Polygon Founder Says Ethereum Is Set To Replace Bitcoin As The Global Standard

Bitcoin still remains the top crypto project in the space. But it no secret that Ethereum has been quickly catching up with the pioneer cryptocurrency. Ethereum’s decentralized finance (DeFi) use cases have been the major contributor behind this space as investors have flocked to the blockchain to earning returns on their crypto holdings. This has given rise to popular Layer 2 solutions like Polygon. Recently, co-founder and COO of Polygon Sandeep Nailwal was on Cointelegraph to talk about the future of the leading smart contracts blockchain. Ethereum is the number 2 layer 1 blockchain, only behind bitcoin. And Nailwal believes that it is only a matter of time before the blockchain takes over as the leading Layer 1 protocol. He credits this to a number of reasons and differences between the two blockchains. Related Reading | Over $5 Billion In Bitcoin And Ethereum Moved From Cold Wallets Amid China Crackdown The DeFi Space Is Booming During an exclusive interview with Cointelegraph, the COO outlines the reasons why Ethereum was set to take over from bitcoin as the leading layer 1 protocol. Nailwal cited the growth of the DeFi space as a major push for this takeover. This is because the majority of the decentralized finance activities were carried out on Ethereum, which made it “the ultimate settlement layer.” Its popularity has pushed ETH to become even more valuable as a blockchain which puts it directly in a position to...