Bitcoin DeFi Ecosystem Could Surpass Ethereum, Says Zest Founder

IconCryptoNewsTerminal Staff29 May, 2024

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Bitcoin DeFi Ecosystem Could Surpass Ethereum, Says Zest Founder

Tycho Onnasch, the co-founder of cryptocurrency lending platform Zest Protocol, believes that Bitcoin's DeFi ecosystem could potentially surpass Ethereum's. Onnasch made his remarks during a recent interview with CoinDesk, noting that the growth of Bitcoin's layer 2 solutions and increased user trust could make this possible. "If Bitcoin layer 2 solutions are developed enough and user trust is secured, it is not impossible for the BTC DeFi ecosystem to surpass Ethereum," Onnasch said. While Ethereum has been the dominant platform for DeFi applications, Bitcoin's larger market cap and network security could give it an edge in the long run. However, it is important to note that Ethereum is still the clear leader in DeFi, with a wider range of applications and a more established developer community. Whether or not Bitcoin can surpass Ethereum in this area remains to be seen.

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