Ethereum may be standing out as the better platform for the use of cryptocurrencies for payments, according to an assessment by Coinmonks’ editor, Danger Zhang. In fact, that’s why major part of the most important stablecoins on the market run on Ethereum’s blockchain, he says. BRZ is one of them.
According to him, there are several problems that are making it difficult for the bitcoin to become the currency of the internet. Despite the solutions of extra layers – such as the lightning network – to solve network scalability issues, the volatility still gets in the way.
He cites that even cryptocurrencies enthusiasts prefer to have them as a store of value, than as a means of payment.
For Zhang, the stablecoins running at Ethereum represent a simpler, cheaper and faster means of trading with cryptocurrencies. And in that sense, they end up being better for day-to-day transactions. He cites as an example the tether dollar (USDT), DAI and USD Coin, all pegged to the US dollar.
Ethereum is better for payments
In such context, the stablecoins would be killing the bitcoin as a means of payment, making Ethereum stand out as the future for crypto payments. And that, by the way, has influenced the price of the cryptocurrency. This year, the currency gained almost 100% dollar value, while bitcoin rose at 40%, until the closure of this report.
The BRZ is integrated with ethereum’s blockchain, but is in the roadmap of the Brazilian stablecoin the integration into other blockchains, according to the needs of different platforms and customers. Stellar and even Binance blockchains are on the radar for the future.
