Should the price of Bitcoin be $ 0? A former Google engineer on the best cryptos to invest

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While Bitcoin may be the largest and most ubiquitous cryptocurrency by market cap, it is by no means the most versatile when it comes to utility, said JHL, contributor to Project Serum.

Prior to joining Project Serum, JHL worked as a machine learning engineer at Google, then as a quantitative trader at Alameda Research.

Speaking to Kitco News presenter David Lin at the DCentral Miami conference, JHL said Bitcoin’s technological shortcomings do not mean there is no intrinsic value, as some crypto critics may argue.

“I think there are things that happened before Bitcoin that could be in a similar position, some say gold, and those things are obviously very valuable now, so that doesn’t necessarily mean the price of Bitcoin should. be zero, ”JHL said. “An interesting thing about Bitcoin is that … whatever blockchain wins, Bitcoin will always be one of the fastest tokens to process and one of the cheapest. Regardless of the blockchain, or the set of blockchains that wins, those will likely have a way of connecting Bitcoin to those blockchains, and you can’t say the same about any other token. ”

Bitcoin slipped more than 6% on Tuesday.

JHL noted that Solana is one such blockchain that offers superior transactional properties.

“Solana is a layer one blockchain. It is highly scalable, inexpensive, fast to process, and has a lot of great scalability features that it implements,” he said. “It’s highly parallelized. Transactions on the Solana blockchain can happen in parallel. This is one of the key features that I am very excited about. Another thing is that it adapts to scale. material in the real world. ”

Compared to Ethereum, Solana has several cost advantages.

“Solana is a lot cheaper and a lot faster. One thing a lot of people say is that Ethereum is a lot more decentralized. I think right now it’s true, and Solana is making a lot of improvements. .. and I think in the distant future it can achieve this level of decentralization, ”he said.

For more information on Solana and Project Serum, watch the video above.

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Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. It is not a solicitation to effect an exchange of commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for any loss and / or damage resulting from the use of this publication.

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