Bitcoin

According to Blockstack’s CEO, Bitcoin is a better DeFi solution for what most people think

With increasing interest in smart contracts, some Bitcoiners ask: Why can’t Bitcoin (BTC) also become the basis for these contracts instead of Ethereum (ETH)?

Muneeb Ali, co-founder and CEO of the open source platform Blockstack, believes that this is the best way to reach an Internet-enabled Internet “It is intended to anchor intelligent applications and contracts in the network so that Bitcoin can be used as a reserve currency and its powerful blockchain as a security mechanism.”

In a conversation with Cointelegraph, Ali explained that Bitcoin has been the king of blockchains for over a decade, as most people have realized that the Bitcoin network is “unmatched” in terms of security:

“We believe that the new Stacks 2.0 blockchain that is currently being tested offers a solution to make Bitcoin the basis for intelligent Web 3.0 contracts. With Clarity’s intelligent contract programming language and proof of transfer mechanism, developers can create these contracts using a much more secure language that is predictable and predictable. “

Ethereum as a favorite in smart contracts

According to Blockstack’s CEO, Bitcoin is a better DeFi solution for what most people think
According to Blockstack’s CEO, Bitcoin is a better DeFi solution for what most people think

Traditionally, Bitcoin has been recognized as a secure network, while Ethereum has been a “favorite” when it comes to smart contractsaccording to Ali. Blockstack founder gave further details on this topic:

Bitcoin’s restricted programming language was seen as a key factor for developers looking to create dapps or implement smart contracts. As a result, many of them are creating their own blockchains in hopes of developing native test protocols. Work or proof of participation, but these are usually much less secure. One of the results is that Developers believe that Ethereum is better suited to launch smart contracts, but I think that’s premature. “

Ali also noted that the future of the Internet will not be a “victim of convenience for security,” but will link that security to web applications, so Bitcoin will be used as a reserve currency along with its blockchain as a security mechanism.

DeFiC, DeFi, in the Bitcoin network

With regard to the Web 3.0 era, Ali believes that the recent “increase in discussion of the possibilities of ‘DeFi’ in Bitcoin” It is remarkable. For the founder of Blockstack, this means that more and more people want to stick to Bitcoin’s security when it comes to financial products:

“A lot of people think that it is easier to recreate Bitcoin through Ethereum, but it actually makes more sense to recreate the functionality of Ethereum through Bitcoin. The takeover is still in its infancy, but people are definitely beginning to value the build to recognize the Bitcoin ecosystem instead of parallel “

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