The "Store of Value" narrative for Bitcoin (BTC) may be under threat due to conflicts of interest in the proof-of-work ecosystem and constant selling pressure, according to Ethereum (ETH) proponent Adriano Feria. Feria also highlights the vulnerability of miners as a challenge for BTC. In contrast, Feria suggests that Ethereum (ETH) has proven its censorship resistance, as attempts to implement censorship measures on its transactions have failed. Ethereum's post-Merge blocks have shown compliance with OFAC sanctions, rejecting transactions involving designated Ethereum addresses. Additionally, Ethereum is seen as net deflationary and brings stable yield for long-term holders, while Layer-2 scaling mechanisms are pushing the boundaries of network performance. Major companies such as Sony and Samsung, along with Coinbase and Kraken, are exploring rollup and appchain solutions on Ethereum's L2s. However, pessimism is surrounding Ethereum's price performance, as the ETH/BTC rate dropped to the lowest level in over three and a half years.
- Content Editor ( u.today )
- 2024-10-26
Bitcoin's PoW Is Bug, Not Feature, Here's Why