Self proclaimed Bitcoin creator fans the flames of rivalry between BTC and Ethereum

Ethereum founder Vitalik Buterin revealed that Ether was initially going to be launched on Primecoin, a PoW chain.
Wright criticized Buterin for Ethereum’s centralization, adding fuel to the long-standing rivalry between the two largest cryptocurrencies.
Dr Craig Wright is the self-proclaimed Bitcoin creator who envisions everything crypto being built on the BTC chain.

Ekta Mourya FXStreet

In the crypto community, there is a long standing rivalry between the two largest cryptocurrencies, Bitcoin and Ethereum, for capturing market share and dominance.

While BTC hands down beats Ethereum at market dominance, higher market capitalization and adoption, Ether supporters envision “flippening” the narrative where Ethereum’s market capitalization will exceed that of Bitcoin, at some point in the future.

Fanning the flames of this rivalry among crypto traders, self-proclaimed Bitcoin creator Craig Wright commented on Vitalik Buterin’s tweet from November 2017, about the creation of Ethereum.

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Wright seizes opportunity to criticize Ethereum for centralization

Dr Craig Wright publicly claims that he is the identity behind the pseudonym Satoshi Nakamoto. Wright commented on Ethereum founder Vitalik Buterin’s tweet from 2017, where Buterin explains why Ether was developed from scratch as a base chain and revealed his initial considerations for the protocol.

Buterin would have considered developing Ether on the Bitcoin blockchain, however, rivalry with BTC developers led the Ethereum co-founder to believe that he may fail to realise his vision if the underlying protocol’s rules change.

Vitalik Buterin’s tweet from November 2017

Buterin then considered Primecoin’s chain, a Proof-of-Work cryptocurrency in the ecosystem. Ethereum’s developers moved away from decentralization and chose to realize Buterin’s vision, building the protocol from scratch.

Wright criticized Buterin’s Ethereum chain for its centralization.

When you are told BTC is stable, the original protocol...https://t.co/aganDpn30M
— Dr Craig S Wright (@Dr_CSWright) January 16, 2024

Author

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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