Guggenheim Co-Founder Thinks Utility Of Etherum Is Much Higher Than That Of Bitcoin

The co-founder of Guggenheim, in an interview with Bloomberg, expressed his opinion on Bitcoin. That according to him, the smart contract functionality makes Ethereum more practical compared to Bitcoin.

Todd Morley believes that any industry that does not maintain a strategy to revamp itself technologically will run out of trade. The co-founder carried on that industries like insurance should have a technology strategy as it can be crucial for its survival when another company shows up with a more effective technological approach.

Morley says Blockchain is one of those technologies that is rapidly diversifying its use cases in various fields across the globe. The co-founder concurred that the total application devs on Ethereum have been increasing for the last six years even quicker than Moore’s Law.

Gordon Moore, an American-based, engineer observed that the amount of transistor tightly integrated into circuits increases two folds after every two years. In Layman’s terms, the capability of a computer increases significantly after every few years. This causes a price decrease, which people have to pay.

Todd states currently, no platform provides an Ethereum approach to assets and utility function deployed on a significant scale; hence he is anticipating to be the one to do so.

Morley’s recent project

Currently, Todd is the chairperson of Overline Network, a blockchain-based project. The primary goal of the project is to link blockchains allowing BTC to connect with Decentralized finance protocols.

At the start of 2021, Overline launched Interchange, a decentralized market that allows trading between various blockchains without gas fees and wrapped tokens.

Overline has two coins, EMB and OL, where Overline is the primary token, whereas EMB offers block rewards to OL miners.

According to Todd, the Overline project would start generating money as the value and usage of the Overline increases. The faster the world adopts digital and tokenized assets, the more likely it is for the OL to generate money.

Because of this, Overline is working with JDS to build a blockchain tower that will contain the vastest non-fungible token museum according, to Morley.

Todd talked about the recent digital asset market wobble and concluded that crypto is still a developing market. Ultimately Todd expressed optimistic words for the digital asset market and believes crypto will have a promising development as time moves on.

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