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Founder of Blocktower Capital: the expression “blockchain is not Bitcoin” does not make sense

Founder-of-Blocktower-Capital Ari Paul | Founder of Blocktower Capital

CFO and co-founder of Blocktower Capital investment company Ari Paul said that although people say that blockchain is not Bitcoin, he believes that the real turning point will come when people realize that Bitcoin is more than blockchain, and it can create a new wave of using cryptocurrencies in real life.

"Bitcoin blockchain is first generation technology with limited throughput and features.

BTC can be used on other protocols and networks. The Lightning Network is a layer 2 protocol that allows for numerous fast and cheap BTC transfers that settle to and are secured by the Bitcoin network. People may also use sidechains, drivechains, and other L2 or L3 solutions.

This is wonderful for BTC enthusiasts, since it means that BTC is unlikely to be rendered obsolete by competing protocols that offer incremental improvements. BTC users can access those features or greater bandwidth by using BTC on other protocols like LN.

For example, if BTC users want privacy in the form of mimblewimble or ZK-starks, these 'features' can be utilized by BTC (eventually) by cryptographically locking on-chain BTC to a protocol that offers these features," said Ari Paul.

It is noteworthy that with the development of Bitcoin and the language develops. Now on Twitter there is a discussion about which word to use as a term for transactions conducted using Twitter. Among the options are "Bitter", "Twitcoin-transaction", "Tweep", "Twansfer" and "Twansaction".

Previously, JPMorgan analyst expressed the opinion that the cryptocurrency market has passed the "bubble" phase and looks quite reliable.


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