Matt Corallo, one of the first developers of BTC Core, said that Bitcoin (BTC) maximalists should respect altcoins more. According to him, some of the alternative cryptocurrencies have potential, just like bitcoin (BTC). Recall that BTC Core or Bitcoin Core is a flagship open source software promoting the operation of the Bitcoin blockchain.
Bitcoin maximalists should stop attacking altcoins
The first cryptocurrency by market capitalization has a lot of fervent supporters like Michael Saylor and Max Keiser. These believe that BTC is the only digital asset that deserves interest. But, according to Bitcoin developer Matt Corallo who is a co-founder of Blockstream, the bitcoin maximalists are wrong. Indeed, the latter should avoid calling other cryptocurrencies scams. They have every interest in respecting altcoins, because many of them are very useful.
Corallo felt that some alternative protocols are in no way intended to scam users. As proof, in the last two years, enough money has flowed to these networks. For Corallo, the negative behavior of bitcoin maximalists towards altcoins slows down the progress of the cryptocurrency industry.
You should know that currently the crypto community is mainly divided into two groups. On the one hand, there are supporters of Proof-of-Work (PoS) and BTC. They believe that there is nothing more significant in the crypto sector than these two elements. On the other hand, there are members who believe that the use of the Proof-of-Work consensus is very harmful to the environment.
According to Matt Corallo, bitcoin (BTC) maximalists obviously have the right to remain loyal to their favorite digital asset. They are quite right to praise its unique nature. However, they should refrain from treating other crypto protocols as useless projects. After all, many altcoins like Ethereum (ETH) also have significant use cases.
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Far from having cooled my ardor, an unsuccessful investment in 2017 on a cryptocurrency only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay information related to this ecosystem with my pen.