How eBTC can beat BTC

in #ethereum7 years ago

The problem BTC is having now is that since it has put so much emphasis on the reliability and security of its Proof of Work consensus method it has essentially traded of any chance of transaction efficiency in the real markets. As a corollary, it is also the only cryptocurrency in existence that has successfully gained the trust of the mainstream customer base and as a result added value to the Bitcoin network and its brand marketing. This is an opportunity that is presented to eBTC which has positioned itself as the Ethereum equivalent to Bitcoin. In so doing, if executed correctly, eBTC can take advantage of the transaction speed of the Ethereum network while emphasizing the capability of adding value to its customers through well-written smart contracts. One option that eBTC can add to its feature base is the capability to support a payments system that supports multiple fiat currencies. This will allow merchants and customers to credit transactions over the network using currencies which they are already familiar with while bypassing already existing infrastructure setup by the central banking system. This strategy will essentially present eBTC as a serious alternative to BTC due to its transaction efficiency. Because BTC is currently dominating the mind share of the common crypto enthusiasts Ethererum, through eBTC can equally present itself as the cryptocurrency of choice when making real world products, such as coffee or pizza.