Ethereum's Future Is Much Brighter Than Bitcoin | Let's Find Out Why !!
Well, every person has thing for Success whether in personal, professional or investing space. With the advent of Blockchain technology, cryptocurrencies came into existence and they changed our views regarding existing technology by introducing more advanced and efficient technology with no extra-cost rather even at more economical rates.
Cryptocurrencies also acted as a versatile mode of Investment as well as most volatile one. Some people made their fortunes out of investment in cryptocurrencies. Whenever we talk about cryptocurrency, the first crypto comes into our mind is Bitcoin.
Bitcoin is currently the biggest and oldest cryptocurrency in crypto space. It would not be wrong if I say that crypto space came into existence with the inception of Bitcoin itself. Majority of people, including Institutional investors have already invested a great deal of money into Bitcoin and saw it multiplying over the years. But success of Bitcoin didn't come without some setbacks. It faced huge setbacks and many times dumped with significant percentage, still come up with more enthusiasm than ever.
Bitcoin initially introduced as a medium of exchange but as the time passes, people used it as a store of value and that's why Bitcoin price touched the sky in December 2017.
Now, let's take a look at Ethereum
Ethereum is a Blockchain based on smart contracts. Since its inception, this cryptocurrency achieved wonders in recent times. Most of the existing cryptocurrencies in crypto space have build upon Ethereum itself. Being an infrastructure based crypto, Ethereum currently holds the second position after Bitcoin in crypto space in terms of Market capitalisation.
But it doesn't mean that it has less potential than Ethereum. Although, I personally believe that Ethereum's future will be brighter than Bitcoin itself. Let's see How:
Currently Bitcoin Blockchain network is dealing with 230000 transactions which are charging a total fees of 37 Bitcoin which is roughly equal to $340000 (as per current BTC price). While if we look at Ethereum Blockchain, then it is reaching 8,00,000 transactions charging approximately 515 ETH, equals to $3,75,000 much higher than Bitcoin.
Bitcoin is undoubtedly the most popular, oldest and also the biggest cryptocurrency in crypto space but if we look at the utilities, Bitcoin has not much while Ethereum has tons of utilities in outside world, for instance Ethereum are being used as a base for various crypto projects like Zilliqa, EOS, Vechain, Bluezelle, etc.
The Reddit co-founder, Alexis Ohanian, said in an interview:
“I’m most bullish about Ethereum simply because people are actually building on it.”
He believes that Ethereum has much to give to the outside world than Bitcoin. Simply putting aside its infrastructure based utility, Ethereum is much faster and cheaper than Bitcoin in terms of transactions. This feature alone makes it superior than Bitcoin itself.
In recent years, we can see a shift of market capitalisation from Bitcoin to Ethereum because of Ethereum's constant upgrading and wide spread use within the crypto space.
Thanks for reading ...!!
Even though I agree with your points. We can not evaluate both projects just from the cost and technical perspective. We have to take into consideration mass acceptation; individual and institutional, and newcomming projects/altcoins.
If we compare crypto with the real world. Gold would be out of the way in terms of a store of value. You can not use gold as a practical medium of exchange today but still, its value has experienced a nice increase in latest years.
On top of that, big hungry competitors like EOS will soon jump into the scene and that will completely change the scenario we have today, specially considering EOS will have 10% of Ethereum (its main competitor) ownership from its huge year long ICO.
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