Solana founder says Bitcoin will witness mass exodus of users unless major update is approved

Solana (SOL) co-founder Anatoly Yakovenko has said that the leading digital asset Bitcoin (BTC) will finally see all its users migrate to other platforms unless it switches to a custody test mechanism.

In a new interview with CNBC host Kate Rooney, the founder of the smart contract platform, she says working test mining systems will be sterile in the future, including the best asset. crypto by market capitalization if it does not make the change. .

“I think most of the networks that people will use in the end will be participation testing networks. That’s probably the most controversial thing you’ll ever tell me. [Bitcoin] do not update the participation test, no one will use it. »

Yakovenko says that engineering logistics and energy efficiency are the main factors at play in predicting what kind of systems future blockchain users will prefer.

“I think it’s more efficient to build a participation testing system, so from a technical point of view it offers the same level of security but uses a lot less energy, so why not?”

Yakovenko goes on to say that BTC is better suited to be a value store than a layer 1 network where it can grow, and he’s not even sure it can hold the line.

“I think the philosophy and goals of Bitcoin are about value reservation, and that requires perhaps the simplest implementation you can create. It may work for now, but we’ll see what happens in 10 years.


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Featured image: Shutterstock / Tithi Luadthong / Natalia Siiatovskaia

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