Will Ethereum Overtake Bitcoin?

Question

Both Bitcoins and Ethereums are showing a growing trend in the market, with special features in each currencies, it is really confusing to understand, whether Ethereum will overtake Bitcoin?

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Charlie Evans 3 months 1 Answer 28 views 0

Answer ( 1 )

  1. There is no doubt that for now, Bitcoin remains ahead of Ethereum, but with its recent drop in value, many have started questioning its supremacy. But Ethereum won’t overtake Bitcoin for now!

    Moreover, Bitcoin and Ethereum are quite different.

    Technically, there are no limits to the use of Bitcoin. While it settles in a way different to dollars or pounds, it essentially does the same thing – which isn’t much when you think about it. Regardless, Bitcoin is abundant. It has become mainstream, can be used as a means of payment in a number of different arenas and is part of common parlance.

    Ethereum is a computing platform which provides scripting language for smart contracts. This means that there is a blockchain upon which a number of contracts can be written and automatically executed should a set series of events occur. As with most blockchains, Ethereum is open source, which means that anyone minded to do so can use it to write and implement smart contracts, which are simply a series of promises in digital form.

    Ether is the unit of value deployed on the Ethereum blockchain, and consequently it shares certain characteristics with Bitcoin. It is a potential store of value and is fungible between persons who perceive it to have a value.

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