There are two major cryptocurrencies that matter these days. These are Bitcoin and Ethereum. They are currently responsible for more than 70% of the market capitalization and there is no indication that this trend will change anytime soon. An interesting fact is that Ethereum’s percentage growth has been much higher than Bitcoin’s in recent times, and there are many indications that this is the cryptocurrency that will become more popular and may contribute to more transactions over time. What are the predictions for the next few years and why is Ether so popular?
The advantage of Ethereum
First of all, it is necessary to start with the first and most important issue for users. This is the advantage in terms of transferring transactions. Due to the size of the network, Bitcoin is currently experiencing real moments of horror regarding this situation.
Due to the fact that the waiting time for Bitcoin to be sent to another user is very long, more and more people are starting to use other cryptocurrencies, primarily benefiting Ethereum with its smart contracts. At the same time, the fee for completing a transaction using bitcoin is much higher than with Ether.
Another milestone in the race between the two technologies is the structure of the blockchain itself. Thanks to the solutions used in the Ethereum network, it is not only possible to send cryptocurrencies, but also to make contracts.
This makes it safe for companies and corporations to use this network to ensure that a given transaction is carried out in accordance with the contract. At the same time, all activities are public and legal, so there is no risk of fraud or violation of rules.
In short, although the value of the Ether cryptocurrency itself is still much lower than Bitcoin, the technology itself has a very big advantage, which is a more modern blockchain structure. In addition, it is a network that is constantly evolving and in the near future, there may be a real cryptocurrency revolution in the form of Ethereum 2.0. What are the experts’ predictions?
Will Bitcoin be dethroned?
In the near future, all mining software may once again become red-hot with the arrival of Ethereum 2.0. This is the second iteration of the network, which is expected to solve the biggest problems currently faced by this technology.
First and foremost, its scalability is set to increase significantly, allowing for more transactions per second. In this way, the development of blockchain will be much faster, which may prove to be the most important action in terms of overtaking Bitcoin technology.
At the same time, the implementation of this solution will make all transactions between users much faster, cheaper, and use less energy. Thanks to this, there is still a growing interest in mining os designed for Ethereum, as undoubtedly this solution can completely lead to the domination of Ethereum over Bitcoin. The time will tell the truth, however, the mood is very optimistic among the developers who work on making the Ether more competitive.
In conclusion, the rivalry between the two largest cryptocurrencies may lead to a new, even better technology that will become the missing piece of the puzzle of the financial world. For this reason, all the moves of the biggest players should be closely watched, but there are many indications that Ethereum 2.0 may turn out to be an attempt to jump on the so far unquestioned leading position held by Bitcoin.
For this reason, it is worth considering whether now is the right time to invest in cryptocurrency or start mining it. Looking for mining OS for Ethereum? Check Simplemining.net.