Most DeFi protocols cannot compete with Bitcoin in terms of an efficient monetary network due to lack of decentralization. This was stated by the former director of strategy for Blockstream Samson Moe.
According to him, DeFi project teams have the right to adjust the protocol at any time.
“Money at a fundamental level should be unchanged. If you can make changes at will, then it is no better than a central bank-managed fiat currency,” Moe explained.
The decentralized nature of bitcoin does not allow the protocol to be easily changed, which makes the first cryptocurrency the best candidate for the role of a global monetary system, the expert believes.
He noted that despite the unchanging basis of digital gold, dapps developers can use second-level scaling solutions.
Moe is a strong supporter of the Bitcoin Lightning Network (LN) micropayment network. The technology allows you to make fast and inexpensive transactions.
“Lightning will replace Visa, Mastercard and everything else. And this will reduce costs for sellers, which means better service and savings for consumers,” Moe believes.
In November 2021, he stated that LN “allows bitcoin to become a decentralized medium of exchange on a planetary scale.”
Recall that in April, JAN3, a startup founded by Moe, raised $21 million at a $100 million valuation.
Found a mistake in the text? Select it and press CTRL+ENTER