Mark Cuban, the billionaire investor and owner of the Dallas Mavericks basketball team, said a while ago that he owns quite a bit of Bitcoin, but that his crypto portfolio also includes ETH. While his first thought was that Ethereum is pretty close to Bitcoin, Cuban thinks the future of the crypto industry will depend largely on ETH-based developments.
In a recent interview, Cuban says he was heavily impressed with Ethereum as it has smart contract capabilities and leads to decentralized finance (defi) space. Although Ethereum’s popularity has had a serious drawback, it has built its reputation as the go-to network for those looking to build new cryptocurrencies and decentralized applications over the past few years.
Many people are now looking for ETH to develop their projects, but it’s a network where the blockchain is heavily blocked by traffic, slow speeds, and high transaction fees. As a result, Vitalik Buterin, co-creator of the world’s second largest cryptocurrency by market cap, claimed that the blockchain is no longer scalable, or at least not as powerful as it used to be.
However, everything is about to change with the launch of Ethereum 2.0. Ethereum 2.0, which entered its initial stages last December, caught the attention of almost all crypto fans, including Cuban.
I think applications that take advantage of smart contracts and extensions in Ethereum will overshadow Bitcoin. Bitcoin has now evolved primarily as a store of value, and using it for anything else is extremely difficult. You really need to work a lot more on Bitcoin than on Ethereum.