Ryan Watkins, senior research analyst at crypto analytics firm Messari, thinks Ether (ETH) could replace Bitcoin (BTC) if ETH 2.0 and the transition to proof of shares are complete.
Watkins, YouTube show FinTech Today’In his March 18 episode, he said that Ether does not know whether or when it will replace Bitcoin, only believes that due to ETH 2.0, Ether could be the leading crypto asset from the future:
“Bitcoin’s attraction compared to Ethereum comes from its highly predictable monetary policy and superior security of the blockchain network. With the transition to ETH 2.0 and the proof of shares, I think Ethereum will have the potential to be more secure than Bitcoin. “
Watkins believes that Ethereum’s soon-to-be-launched burning mechanism will also result in the Ether supply being burned faster than the new supply rate.
“Ethereum’s monetary policy will change with ETH 2.0 and Ether will not only have less inflation than Bitcoin but also be deflationary. So the number of Ether will decrease from year to year as it is burned. “
Messari analyst posed a question: “If Ethereum gets more secure and has a stronger monetary policy, what will be left to Bitcoin?”
Watkins also touched on the “huge” and “diverse” economy built on Ethereum. The analyst thinks the decentralized app industry will attract more users from Bitcoin over time.
Ethereum has currently reached 65.6 percent of Bitcoin’s strength, according to the Blockchain Center’s “Flippening Index”. This rate hit an all-time high of 72.3 percent at the beginning of February.