Is Ethereum Moving Ahead Of Bitcoin?
Cryptocurrencies trading is a global phenomenon and it is the recent headlines everywhere. The increasing interests of people towards the digital currencies are gradually leading to the new financial revolution. The massive increase in the value of Bitcoin has already put it on high last year. The sudden growth in the market capitalization of Bitcoin boosted the possession of other similar cryptos. Ethereum is one such promising digital asset whose growth has been aggressive in the recent past, putting it the second most populous virtual currency in the world.
What makes the experts and the traders forecast the fate of there with respect to the bitcoin?
Of course, the statistics! The contribution of ethereum in global crypto trading has increased multifold when compared to that of bitcoin in its earlier years. Also, when we have observed the recent market trend we can notice the unexpected drop in the value of bitcoin and the consistent performance of ethereum.
Well, both the currencies adopts blockchain technology for transactions. The major difference is that bitcoin is transferred and received peer to peer. It is straightforward and simple. Whereas ethereum uses smart contracts which helps in establishing decentralized applications. The ethereum platform comprises more than 50000 nodes, which is just 10000 in bitcoin. Yet bitcoin mining is complex and this attributes for the higher market value, putting it ahead of ethereum.
Support from Tech giants:
Numerous industrial giants like JP Morgan Chase, Intel and Microsoft have belief in ethereum and they strongly insist that rather than transfer, there is more that could be done with ethereum platform. This serves as a major motivation to the ethereum investors.
Same as the bitcoin, various user-friendly bots have been developed for ethereum trading too. Ethereum Code is one such legal, reliable software designed exclusively to assist in ethereum trading.
So, as we can see both the cryptocurrencies are unique and have a lot of popularity among investors. The success of bitcoins led to the emergence of a lot of other cryptocurrencies. But they got carried away by the storm created by bitcoin. Only the ethereum stood strong with its deeper roots. It is unfair to say which is the best. Both have contributed to the cryptocurrency trading to a larger extent. And both have their own pros and cons. The one which overcomes the drawbacks and caters to the needs of the customers will stay longer and stronger.