Will Balina's Prediction Come True?
Ian Balina has long been known as a big influencer in the world of cryptocurrencies. He grew in fame during the 2017 cryptocurrency bull run, where he reviewed and recommended ICOs & token sales. His influence might have suffered a bit as a result as many ICOs eventually flopped, but he still commands an impressive following.
Balina's 2020s Prediction
Balina took to Twitter earlier to reveal his prediction for the 2020's in cryptocurrencies which divided his audience.
Some have replied to his tweet with scoffs and mockery but Balina later elaborated on his thoughts.
"BTC has great technology but barely innovates. That's not a long term winning strategy. Charles Darwin taught us this."
Oddly enough Balina could be right in a way. With an ever-changing regulatory, political and monetary world, innovation could be essential. Balina later cited Ethereum's large development community, DeFi (decentralized finance) and stablecoins as a potential reason for Ethereum's growth.
While Ethereum does indeed have one of the largest developer communities along with many use-cases, it does face competition. Many other cryptocurrencies have integrated smart contracts and tokenization to some degree. This not only includes EOS, Cardano and TRON but also Bitcoin Cash which released the SLP tokenization layer and Blockstream's Liquid.
Ethereum's long term success might be dependent on the launch of Ethereum 2.0 which will offer serious upgrades. Seeing that Ethereum 2.0 is due to launch this year, it will be interesting to watch.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado