In accordance with Polygon’s co-founder, Sandeep Nailwal, it is only a matter of time before Ethereum will overtake Bitcoin because the dominant layer-1 protocol.
Nailwal believes that Ethereum will eventually change into “the ultimate settlement layer” for the DeFi space. Polygon will play a major role in guaranteeing the long-term success of Ethereum by means of its scalability resolution. Regardless of rising competitors from different layer-1 protocols, corresponding to Solana, Nailwal believes it’s still too early to talk about an “Ethereum killer.”
“The Ethereum chain, because of its fundamentals, safety, the extent of decentralization and the neighborhood and the belief that it has created as a chain over time, it’s simply past the attain of some other chain”, he claimed.
In accordance with the Polygon co-founder, Etheruem will eventually prove superior even to Bitcoin as a result of it has the next variety of use instances. Nailwal believes that if Bitcoin doesn’t broaden its utility past the mere financial system operation, it could not survive in the long run as a layer-1 protocol and become a leading crypto network.
“It could take 10 years from now, however I don’t see a world the place a number of layer-1 protocols exist.”