says Kevin Sekniqi, COO and co-founder of Ava Labs and Avalanche (AVAX) blockchain
Mr. Sekniqi, one of the main figureheads of the Avalanche ecosystem (AVAX), is not sure that Bitcoin (BTC) can remain the No. 1 cryptocurrency with this level of use and innovation .
Who will surpass Bitcoin (BTC) in 15-20 years?
Sekniqi has taken to Twitter to share that Bitcoin (BTC) supremacy as the top cryptocurrency by net market capitalization might be on borrowed time in 2022.
This potential “turnaround” should be attributed to the lack of innovation and new use of the orange coin, he predicts. At the same time, many Bitcoin (BTC) competitors are “innovating”.
As such, they will most likely “outdo” Bitcoin (BTC). And we do not need to compare Bitcoin (BTC) to Gold (XAU) in this case, Mr. Sekniqi highlights:
“Gold doesn’t need to innovate” is because there are only a limited amount of rare elements in the periodic table. Physics doesn’t innovate, I guess.
His opponents responded that Bitcoin (BTC) could save his #1 spot due to its decentralization as its main competitors are losing it, seeking “innovation.”
Scalability instead of centralization?
Mr. Sekniqi, however, is convinced that innovative blockchains can advance their technical designs even without compromising their decentralization.
As covered by U.Today previously, the Avalanche (AVAX) and Polygon Network (MATIC) co-founders had a heated debate about the ways their blockchains scale.
Polygon’s Sandeep Nailwal accused Avalanche of plagiarizing the concept of subnets, which are actually side chains used by Ethereum’s L2s for years.
Avalanche’s Prof. Emin Gün Sirer recommended that Mr. Nailwal “innovate or get made fun of” instead of criticizing competitors’ tech novelties.
