‘Daring to Be Different’ Is the Only Way Ethereum (ETH) Can Be Overtaken
Stablecoins are viewed as being a huge driver of ETH’s utility as data aggregator Messari recently indicated that on some occasions, core ETH transactions are quite lesser than ETH-Stablecoins transactions. Alluding to the fact that there may be no DeFi without the Stablecoins.
However, Ethereum only transacts USD-based Stablecoins. Qiao Wang advocates that other smart contract assets explore this opening by integrating Non-USD Stablecoins which may be Ethereum’s backbreaker.
The analyst isn’t however oblivious of the fact that it may be difficult to integrate non-USD like the Pound Sterling, the Euro, the Japanese Yen Stablecoins due to negative interest rates, and other macroeconomic factors. He sees a groundbreaking project of such having the potential of impacting DeFi adoption and cross border remittance payments.
In the light of Cardano’s Shelley upgrade, Cardano’s founder Charles Hoskinson spoke along the line of competition stating Ethereum will soon feel pressure from Cardano due to Shelley upgrade. This however brings to mind the question if Ethereum could truly be overtaken while still following its trail.