Bitcoin was the first cryptocurrency using blockchain technology to ever be created. Each following cryptocurrency has taken ideas and systems from what Bitcoin is and paved their own unique path by doing something different.
So why is it that if Bitcoin is the oldest and first implementation of this tech, that it hasn't lost dominance compared to the newer ones with supposed "better" features and systems?
Simply put, Bitcoin is the most battle-hardened and widely tested crypto in existence which gives it a unique position among the others. The development pace is also very slow and conservative which ensures the stability of the network.
It is possible that what most people see in Bitcoin is an escape from traditional financial systems, and given it's focus on stability and fixed supply cap, this may allow bitcoin to maintain it's dominance.
Bitcoin is also software and software can be upgraded. This means there is no reason that any other coin that has a unique perk to it but otherwise is very similar to bitcoin won't be shadowed by Bitcoin once it's upgraded.
Comment and add why you think bitcoin is has maintained it's dominance in the crypto market.
Congratulations @edward-cafarella! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!