Can Bitcoin, Ethereum And Solana Ever Become 'Hard Money?' Crypto Analyst Draws Parallels With How JavaScript Replaced Fortran

Influential crypto analyst, Willy Woo, recently questioned the potential of Layer 1 (L1) networks like Ethereum ETH/USD, Solana SOL/USD, and Radix (XRD) to become hard money.

Can L1 Tokens Become Hard Money?

The analyst took to X, formerly Twitter, on Thursday, to express his skepticism about the ability of L1 networks to create a situation where their tokens become hard money. He compared these networks to computing environments that historically fall in and out of favor as the needs of applications evolve.

Bitcoin’s ‘Script’ Less Language More Protocol

Woo noted that though he uses Ethereum “every other week” to send the stablecoin Tether (USDT) he can also use other chains to send it. On the other hand, while Bitcoin BTC/USD has a scripting language, it is more of a protocol.

See Also: Donald Trump Says He’s Making Money From ‘Crazy New Currencies’ — Which Cryptos Does He Hold?

The analyst brought up the example of the high-level computer programming language Fortran which was immensely popular in the 1950s and 1960s.

Remember Fortran? Who Uses It Now?

“Fortran was great for banks back in the day but who uses it now? Web2 came along, [and] suddenly JS [JavaScript] became dominant as it catered for an Internet environment. Most big apps today use multiple languages, each being fit for purpose for a subsystem.”

Woo recently observed the nature of holding Bitcoin, which he likened to enduring hardship 75% of the time and experiencing exhilarating rewards for the remaining 25%.

Read Next: Dogecoin ‘Running The Cycle Of 7 Years,’ Says Trader: ‘We Won’t Believe Doge Will Be $2, $9 & $40’

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Posted In: Analyst ColorCryptocurrencyNewsMarketsBitcoinEthereumFortranJavascriptShivdeep DhaliwalSolanaWilly Woo
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