Hi everyone,
distributed ledger technology is the future, I think most people agree on this, but why bitcoin?
Bitcoin is the oldest system, it is not scalable, it needs second layer scaling solution, it is energy consuming, there is few big mining pools and is not very decentralized. There are other problems too.
Woudn't a 3rd generation blockchain that is more decentralized in practice, less energy consuming, cheaper, and offer smart contracts and many more possibilities surpass bitcoin at some point?
Is the first move advantage so big, is there something else I am missing?
Most of the POW algorithms at the moment are very popular like BTC, ETH but it has one drawback is that it cannot be expanded.
This causes the project to run the POW algorithm. In contrast, Projects running POS algorithm have shown very good expansion but the weak point is not high security. I have researched and discovered a project that runs the POW algorithm but is superior to other projects, it is also considered a good upgrade of ETH and is considered a 3rd generation blockchain. That's the Conflux project, you can see it here:
https://www.conflux-chain.org/Conflux uses POW algorithms like BTC and ETH, but its advantages are scalable like other POS projects, which is a great thing for future projects.