The CEO of the Citadel firm shared his take on the Ethereum based tokens and claimed one day it will overtake Bitcoin. 

On 10 November, in an interview with Andrew Ross Sorkin of The New York Times DealBook, Ken Griffin- CEO of Citadel (American hedge fund management firm)- passed his statements in favour of Ethereum. 

According to Ken, One-day Ethereum or any Ethereum based token may overtake Bitcoin.

Ken emphasized on the negative factors of bitcoin like lack of efficiency in bitcoin Blockchain, carbon footprint issues, slow transactions speed and also vulnerability to fraud. 

Vulnerability to fraud may be the indication of 51% attack on the network because of the Proof-of-work consensus of the Bitcoin Blockchain network. 

Further ken said that some other crypto on the Ethereum blockchain will give high scale faster transactions and a very low carbon footprint. And that coin will be able to give better use cases for the crypto community. 

Here the statements of the Citadel CEO are right at his place because he is passing his statements on behalf of the future development work in Ethereum.

As per the future planning of the Ethereum’ Developer team, Ethereum will be changed into Ethereum 2.0 and it will take around two years. After the final entry of Ethereum in the 2.0 phase, it will run on the Proof-of-stake consensus and will help to facilitate transactions at low fees and high speed. And obviously, it will be much better over Bitcoin use cases. 

Kenneth Griffith on crypto regulation 

Earlier this, Citadel CEO said that they want to give crypto inclined services to their customers but unfortunately there are some unclear regulation frameworks, so the firm is currently not planning for the crypto-based products.

It is worth to note, in the beginning of the October of this year, Citadel CEO described crypto as ‘Jihadist Call that doesn’t belive in the dollar’. 

Read also: the number of Decentralized Exchanges increasing over centralized: Chainalysis

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