A preferred crypto analyst says one large milestone will decide which altcoin can problem Bitcoin’s (BTC) dominance.
In a brand new technique session, the nameless host of InvestAnswers tells his 444,000 YouTube subscribers that the blockchain to first amass one billion customers will dominate the market.
“All of it goes again to Metcalfe’s Legislation and adoption. So the quicker the event, the extra worth created. And the extra worth created, the extra customers. And the extra customers, the extra worth of the particular chain itself.”
Metcalfe’s Legislation states that the worth of a community is immediately associated to the variety of customers it has.
He says there may be extra innovation happening on altcoin blockchains than on Bitcoin, which can increase worth and appeal to extra customers.
“The variety of builders on different blockchains is much increased than Bitcoin. Due to this fact, I do imagine extra worth may be constructed into different chains past simply shops of worth and funds to do a complete bunch of various stuff. And that can drive extra customers which can deliver a few a lot larger community impact which can improve the worth of the blockchain. That’s key.”
He says that reaching one billion customers is the goal to attain dominance within the crypto area, the identical objective Solana (SOL) set when it first launched.
“Now the successful layer one or the successful blockchain would be the first to onboard one billion customers. I’ve been speaking about this for some time. Lots of leaders of blockchains are starting to leap on that very same narrative. This at all times got here from the unique Solana objective. Now [Ethereum creator] Vitalik Buterin is speaking a few billion customers as properly.
So the race is on. Which chain will hit one billion customers first? And that’s it. The chain that has a pockets with a billion customers wins the day. Due to this fact, you can argue it’s essential to have some alts in your bag.”
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