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Review on Bitcoin by J J
Bitcoin - The first and not the last.
Bitcoin may be a means of preserving currency, immune to inflation. The concept of a decentralized protocol where anyone can create a wallet or account and participate is a powerful global concept. The pressure to innovate in the area of energy consumption could limit adoption from those looking to participate in more eco friendly protocols. Its first mover status has enabled it to accumulate the vast majority of assets on the blockchain.
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The concept of wrapped bitcoin and interactions with smart contract protocols such as Ethereum, have expanded its use case as a collateral in the Defi space, so look for other similar extensions to continue to integrate bitcoin with the various other platforms.
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Pros
- Universal Global Currency
- Limited Supply
- Secure Proof of Work
Cons
- Low throughput
- Energy usage
- Limited capabilities
