Ethereum is set to replace Bitcoin on October 3, according to Polygon founder

Bitcoin is still the top crypto project in the crypto space, but it's no secret that Ethereum has been chasing this leading cryptocurrency fast.

Were use cases decentralized finance DeFi of Ethereum, is the main contributor behind this space, as investors flock to the blockchain to earn returns on their crypto holdings.

This has given rise to popular second layer solutions such as Polygon , which was the focus of the discussion of the co-founder and COO of the company Polygon Sandeep Nailwal, on the site Coin telegraph Recently, in a talk about the future Blockchain The leader in smart contracts.

Ethereum is the number blockchain 2 Layer 1, completely behind Bitcoin, and Nilewall believes that it is only a matter of time before blockchain takes over the lead layer 1 protocol, due to a number of reasons and differences between blockchain technologies.

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COO explains during an exclusive interview with Cointelegraph Reasons behind appointing Ethereum, to replace Bitcoin as the leading Layer 1 protocol.

Nailwall cited the growth of the D-Fi space as a major impetus for this takeover, and this is due to the fact that most of the decentralized financial activities were carried out on Ethereum, which made it leveling layer Final.

Ethereum has propelled its popularity to become more valuable as a blockchain, putting it directly in a position to overtake the more valuable cryptocurrency, Bitcoin Operations Manager says:

“Sooner or later, Ethereum will overtake Bitcoin and become the global standard.”

He also noted that Polygon will play a key role in the long-term success of Blockchain, with its scalability solutions.

And for more than just beating Bitcoin for the number one spot, the co-founder expressed that Blockchain It may not actually exist ten years from now.

This is due to the limited use cases, as the COO believes that if Bitcoin is to survive in the future, it needs to provide more functionality, bypassing its role as a medium of exchange and investment.

Ethereum Noise Filter

Over time, a number of projects came out of preparation, to compete with Ethereum for its decentralized funding interest, and these projects came to be referred to as Ethereum killers.

Blockchain technologies rose to gain market share of the platform dfi Leading, Solana has been at the forefront of this competitive movement, growing exponentially with its rise against Ethereum.

Despite the growing popularity of other first-tier solutions, the co-founder of Polygon, that there is any Blockchain It can control Ethereum. 

Layer 1 has maintained a majority share of the market, despite the rise of its competitors, and Ethereum is likely to maintain its lead in the market for the foreseeable future.

With evidence of a wedge set to come to the blockchain next year, it appears that Ethereum is set to dominate both the decentralized finance and the crypto space.