Cinober’s Blockchain Expert Eric Wall Calls Bitcoin “The Satoshi Creed of Decentralization”


Blockchain Expert Eric Wall Says Bitcoin Is The “Supreme Court” Of Altcoins

The blockchain and cryptocurrency lead for Cinober Financial Technology, Eric Wall, recently too up to Twitter to explain how Bitcoin is the ‘foundation’ for all tokens. He pointed out certain ‘factors’ which could potentially make it the ‘Supreme Court’ of altcoins in what he termed “The Satoshi Creed of Decentralization”.

His 21-tweet series described how Bitcoin is the ‘role model’ for all the altcoins essentially because of four major points. The first parameter he talks about is the foundation of Bitcoin. The foundation on which a coin is formed is what is of importance. He credits this to a fundamentally different understanding with respect to architectural design.

A ‘rock-solid foundation’ is what keeps a building or any structure for that matter, strong. He quotes the examples of “religious monuments, skyscrapers or pyramids” which passed the test of time due to its strong foundation.

He applies the same principle to software systems. Software designs, including protocols [TCP/IP, the Internet] and financial infrastructure, play a crucial role in determining the strength of a system. this principle has been well-implemented in the Bitcoin ecosystem. He opines that Bitcoin has now become a “protocol and a financial infrastructure”, which could probably provide a “better and sounder” form of money in the long run.

The second circumstance he talks about is how laying a clear and strong foundation is much more difficult than adding features. Wall further illustrates how adding features is easy as more often than not, it is copying something that is already existing. Irrespective of how many features are added, Bitcoin is way far ahead for competition to even catch up.

The third scene he talks about is the how Bitcoin will never give up on decentralization.

He later argues that the non-creativity of altcoins is what makes Bitcoin the root consensus engine because an increasing number of projects are now facilitating BTC to travel through software applications.

He added: “Bitcoin is going to do primarily one thing and do it well: relentlessly reach decentralized consensus against any odds and in any and all circumstances it possibly can. And just by doing that, it's cementing the foundation stone from where it will power *everything* else.”

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