Bitcoin (BTC) easily succeeds over other cryptocurrencies in multiple key areas, which all but guarantee its future as the standard, noted academic Konrad Southward. Graf has ended.

In the second installment of a two-part interview with Eurasia Review published January. i, Graf highlighted a plethora of "competitive advantages" inherent to Bitcoin.

Graf has sought to proceeds exposure for Bitcoin through academic essays, which expand beyond its machinery of action to situate it inside the broader economic organization.

Scarcity

Bitcoin wins out over other forms of coin — including other cryptocurrencies — largely due to its fixed supply.

"Bitcoin's top competitive advantage… is its ability (to) restrict new issuance, the relative reliability of its methods for decision-making unit of measurement production," Graf summarizes.

Specifically, Bitcoin's supply cannot exist manipulated, nor tin its maximum issuance — 21 1000000 units — always modify to dilute it.

No entity, no matter how powerful in terms of computing power active on the network, can diminish the value of the existing BTC held by savers by increasing the supply. This is in direct contrast to cryptocurrencies with a mutable supply, such as Ethereum (ETH) and XRP, as well as all fiat currencies.

Apolitical value transfer

The in a higher place feature thus makes Bitcoin particularly useful for settlements from anyone to anyone, every bit a financial protocol immune to the trappings of fiat.

Here, Graf touches on Saifedean Ammous' pop book, "The Bitcoin Standard," which extensively examines Bitcoin's advantages over fiat. Ammous also devotes space to how Bitcoin could function as a settlement currency without the need for middlemen.

"Ammous argues that it is in the — for most people quite arcane — field of settlements that Bitcoin could find some of its most competitive applications. It could become non only an in-common non-political coin unit, but also a direct competitor to the SWIFT organization and whatsoever other existing or emerging rivals to it," Graf explains.

He continues:

"In a world where conventional systems are also politicized, Bitcoin has an reward of being "neutral" in the sense that it is controlled by none of the competing ability blocks, which ways that any and all could potentially participate."

Technical prowess

Confronting major altcoins, Bitcoin'southward technical prowess means its position as a market leader has been obvious for years, says Graf.

Equally Cointelegraph has likewise frequently reported, hash charge per unit alone has achieved an club of magnitude ameliorate progress than Ethereum or similar market incumbents.

"BTC currently has 97 exahashes protecting its network to BCH'due south 2.5 exahashes, giving BTC a hash charge per unit 39 times higher than that of even its next closest digital-cash competitor," he continues.

Bitcoin network hash rate vs. Bitcoin Cash

Bitcoin network hash charge per unit vs. Bitcoin Cash, Bitcoin SV. Source: Money.trip the light fantastic

That attribute besides differentiates Bitcoin from imitators with very similar characteristics — the principle may exist the same, but hash rate distribution, or centralization, and activity on those other networks pale by comparing.

It's not an entity

On the topic of centralization, a final advantage Bitcoin has over "corporate" blockchains is its lack of weak points political actors tin target.

That benefit has become all the more than apparent in 2022, the year in which Facebook unveiled and afterward faced a global backlash over its digital currency protocol, Libra.

CEO Mark Zuckerberg appeared before U.South. lawmakers alone several times, amid criticisms Facebook was attempting to remove government monopolies over the proposed stablecoin currency.

"There is no CEO to summon to Washington for interrogation," Graf concludes about Bitcoin.