Blockstack CEO Says Bitcoin Is a Better DeFi Solution Than Most Think

[Goodcat49]

Bitcoin a secure , whereas Ethereum has been a “frontrunner” when it comes to smart contracts.

As interest in smart contracts surges, some Bitcoiners are asking: why can't Bitcoin (BTC) become the foundation for smart contracts too, instead of Ethereum (ETH)?

Muneeb Ali, co-founder and CEO of Blockstack open-source platform, believes that the best way to bring about a user-owned internet "is to anchor applications and smart contracts to the Bitcoin network in a way that uses Bitcoin as a reserve currency and its powerful blockchain as a security mechanism."

In a conversation with Cointelegraph, Ali stated that Bitcoin has been the king of blockchains for more than a decade, as most people have come to recognize that the Bitcoin network is “unparalleled” when it comes to security:

“We believe that the new Stacks 2.0 blockchain, currently in testnet, holds one solution for making Bitcoin the foundation for smart contracts in Web 3.0. With the Clarity smart contract programming language and the Proof of Transfer mechanism, developers can build smart contracts in a much more secure language that is predictable, decidable.”

Ethereum as a frontrunner for smart contracts
Traditionally, Bitcoin has been recognized as a secure network, whereas Ethereum has been a “frontrunner” when it comes to smart contracts, according to Ali. Blockstack’s founder elaborated further on the discussion:

“Bitcoin’s limited scripting language has been seen as a dealbreaker to developers looking to build dapps or deploy smart contracts. As a result, many developers end up building their own blockchains, hoping to bootstrap native proof-of-work protocols or proof-of-stake, but these tend to be much less secure. One of the results is developers assume Ethereum is better suited for launching smart contracts, but I believe this is premature.”

https://cointelegraph.com/news/blockstack-ceo-says-bitcoin-is-a-better-defi-solution-than-most-think

[TomPluz]

There is no question that smart contract market and applications are all growing and this can be the way of the future today. For now, this is dominated by Ethereum and even by Tron. So in case, it can already be possible to make smart contracts in Bitcoin then I am sure this is going to be a big hit. I am looking forward for this and many of us are also with the same conviction.