Investment firm co-founder Todd Morley considers altcoin more promising than mainstream cryptocurrency.
Co-founder of Guggenheim Partners Todd Morley on Bloomberg TV named Ethereum ‘s main advantage over Bitcoin. According to him, the largest altcoin in terms of capitalization is much more useful than the main cryptocurrency due to the technology of smart contracts. Blockchain is spreading rapidly in all parts of the world, and the number of developers on Ethereum is growing for the sixth year in a row, Morley said.
Guggenheim co-founder and Overline chairman, Todd Morley, is building the world's largest #NFT Museum. He speaks on @BloombergTV
More on @crypto: https://t.co/kW75EqfFSz pic.twitter.com/Tkj9zonPFO
— Bloomberg Crypto (@crypto) May 25, 2021
According to the co-founder of Ethereum Vitalik Buterin, bitcoin may give way to the largest altcoin in terms of capitalization. According to Buterin, the main cryptocurrency needs to improve its technological base to improve energy efficiency.
The developer also recalled the imminent transition of Ethereum to the Proof-of-Stake (PoS) consensus, which will reduce electricity consumption and transaction fees on the network.
Earlier, Ethereum miners managed to earn a record amount per day due to the collapse of the cryptocurrency market. This happened on May 19 against the background of the fact that the commissions for transactions in the Ethereum network rose above $ 1.3 thousand. Part of the commissions are received by miners as a reward.
Guggenheim Partners is a global investment advisory firm focused on investment banking, asset management and insurance.
