{"id":158367,"date":"2021-01-19T23:23:30","date_gmt":"2021-01-19T20:23:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-can-scale-on-chain-just-fine-as-a-store-of-value-blockdaemon-ceo-suggests\/"},"modified":"2021-01-19T23:23:30","modified_gmt":"2021-01-19T20:23:30","slug":"bitcoin-can-scale-on-chain-just-fine-as-a-store-of-value-blockdaemon-ceo-suggests","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-can-scale-on-chain-just-fine-as-a-store-of-value-blockdaemon-ceo-suggests\/","title":{"rendered":"# Bitcoin can scale on chain just fine as a store of value, Blockdaemon CEO suggests"},"content":{"rendered":"

“# Bitcoin can scale on chain just fine as a store of value, Blockdaemon CEO suggests <\/strong>”
\n<\/p>\n

Can Bitcoin\u2019s (BTC)\u00a0blockchain handle full mainstream adoption as a store of value, without needing layer-two scaling solutions? Konstantin Richter, founder and CEO of blockchain infrastructure company Blockdaemon, seems to think so.<\/p>\n

\u201cBitcoin is the best cryptocurrency suited for store of value,\u201d Richter told Cointelegraph, adding:<\/p>\n

\u201cIn terms of what the Bitcoin blockchain can currently handle from a latency and throughput point of view, Bitcoin is very strong. If we start talking about using Bitcoin for payments, that\u2019s where the need for layer-2 scaling comes into play, but for people who plan to buy and hold, there\u2019s no need right now.\u201d<\/p><\/blockquote>\n

Bitcoin\u2019s pseudonymous creator, Satoshi Nakamoto, produced the digital asset as \u201cA Peer-to-Peer Electronic Cash System,\u201d as noted<\/a> in the asset\u2019s 2008 white paper. As price and adoption rose, however, Bitcoin\u2019s role seemingly changed from a transactional, cash-like asset, to a gold-like store of value, due to relatively slow transaction times and high fees. <\/p>\n

Near the end of the last Bitcoin bull run in 2017 and early 2018, Bitcoin\u2019s transaction fees rose significantly. Since then, teams have worked on various layer-two solutions for moving BTC around, such as the Lightning Network\u00a0\u2014 although as a store of value, Bitcoin\u2019s blockchain may work fine as-is for now, based on Richter\u2019s comments. <\/p>\n

\u201cInfrastructure and liquidity provisioning are also converging, allowing for new business models to be tested,\u201d he included, adding:<\/p>\n

\u201cExchanges, custodians and financial institutions are looking for bridges to all major protocols which is possible with horizontally scaling blockchains across a common stack which is where we are actively collaborating with protocols to support these integrations and the growth of the stack.\u201d <\/p><\/blockquote>\n

Bitcoin still has the largest market cap of any crypto asset, even after a decade that ushered in thousands of new cryptocurrencies. <\/p>\n