“[Bitcoin and Ethereum} effectively are platforms that enable a lot to happen. But Bitcoin right now has really evolved to be primarily a store of value and it’s very difficult to use it for anything else. If you want, it’s become digital gold.
You can use it as a platform that enables other things, but it requires a whole lot more, right. It requires wrapping or doing a variety of other things and it acts more as collateral than anything else in order for it to gain additional utility.
Whereas Ethereum, you know there’s just a lot more built-in utility in its organic and native form, right. Just the ability to use smart contracts organically and natively is just a significant difference right now. That’s not to say there aren’t Layer-2s on Bitcoin that, you know, create new value and create new opportunities. But you really have to work a lot harder on Bitcoin than you do on Ethereum.”
The Shark Tank star highlights that Ethereum’s features allow the platform and asset to power a majority of the booming non-fungible token (NFT) sector, which is edging toward mass adoption as demand for the unique digital assets grows and chart-topping musicians enter the market such as The Weeknd and Tekashi 6ix9ine.
“Because people are using ETH to buy NFTs, to do more things, and because smart contracts just make it a little bit simpler to do development, and because we’re looking at hopefully a shorter-term evolution to ETH2…
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Wlad74