“Creating altcoins is more profitable than modifying bitcoin”

Blockstream CEO Adam Back said that creating new altcoins is far more promising today than modifying bitcoin functionality.

This was Adam Beck said at the cryptocurrency conference Transylvania Crypto Conference. The cryptographer is confident that despite the passage of five years from the moment sidechains appeared, they simplify the introduction of new functions in bitcoin. However, developers prefer to create their own altcoins, since they see in them much more financial advantages. Creating a coin is more profitable than developing a sidechain without a new digital asset.

“Before, many altcoins were no different from each other. Now altcoins have evolved – they have various interesting functions. Some of them really work, while others are just a marketing ploy, ”Adam Back at a conference in Romania.

According to the expert, in order for sidechains to become more competitive, changes are needed. We are talking about evidence with zero disclosure, which can solve the current problems of sidechains associated with a low level of decentralization. Back admits that creating fully secure and secure sidechains takes time.

In September, Adam Beck announced that the Bitcoin dominance index will return to past record highs, and its price could rise to $ 50,000.