Ethereum is set to replace Bitcoin as the main cryptocurrency network, claims Polygon co-founder

“Sooner or later the ETH will overtake Bitcoin and become the global standard”, said the co-founder of Polygon, Sandeep Nailwal, in an exclusive interview with Cointelegraph.

Nailwal thinks so Ethereum will eventually become “the ultimate settlement layer” for the DeFi space. With its scalability solution, Polygon will play an important role in ensuring the long-term success of Ethereum. Despite increasing competition from other Layer 1 protocols such as Solana, It is still too early for Nailwal to speak of an “Ethereum killer”.

“The Ethereum chain is simply out of the reach of any other chain because of its foundations, security, decentralization and the community and trust it has built as a chain over time.” he stated.

Ethereum is set to replace Bitcoin as the main cryptocurrency network, claims Polygon co-founder
Ethereum is set to replace Bitcoin as the main cryptocurrency network, claims Polygon co-founder

According to the co-founder of Polygon Ethereum will even end up being superior to Bitcoin as it has a greater number of use cases. Nailwal believes that unless Bitcoin extends its usefulness beyond just functioning as a monetary system, it may not survive as a Layer 1 protocol in the long run.

“It may take 10 years, but I don’t see a world where there are multiple Layer 1 protocols.”

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