Beside bright cryptocurrencies like Dogecoin, DASH etc., Bitcoin and Ethereum are two cryptocurrencies that each have unique features. The “next web” website has mentioned in a report the reasons why Ethereum is superior to Bitcoin. The main difference is that Ethereum is not just a cryptocurrency like Chainlink value prediction . This blockchain platform has many advantages and applications. Ethereum can create smart contracts that can help make communications and devices as bright as possible. Intelligent processes by using smart contracts can be implemented with decentralized blockchain technology. For example, it is not unlikely that we will see driverless cars in the city using smart contracts in the coming years.
Bitcoin or Ethereum?
In cryptocurrency exchanges, the trading of cryptocurrencies is expanding day by day, and the hot crypto market has caused the pervasive world of cryptocurrencies. Meanwhile, people are skeptical about Bitcoin and Ethereum and do not know which of these cryptocurrencies is superior. Although both ecosystems try to do things uniquely, some of their characteristics can undoubtedly be considered criteria for buying and selling decisions.
Technology battle between Bitcoin or Ethereum
Many people think that bitcoin cryptocurrency is better than other monetary systems that have explicit or digital assets. Bitcoin is one of the first major cryptocurrencies to be eight years old.
Ethereum is a new cryptocurrency platform launched a few years ago and offers some exciting technology facts compared to Bitcoin. The platform is based on smart contracts, which is a very new revolutionary technology; Of course, part of Ethereum’s cryptocurrency technology is inspired by the Bitcoin platform.
Ethereum cryptocurrency is technologically very accurate and intelligent; However, Bitcoin is not as good as Ethereum and has a significant shortage of centralized applications and collections, making Ethereum better than Bitcoin. That’s why the technology used in Ethereum has made much noise. The Ethereum project launched in 2015, and its name refers to the Ether technology on which this cryptocurrency runs.
Like Bitcoin, it allows anonymous and unfindable financial transactions in a decentralized general ledger system called a blockchain; A blockchain is a ledger that reveals all transactions and records them sequentially. This process is done without the intervention of third-party companies or banks and operates entirely independently of the Federal Reserve banking system; This way, users do not have to pay extra heavy fees when transferring money, especially in large amounts.
Number of coins
Because Ethereum is a relatively new platform in cryptocurrencies, it has many more coins available. Bitcoin has done very poorly in this area compared to Ethereum. Bitcoin is a well-known and old cryptocurrency, but it has nearly 21 million coins. Etherscan Analytics has reported that about 5.5 million Ethereum accounts contain more than 93 million others.
Many web hosting companies and independent online businesses accept ether payments. Ether can even be used in cryptocurrency wallets and credit cards. People tend to ignore the fact that the number of coins and the source of coin storage is not a challenging issue. Ethereum is the only cryptocurrency with no limit on the number of coins and their source of storage. Although some believe that Bitcoin is better in this area, the availability and supply of coins in Ethereum are higher, which has an impact on the number And has no source of Ethereum coins.
Ethereum has the most significant impact on capital attraction.
One of the simplest uses of the Ethereum smart contract system is to generate a simple token that can transfer to the Ethereum Blockchain network instead of Ether. On the other hand, the smart contract is a type of contract based on the ERC20 standard. In this way, Ethereum Cryptocurrency is used to host a wide range of ICOs or Initial Coin Offering, which can be said with confidence that Ethereum has implemented its “magic plan” in the form of a mass investment platform. Raise funds.
The most famous example is the use of smart contract potential in DAO (Independent Decentralized Management). The distribution company has Ether power worth $ 100 million. In return, investors receive Ether tokens, each with its price. Holders of these tokens can also take action to legalize their activities.
However, it should be noted that this is possible by hacking the program and destroying the DAO. The idea of raising funds to launch a project through the Ethereum token has become a roadmap for new generation projects and very successful in raising funds to open a project. If you have a background in this, you know that investing in tokens is easy through Ethereum. The procedure is that you send the ETH, and you have the contract in your wallet (Digi Currency e-wallet), and that’s it. The token appears in your account, and then you transfer it wherever you want.
A large number of ICOs are created every month that use new and innovative methods to communicate between this program and the token to add new capabilities to these tokens through smart contracts. The potential for this is enormous. Any person or organization by the ICO can market their related tokens, which are freely tradable, to raise capital to fully understand the concept of stocks and securities in financial systems soon. Reconstruct and transform.
Speculation about the future of Bitcoin and Ethereum
Bitcoin and Ethereum are both valuable cryptocurrencies. They have both achieved significant value over the past year. Comparing Bitcoin with Ethereum Live Chart shows that the profit percentage in Bitcoin is lower than Ethereum. Although bitcoins were made before Ethereum, and its value has steadily increased over the past two years, Ethereum’s cryptocurrency has only seen a rise in value in a few years. The value of this cryptocurrency is increasing day by day, and its buying and selling markets have made significant progress in the last few years. The value of Ethereum has risen significantly over the past year.
The price of Ethereum cryptocurrency is related to the price of bitcoin coins. They are interdependent, and when the price of Bitcoin rises, Ethereum falls. When the value of Bitcoin decreases, the value of Ethereum automatically increases or can show a small profit. Hence, these values are usually interrelated, and since Bitcoin is the leading platform for numbers, it is more stable than other cryptocurrencies, especially Ethereum. Of course, Ethereum Cryptocurrency is still trying to establish itself because this is a very new platform. Just as other cryptocurrencies react to Bitcoin and its economic reactions, the Ethereum cryptocurrency depends on the buying and selling Bitcoin coins and related actions.
Although Bitcoin and Ethereum are not much different, Ethereum cryptocurrency is slowly gaining momentum. In any case, each of these currencies has extraordinary and unique features, but according to the explanations, it is better to choose a senior cryptocurrency in the world of crypto.
In summary, the Ethereum currently has a better future than Bitcoin for the following reasons:
- Ethereum is a new cryptographic software platform that runs on updated technology. (Due to its young and energetic team, it can develop faster)
- More coins available (although this can be a disadvantage in itself)
- The value of Ethereum cryptocurrency coins is increasing faster.
Moreover, to better understand the cryptocurrency market and institutionalize Ethereum’s superiority over Bitcoin or vice versa, we suggest that you also read cryptocurrency vs forex article.