Two Blockchain Rivals Top Crypto Market: Ex-Goldman Sachs

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Raoul Pal, a former Goldman Sachs executive, identifies two major blockchain systems as leading competitors in the race to dominate the cryptocurrency sector.

At an interview with Backless, Pal expressed his goal to discover the next cryptocurrency sensation similar to Solana (SOL), following its remarkable growth. He pinpointed two primary possibilities: creating smart contracts on blockchains that use the Move programming language, and leveraging cross-chain compatibility through Cosmos (ATOM).

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He also gives a peak into his portfolio and shares some hot takes on the current state of AI…

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In simple terms, SUI and APT are the main attractions in the Move blockchain community. Meanwhile, TIA, which is built using Cosmos SDK, is an emerging project that’s definitely worth keeping an eye on.

Based on my exposure to experts such as Chris Burniske and Meltem Demirors, along with my observations of projects like Sui Foundation, I believe we’ll see two major contenders in this space. One is the layer-one ecosystems, which are focused on widespread adoption. Layer-2 solutions involve a separate discussion.

During his talk, he pointed out that Sui and Aptos are emblematic of the Move protocol, yet they offer distinctive features and applications. Notably, Cosmos with Celestia and others have offered significant competition. AVAX (Avalanche) is also a potential rival, however, it currently appears to trail behind in areas such as adoption.

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2024-04-16 00:04