Jan 1, 2022
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Proof of Stake Protocol May End Bitcoin Dominance

Bitcoin may lose its market leadership position during 2022. This is the assumption of the head of the Department of Financial Markets of the PRUE. GV Plekhanov Konstantin Ordov quotes RIA Novosti.

An alternative to mining, the Proof of Stake transaction confirmation mechanism should significantly reduce the costs of block formation. Ordov believes that his successful implementation will help the Ethereum cryptocurrency surpass Bitcoin.

“In 2022, we will have a change of leader. Ethereum will become the main cryptocurrency instead of Bitcoin, if the experience of switching to the Proof of Stake confirmation protocol is successful. This will herald a new era of cryptocurrencies, when the performance of the blockchain will surpass all known payment systems, ”he said.

Now bitcoin is ahead of other cryptocurrencies in terms of capitalization – this figure is above $ 890 billion. Ethereum comes next with 440 billion, while Binance Coin comes in third with 86 billion.

The favorable price for the acquisition of Ethereum was previously named by trader Michael van de Poppe. He believes that the most powerful support zone is at the level of 3.6 thousand dollars.

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