Ethereum Gets a Boost: Ether is Dubbed the “Next Currency” While Bitcoin is Expected to Fail

She says Web 3.0, the third version of the internet that experts claim will incorporate decentralisation based on blockchains, will favour cryptocurrencies Ether, DOT, ADA and SOL.

Ether, DOT, ADA and SOL are traded on the Ethereum, Polkadot, Cardano and Solana blockchains respectively.

Prof Alexander says they will enjoy more prominence on Web 3.0 because, unlike Bitcoin, they can carry smart contracts.

Smart contracts are used in blockchains to outline agreements between two parties in an automated way, rather than through human interaction.

For example, instead of needing a bank to approve a fund transfer from client to contractor, the process can happen automatically.

Prof Alexander explained further why she believes Ether, DOT, ADA and SOL will surpass Bitcoin.

• Read more: Binance.US is Constructing an Office in the Solana Metaverse

She told Express.co.uk: “Web 3.0 is here now, and it’s growing. Bitcoin is a blockchain that can’t carry smart contracts. It was a joke from the beginning.

“Ethereum, Polkadot, Cardano and Solana were designed specially for smart contracts.

“The Bitcoin blockchain is obsolete, and if the coin is useless, it just becomes a speculative asset that can be played with by Wall Street giants.

“2022 will be the year of the coin. Ether, DOT, ADA and SOL – these coins power very good blockchains which power Web 3.0.

“Bitcoin uses up far too much energy, these other coins don’t. 2022 will be the year of the coin, but not Bitcoin.”

She continued: “Ether, DOT, ADA and SOL are going to become really important commodities because you will need them to put things on the blockchain.

“They will be the currencies of the future in a way. Maybe decades from now, they will be the currencies.

“This is way far into the future, but the pound, the dollar, the yen will no longer have the relevance that currencies for blockchains have, which will be international.

“The global economy will be powered by blockchains, not countries. This is where I see it ending up.”

Despite Prof Alexander’s scepticism, Bitcoin still has many backers.

Goldman Sachs said last week that Bitcoin could reach a milestone value of $100,000 (£74,000) this year as it continues to take market share from gold.

_______________________

About Skyhigh.Vip  

Skyhigh.Vip is a global institutional investor with a vast interest in Arts / Construction / Education / Business Services / E-Sports and various other growth industries.  

Several of its popular portfolios include GO Chambers which is the world’s largest business chamber listing provider with over 30,000 active chambers as its members.  

Flexgigzz is the Asia leading marketplace for freelancers service and together with SOHO Learning Hub which is an online platform for short courses and both of them aims to be the number one provider in Asia. For growth industries such as E-Sport Authority which is dedicated to providing independent media coverage to all E-Sport News related from around the world and for the art world, there is Atelier Auction which is an investable art auctioneer and being in the art scene for decades.