Endangered Bitcoin as king of cryptocurrencies?
It's been 10 years since Bitcoin was born and you could say it's an eternity in the world of cryptocurrencies.
It seems that things are getting out of hand to the king.
The Bitcoin had a change of course forever in August of last year, when a new challenge was launched in the middle of the debate on the escalation, which quickly became acute. Bitcoin Cash appeared with its sponsors affirming that it was the true ruler and had no rival. Shortly after this Segwit2x completely failed in its launch, which definitely confirmed the status of Bitcoin as "digital gold". Like digital gold, it may not have rivals, certainly, but in the world of cryptocurrency if you may have made your "last move".
Escalation is a constant theme for evolving cryptocurrencies, and if Bitcoin can not scale in the most appropriate way soon, it could be abandoned by investors for a more advanced cryptocurrency.
What does Bitcoin have in store for you in the future?
Currently there are some plans that are being carried out for the oldest and best known digital currency to overcome this serious problem of scale. Some of the solutions that are taken into account include the Lightning Network or network updates, such as changing the size of the blocks. But even making very large changes in the network could make you fall or stumble again.
We have already seen it with the failure of the "potential" update to Segwit2x. Larger blocks could solve the problem, but it would follow the same path as Bitcoin Cash. Although this is unlikely to happen.
Very difficult to dethrone
We all know that it is very difficult for Bitcoin to be dethroned, since we know that Bitcoin is well established in the cryptocurrency space, and will probably be a leading currency for a long time while people refer to Bitcoin rather than to anything else. But as people explore, be curious, and demand other things. Bitcoin would be in trouble. Changes are necessary, but although we know that Bitcoin will not fall so easily on its sword, it will have to make drastic changes. So that his failure does not continue continuing