Autor Cointelegraph By Ezra Reguerra

While Ethereum (ETH) being down almost 40% against Bitcoin (BTC) may give ETH traders some worries, crypto community members on Twitter shared their takes on the possibility of the smart contract platform eventually surpassing the king of crypto assets. On Twitter, the Cointelegraph social team asked the crypto community to share their thoughts on whether Ethereum can eventually surpass Bitcoin. From predicting that it would happen in 2030 to a firm no, members of the community offered a variety of answers. According to Jesus Crypto, there’s a possibility of ETH overtaking BTC in 2030. While the Twitter user thinks that it will be very difficult, the upcoming shift to proof-of-stake (PoS) may play a part in having ETH take the throne ten years from now.Calling Bitcoin a dinosaur, Twitter user WakeNBakeTrades also believes that Ethereum can surpass the top crypto with the help of Polygon’s (MATIC) scaling. They tweeted that: bitcoin is a dinosaur at this point with no actual utility. as long as eth has polygon’s scaling theres a big chance it will surpass btc in the near future with $matic right behind it.— Western Chad (@WakeNBakeTrades) July 13, 2022On the other hand, Rahul Singh argued that it will never happen, pointing out that BTC is digital gold while ETH is the second iteration of the internet. Singh noted that there are many differences between the value of digital assets and digital software. Twitter user CyberKingK agreed with the sentiment and tweeted: Not a chance Bitcoin is king and always will be— Muhammad Jamal Ali (@CyberKingK) July 13, 2022

Bob Shiby also weighed in on the topic saying that “there’s plenty of room for both.” The Twitter user noted that they would hold out on deciding and wait for further developments in Bitcoin while recognizing that there are a lot of tokens relying on Ethereum’s uptime. Related: Ethereum co-founder responds to PoS critics amid upcoming MergeEarlier in July, a decentralized finance (DeFi) researcher said that the change to PoS consensus through the coming Merge will create an economic structure that would allow ETH to overtake BTC. The researcher noted that with the shift, ETH inflation will go down, security will go up and the asset would cement itself as a digital bond.

Crypto exchange OKX has acquired a provisional virtual assets license granted by the Dubai Virtual Assets Regulatory Authority (VARA), allowing them to offer additional services to qualified investors and financial services providers in Dubai, United Arab Emirates (UAE). In a statement, the OKX team told Cointelegraph that the license allows them to extend products and services in the region. Following this, the exchange will also facilitate research and knowledge sharing within the VARA regulatory ecosystem. The team underscored that regulatory compliance is a priority for them as it protects users. According to Tim Byun, government relations officer at OK Group, the compliance framework given by Dubai’s VARA reflects UAE’s leadership in nurturing the future’s global economy. Byun explained that: “Dubai is a pioneer when it comes to regulation of the virtual assets sector, and it is swiftly becoming one of the top global hubs for the industry.”Byun also told Cointelegraph that the VARA license allows businesses to be compliant with mandates such as anti-money laundering, counter-terrorist financing and know your customer. He also mentioned that “at this point, OKX Dubai expects to offer a broad spectrum of virtual asset products and services.”Lennix Lai, an executive at OKX, also expressed that their team is eager to contribute to the local ecosystem and participate in an exchange of ideas that will be important for the crypto space. With this in mind, the exchange will also create a regional hub in Dubai and will build its team and infrastructure within the country. Related: Sports sponsorships sealed amid market turmoil as Man City inks deal with OKXIn March, the UAE government established VARA to provide a legal framework for crypto in Dubai. The law focuses on protecting investors and creating international standards for governance within the industry. The regulator will have authority within Dubai’s special development and freezone areas, not including the Dubai International Financial Centre.Meanwhile, the largest airline in the UAE, Emirates, revealed plans to launch nonfungible tokens (NFT) and implement payments in Bitcoin (BTC) in May. Apart from these, the company is also exploring other blockchain-based technologies like the Metaverse to expand its reach.