Experts Disagree with The Notion of Bitcoin on Ethereum
There is an aspect of crypto and blockchain, usually utilizing ideas to obtain value from blockchain’s principal success. One instance of such is Bitcoin Hard Forks. Recently, an Etheereum product developer, known as David Hoffman, tweeted his bullish sentiments supporting Bitcoin transactions on Ethereum.
The notion of running Bitcoin on a second faster chain always gets suggested. EOS has been trying to make such happen. The impact of the growth of Bitcoin networks drives the markets with stores of value utility as platforms such as ETH, EOS, and Tron are trying to take advantage of it. However, regarding fast and cheap payments with Bitcoin, Lightning Network (LN) is the most sought after solution.
Experts View on the Bitcoin on Ethereum Notion
Some renowned individuals did not agree with Hoffman’s view, one of them being an Ethereum developer known as Eric Connor. Adam Black, the blockchain founder, also got unimpressed with Hoffman’s viewpoints. Adam views Bitcoin as the best cryptocurrency functional settlement later, as Ethereum is in a struggle when it comes to wrt scale, reliability, and security.
Despite Bitcoin’s ability to hold somewhat value, its worldwide adoption still gets faced with scalability challenges. Nevertheless, due to Ethereum facing some issues, it is moving towards PoS. The efforts of the foundation w.r.t Ethereum 2.0 are ongoing, but output remains about a year away.
Etherem’s network had another unified hard-fork that could also restore the network from the imminent Ice Age. It has helped return block times and network rewards to where they were before the big challenging event in December. Connor also noted that the actual value of cryptos is from its respective network.