‘Bitcoin makes no sense for blockchain developers,’ says 1inch Network co-founder

Bukov mentioned in an unique interview with Cointelegraph that “there is like a high possibility that a lot of chains will try to dedicate their states Ethereum as a higher level.”

Bukov, number 39 on Cointelegraphs Top 100 List for 2022, confesses that Ethereum needs to resolve the scaling issues that restrict its transaction output.

Anton Bukov, co-founder of 1inch Network believes that Ethereum will become the primary settlement layer in a multi-chain, decentralized financing (DeFi), environment.

DISCOVER COINTELEGRAPHS TOP 100 IN CRYPTO and BLOCKCHAIN 2022

Once the scaling problem is dealt with, Bukov believes that Ether has a terrific possibility of changing Bitcoin as the most popular cryptocurrency. According to CoinMarketCap, Ether (ETH) accounts for 18.2% in the overall cryptocurrency market. Bitcoins supremacy is now at 42%.

Bukov doesnt care about Bitcoin (BTC), as he considers it unsuitable to establish wise agreements. Bukov specified that he respects Bitcoin innovation, which was the creation of all this market. Bukov believes that Ether has a fantastic chance of changing Bitcoin as the most popular cryptocurrency once the scaling problem is fixed.

Bukov believes that zk-SNARK rollsups is the best solution to scaling Ethereum. This innovation uses a zero-knowledge evidence to reduce the computing resources needed to confirm deals blocks.

Bukov does not appreciate Bitcoin (BTC), as he considers it inappropriate to establish smart contracts. Bukov stated that he appreciates Bitcoin innovation, which was the creation of all this market. Nevertheless, he thinks it is not ideal for blockchain developers.

” One million gas deals and 100,000,000 gas deals. He explained that validating these deals using zk-Rollups would require the same amount computations.

He concluded that “there is a high possibility that Ethereum will surpass Bitcoin in regards to overall capitaization.”

You can watch the whole interview on Cointelgraph YouTube channel. Do not forget about subscribing!
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Jeannine Cruz– Earnings I am known as Jeannine Cruz, I am a writer and an industrialist by profession. My age is 32 years. My aim is to gather the attention of the targeted audience without being boring and unexciting. I like to utilize the free time in writing my views and thoughts for my book lovers or readers. My most preferred articles are usually about finance and business; however, I have written various topics in my articles. I do not have a specific genre. I get very creative when I have to express myself, I often sing, write or draw to portray my feelings. When it comes to my free time or you can say ‘ME-TIME’, I love to play with my cat, sleep an extra hour, or play my favorite video games.

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