in

New Crypto Projects Are Genuine Threat to Ethereum, Says Synthetix Founder Kain Warwick

Institutional Ethereum Inflows Outpace Bitcoin for the First Time: CoinShares


The founder of derivatives liquidity protocol Synthetix, Kain Warwick, believes a number of new smart contract blockchains are now legitimate rivals to Ethereum.

In a new interview with UpOnly, Warwick says the pace of Ethereum’s development has allowed competitors to enter the fray.

 

“We now have allowed genuine competitors to emerge that are a threat to the Ethereum ecosystem. And we need to address that as a community. We need to be pragmatic about things and we need practical solutions that work now…

If you say, ‘Well, we’re going to wait for a perfect solution. We’re not going to be pragmatic about this. We’re going to just keep doing what we’re doing until we design something that’s amazing and has no trade-offs and solves every problem,’ other people will come along and they will be pragmatic.”

On the flip side, the Synthetix founder points out that scaling solutions such as Arbitrum and Polygon are boosting Ethereum’s competitiveness against blockchains such as Solana (SOL) and Binance Smart Chain (BSC).

“I think we’re getting there. So Arbitrum is getting close to launch, we have Polygon… There are things within the Ethereum ecosystem that are starting to work, that are starting to you know offset the value proposition of Solana and BSC.

But we’ve got a lot of work to unwind them. And had we done these things earlier, you know we probably wouldn’t have as much to kind of unwind.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix
 

Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Konstantin Tronin





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

I Decided to Buy Bitcoin After the COVID-Induced Global Crisis

Michael Saylor Bought Bitcoin on June 3 2020 After Realizing Owning Big Tech Stocks Doesn’t Work

Coin Bureau: Kusama ($KSM) Could Explode Following Parachain Slot Auction Launch

Coin Bureau: Kusama ($KSM) Could Explode Following Parachain Slot Auction Launch