Bitcoin (BTC): altcoins deserve more consideration!

Matt Corallo, an early developer of BTC Core, said Bitcoin (BTC) maximalists should respect altcoins more. According to him, some of the alternative cryptocurrencies have potential, just like bitcoin (BTC). Recall that BTC Core or Bitcoin Core is a flagship open source software that promotes the operation of the Bitcoin blockchain.

Bitcoin maximalists should stop attacking altcoins

The first cryptocurrency by market capitalization has a lot of strong supporters like Michael Saylor and Max Keizer. These believe that BTC is the only digital asset that deserves interest. But, according to Bitcoin developer Matt Corallo who is a co-founder of Blockstream, the bitcoin maximalists are wrong. Indeed, they should avoid labeling other cryptocurrencies as scams. They better respect altcoins because many of them are very useful.

Corallo felt that some alternative protocols are in no way intended to scam users. As proof, in the past two years, enough money has flowed into these networks. For Corallo, the negative behavior of bitcoin maximalists towards altcoins slows the progress of the cryptocurrency industry.

You should know that currently the crypto community is mainly divided into two groups. On the one hand, there are proponents of Proof-of-Work (PoS) and BTC. They believe that there is nothing more significant in the crypto sector than these two elements. On the other hand, there are those members who believe that the use of Proof-of-Work consensus is very harmful to the environment.

According to Matt Corallo, bitcoin (BTC) maximalists obviously have every right to stick with their favorite digital asset. They are right to praise its unique nature. However, they should refrain from treating other crypto protocols as useless projects. After all, many altcoins like Ethereum (ETH) have significant use cases too.

Receive a summary of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential!

Similar Posts