Crypto market pundit Nick Tomaino has shared an interesting take on Ethereum’s potential to match up with Bitcoin as the most valuable cryptocurrency. The web3 commentator and founder of prominent investment firm 1confirmation has elucidated on Ethereum’s features, providing a compelling case on why the altcoin could soon match up to Bitcoin’s social and market status.

Blockchain Use Case, User Neutrality Favor Ethereum Over Bitcoin – Analyst

According to Tomaino in an X post on May 10, Bitcoin can be described as the first decentralized currency or store of value created for the people by the people. The analyst explains that the asset’s ascent to a $2 trillion value was based on this premise emanating from “grassroots ethos and belief” among users. 

However, Tomaino believes there is an ongoing shift in Bitcoin’s neutrality and decentralization due to the influx of institutional investors in recent years. The 1confirmation founder said: 

Store of value based on trust in math rather than trust in people is world-changing, but BTC is now the institutional asset of choice for large companies and governments. One entity owns over 2.5% of it.

Tomaino also criticized Bitcoin’s limitations in smart contract programmability, thereby limiting the amount of useful applications it can offer the populace. 

On the other hand, the crypto analyst has described Ethereum as a credibly neutral cryptocurrency and store of value with no growing concentration in the hands of select investors. Tomaino also applauds Ethereum’s extensive blockchain utility as a developer platform facilitating other applications, including

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Author: Semilore Faleti