Can Ethereum beat Bitcoin as the most popular cryptocurrency on the market?

Can Ethereum beat Bitcoin as the most popular cryptocurrency on the market?

TL;DR Breakdown

• Ethereum network will launch its version 2.0 by the end of the year.
• Ether can be the network that solves many problems on the internet.

Ethereum has gained more popularity globally, mainly due to its smart contracts admission. The cryptocurrency stands out for including the blockchain network that has driven the crypto market by the Dapps and technologies that surround it. These characteristics are outstanding, unlike Bitcoin, which has basic technology.

Bitcoin is “digital gold” and protects money against global inflation. With its reputation for being the first cryptocurrency, this ability makes the decentralized market position itself as king. However, many investors wonder if Bitcoin will ever lose its throne.

While Bitcoin is the pioneer cryptocurrency, Ethereum has a more open scheme of work and a promising future. Blockchain technology is compared to the internet because very few trusted its operation in its early days. The blockchain network can be used by many companies, banks, and the internet itself.

Ethereum cryptocurrency has gained popularity

The cryptocurrency Ethereum aims to become the new protocol for the internet using its Dapps and smart contracts. This implies that you will gain a lot of money, which will be reflected in the changing growth in cryptocurrency. But Bitcoin lacks those functions, so it is very limited in the battle against Ether.

However, both blockchains have been limited by flaws in their scalability and high transaction costs while continuing to grow. The technological cryptocurrency tries to evade these limitations with a new update in its system. By the end of the year, Ether fans can enjoy version 2.0, offering faster transactions.

Updates on Ether

With the Ethereum 2.0 a few months after talks of launch, many investors feel encouraged by this great project. These changes have attracted the eyes of many companies and young cryptocurrency traders. With the more functioning Ether network, people may ditch many cryptocurrencies and focus on new technology.

This Ether system upgrade can benefit where the value of the cryptocurrency skyrockets. Although many crypto enthusiasts think that Ether will exceed the Bitcoin price, speculation does not necessarily equal truth.

If Ether increases in value, so will Bitcoin. BTC is characterized by its volatility and mining, something that ETH has lacked since its inception. Many investors also believe that Bitcoin will hit $100K before the year runs out.

Although the technology network project is good, perhaps it is an exaggeration to surpass Bitcoin. The Bitcoin capitalization has always led to the decentralized market, and it likely will not be removed from the throne. While Ether investors increase, this will also benefit Bitcoin and its price.

Each cryptocurrency has its characteristics, value, and number of fans who trust its plans. ETH may have good targets, this will undoubtedly increase its value, but it is going to take a lot of work to beat Bitcoin.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

Here's What's Next for Bitcoin As It Enters ‘Sweet Spot’ of Supercycle, According to Dan Held

Here’s What’s Next for Bitcoin As It Enters ‘Sweet Spot’ of Supercycle, According to Dan Held

Alipay Denies Binance Fiat-Crypto On-Ramp

Ex PBoC Director Says Digital Yuan will Counter Popular Payments Platforms like Alipay