ETHEREUM IS THE BEDROCK OF MANY CRYPTOCURRENCY PROJECTS


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By total market cap, Ethereum is the second-largest cryptocurrency in the world, only behind Bitcoin. Many individuals have stated that Ethereum still wins the prize for popularity and even perhaps might even have a bigger return over time, even though Bitcoin may be more well-known or have a larger market share. My favorite part of this is that while Ethereum is the new kid on the block and is almost like silver in that we see it used more frequently in everyday items or even compare Ethereum to be more like electricity where you have a use case, Bitcoin will always be like gold and a store of value and will be the old school technology.

Some might argue that Ethereum is significantly more popular than Bitcoin because it serves as the backbone of so many crypto projects and the majority of NFTs. This is especially true given that in 2022, there will be over 338% more Ethereum transactions than Bitcoin. It is also currently last year, when there were 408 million Ethereum transactions compared to only 93.1 million Bitcoin transactions. Ethereum's principles and application case have been developing over time. For instance, Ethereum underwent its long-awaited merger, which changed its consensus architecture from proof of work to proof of stake.

One of the main criticisms of cryptocurrencies is that they use excessive amounts of energy, yet Ethereum is on course to reduce its carbon imprint on the planet by being 99.9% energy efficient. Also, it is working to reduce gas surcharges and enhance transaction processing speed and efficiency. The new version of Ethereum promises passive revenue under a structure that prioritizes its stakers over miners, so with these enhancements comes new earning potential for Ethereum owners. Due to its unrivaled network usefulness, Ethereum continues to hold its position as one of the top altcoins. It should be noted that there are a number of well-known tokens that are also referred to as "Ethereum killers" since they want to duplicate Ethereum's functionality but better.

You've probably recognized that the objective is the crucial word here, however it's still up for debate whether or not some of these initiatives really come close to what Ethereum offers. These initiatives want to compete with Ethereum, which automatically elevates Ethereum to the status of a top-tier rival with which other projects are always attempting to keep up. They previously reached an all-time high of $4,867 and are currently priced at roughly $1,500. That indicates that you will currently receive a 67% discount from the prior all-time highs, and if it actually reaches those levels, you will receive returns of more than 200%.

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A lot of crypto projects have been built on Ethereum blockchain efficiently

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