Bitcoin is believed to be the first ever cryptocurrency to be introduced and hold the leadership of the entire crypto market. Bitcoin was first curated in 2008 by pseudonymous Satoshi Nakamoto. It was known to be a decentralized and disruptive cryptocurrency that was developed to release the threads of several digital currencies that came before it including double-spending and removing the necessity for a central authority.
Despite its plans to replace all fiat currencies on earth and accounted for the title of global currency used across the world. The only technology is recognized ten years old and requires second-layer technologies to stay ahead of the competition.
Bitcoin is comparatively slow to any of the crypto space, and mostly serves the need for a store of value or means of value transfer.
The very next largest crypto asset, Ethereum provides a variety of attributes comparatively more advanced of what Bitcoin offers. At present, there are thousands of altcoins in the cryptocurrency market and every altcoin offer different than the other. The emerging asset class has introduced the most effective CEO in the crypto market to be skeptical of Bitcoin’s future.
During the tweet battle, Armstrong posted about how the early internet developed, and how it can be made better with advanced protocols. It is these advances that can improve the internet for the users.
In the very next tweet, Armstrong concludes with a statement that there are many more to introduce which blockchain will project crypto adoption from 50 million users to 5 million. The Coinbase CEO also believes that the blockchain manages to improve privacy, developer tool solutions, scalability, and decentralized identity.
Bitcoin has already registered as a first-mover advantage and brand recognition, and while these features can be layered over the Bitcoin protocol, the technology behind the first-ever cryptocurrency is lacking as compared to other altcoins in the crypto space.