We are entering the next phase of Bitcoin’s maturation: Functional Utility.Chris Terry
I have been immersed in the world of blockchain technology and cryptocurrency since 2017. In that time, I have had the privilege of working on a diverse array of projects — from small community-driven coins to major corporate initiatives. However, over the years my perspective has coalesced around one fundamental realization: Bitcoin’s dominance is inevitable.
In my early days, I was enamoured with the potential of Ethereum and other “Ethereum killers” like Tron, Polygon, and Everscale. I spent countless hours developing various applications and services on these networks. The promise of Turing-complete smart contracts was enticing, offering endless possibilities.
However, over time the limitations became apparent. The demand for complex dApps is limited, and enterprise adoption remains elusive. The primary utility blockchain offers is simple value transfer, and no other network approaches Bitcoin’s security, decentralization, and network effects around this core function. 
Beyond just demand issues, the technical drawbacks of other networks are substantial. The inherent scalability challenges of blockchain trilemma mean sacrificing decentralization and security for greater throughput.  Ethereum gas fees often exceed $1 per transaction — a nonstarter for any meaningful adoption.  Innovations like sidechains and rollups simply add layers of complexity without fully resolving the core constraints.
Moreover, from a regulatory and legal perspective, Bitcoin stands alone in its clarity and acceptance. The SEC, CFTC, and other agencies universally recognize Bitcoin as a commodity — not a security. This provides the legal certainty and minimized compliance that enterprises desperately desire.
Bitcoin’s advantages only continue to grow with innovations like the Lightning Network. Lightning enables effectively unlimited transactions for negligible fees at blistering speeds — 1 million+ TPS for less than $0.001 per transaction. Mainstream financial giants like BlackRock are finally acknowledging that Bitcoin represents an entirely new paradigm for global finance and investment. 
Decentralization — A Fairer Future
A key advantage of Bitcoin is its decentralized architecture. Bitcoin has no central point of control or failure. The network is supported by thousands of nodes distributed globally, with no single entity able to manipulate the protocol rules or transaction ledger. This stands in stark contrast to traditional financial systems and big tech platforms, which concentrate power and control with central intermediaries. These centralized gatekeepers act as toll collectors on economic activity, harvesting user data and dictating terms of service without accountability.
Decentralized cryptocurrencies like Bitcoin enable disintermediation, removing unnecessary middlemen from transactions. Value can be exchanged peer-to-peer, without reliance on banks, payment processors, or tech giants. This promises a fairer future for finance and technology, reducing economic rents and information asymmetries. Bitcoin’s censorship resistance and permissionless innovation offer an alternative to centralized cartels, ushering in a new era of individual financial sovereignty. 
Transparency — Accountability Through Code
Bitcoin also enables greater transparency in finance. All transactions are recorded on a public blockchain, with a verifiable record of each coin’s full history. Traditional finance by contrast obscures activities in opaque ledgers and “black box” systems at large institutions. Layers of intermediaries and regulatory capture essentially make corporate financial activity unmonitorable by the public. The centralized custodianship and “too big to fail” nature of these legacy systems led to the fraud and malfeasance behind catastrophes like the 2008 Global Financial Crisis.
Bitcoin’s transparent system design prevents such problems. With Bitcoin, there are no secret ledgers, privileged access, or doctored books. The full record of activity is visible to anyone, establishing accountability through code. Transactions are cryptographically verifiable, unlike the legal verbiage shielding much of the traditional financial sector from scrutiny. As economist Friedrich Hayek recognized, the pretence of knowledge afforded by central planning inevitably produces distortions. Only transparent systems leveraging distributed information like Bitcoin enable proper incentives and harmonization with market realities. 
BTC / USD Live Price Chart
Bitcoin for Business
While Bitcoin’s core value lies in censorship-resistant value transfer, additional functionality is being built to support business needs. Innovations like smart contracts, tokenization, and programmable money expand Bitcoin’s utility.
Smart contracts executed on layers like RSK allow complex business logic and workflows while retaining Bitcoin’s security assurances. Tokenized assets can be issued and managed efficiently, unlocking new financial use cases. Programmable money via languages like Miniscript will enable dynamic new payment tools and experiences. Sidechains like Liquid provide faster settlements and privacy features tailored for enterprises.
Real-world examples are already emerging. For example, RSK is being used by companies like Money on Chain to build DeFi services on Bitcoin.  The RGB protocol uses Bitcoin to offer a new standard for NFT issuance and trading.  And the JSON transaction format upgrade makes Bitcoin scripting more flexible and expressive for developers.
As these capabilities mature, Bitcoin is poised to become the foundation for global financial infrastructure, supporting trillions of dollars in business value. Its programmability, combined with unparalleled security, makes Bitcoin the trusted base layer for future innovation.
For all these reasons, I am firmly convinced that Bitcoin has emerged as an unequivocal solution. Bitcoin is the only truly decentralized, global, permissionless network for value transfer ever created. As more of the world recognizes this reality, we will enter a new phase where Bitcoin’s hegemony is embraced. While niche use cases may remain, no other network can match the security, stability, and predictability of Bitcoin. It is the undisputed monetary network for a globally connected future.
With that said, I hope you follow the next phase of my journey: BTCdata Corporation where we are developing a data portal that will allow anyone from a Fortune 50 company to an individual instantaneously generate revenue from a single point of data they wish to share. Our AI toolset will even help you find hidden data in your systems that is ripe for monetization. For more information please visit our website at https://btcdata.ai or follow us on Twitter @btcdata_ai.
-  https://www.fidelitydigitalassets.com/articles/bitcoin-first
-  https://academy.binance.com/en/articles/the-blockchain-trilemma-explained
-  https://ycharts.com/indicators/ethereum\_average\_gas\_price\
-  https://www.investopedia.com/news/sec-chief-says-bitcoin-not-security/
-  https://bitcoinmagazine.com/business/bolt-1-million-tps
-  https://www.cnbc.com/2022/05/23/larry-fink-says-bitcoin-represents-a-whole-new-paradigm-for-investing.html
-  https://bitcoinmagazine.com/culture/bitcoin-decentralization-meaning
-  https://www.cato.org/commentary/why-bitcoin-beats-central-banking
-  https://decrypt.co/resources/what-are-smart-contracts-beginners-guide-to-smart-contracts
-  https://moneyonchain.com/
-  https://rgb.inc/
- Mr. Terry is a technology industry veteran with 29 years of experience in Internet and software solutions for the SME sector. In 2016 he changed focus to distributed technologies and blockchain for business. He is an advocate of financial privacy and Bitcoin. Currently Mr. Terry works full time as co-Founder of BTCdata.ai a data-monetization marketplace.