Ryan Watkins, chief analyst at cryptocurrency analysis firm Mesari, suggested that ETH could overtake Bitcoin (BTC) as the largest cryptocurrency once the Eth2 reform is complete and the rate is confirmed.

Watkins, who appeared on YouTube on FinTech Today on March 18, noted that although he does not know if bitcoin “will change or when”, he believes that ether may become the leading cryptocurrency in the future thanks to Eth2, and says that:

“The essence of selling Bitcoin on Ethereum as a stockpile of valuable assets is that its monetary policy is very predictable and the Bitcoin blockchain is extremely secure. I think that with the transition to Eth2 and proof of effort […] Ethereum can be safer than Bitcoin. ”
Watkins also highlighted the change in Ether’s underlying economy during the transition to Eth2, and highlighted the expectation that Ethereum’s incoming internal combustion engine will destroy Ether at a rate faster than the establishment of a new supply.

“Ethereum’s monetary policy will actually change on Eth2, so it will not be less inflationary than Bitcoin, but rather deflationary. So every year there is actually less and less ether because it burns out.
He posed the following question: “If Ethereum is more secure and has tighter monetary policy, then what is the bullish state of Bitcoin in this scenario?”

Watkins also pointed to the “huge” and “diversified” economy built on Ethereum, pointing out that the booming sector of decentralized online applications over time will attract new users at a faster rate than Bitcoin.

“At some point, the Ethereum economy is starting to attract so much capital, both human and financial capital, that is actually a strength of the global economy,” he said. “Ethereum’s GDP actually competes with many large countries.”

“People can earn a living in this economy,” he added.

According to the Blockchain Center’s Flipping Index, which uses eight calculations to measure Ethereum’s strength against bitcoin, Ethereum is currently 65.6% as bitcoin after bouncing off a full-time 72.3% in early February. …

The index shows that Ethereum has already surpassed Bitcoin in terms of number of contracts, number of transactions and total transaction fees.

Source: CoinTelegraph