Cryptocurrency Competition – Bitcoin vs. Ethereum
Cryptocurrency Competition Change the Way People Spend
Cryptocurrency Competition makes it so exciting for people to use and it does change the way people spend, the same way internet change the way people live. Only internet doesn’t have competition to make it as exciting.
With cryptocurrency competition, everything comes faster and easier. Cryptocurrency doesn’t only make exchanging of goods and services faster but it is also safer. This is the main reason why more and more people are choosing to spend in the coded cash more than in dollars.
Since Cryptocurrency is becoming a household name, it continues on expanding. Now, aside from Bitcoin, there are tons of other cryptocurrencies, one of them called Ethereum. This new Cryptocurrency competition is starting to gain traction. Bitcoin has a lot of competitors that comes along the way. In fact, the record showed by Map of Coins in August, 2015 that there were 740 total cryptocurrencies that are available online for trade at this time. 8 months later, we are certainly over 800.
The cryptocurrency competition gets more challenging since then. The competition arises due to the fact that people are looking into it as a digital currency and use it in their day to day transactions. Cryptocurrency decentralization has something to do with people wanting to spend more using digital currency than their local money.
Cryptocurrency Competition : Bitcoin vs Ethereum
Ethereum which has been launched in 2014 has become the rising star this 2016. Its value already rises up to 1,000%. The primary reason why people are looking for more cryptocurrency competition is because bitcoin is slowing down in a certain way. Bitcoin fans will not agree but this is another discussion LOL!
Cryptocurrency Competition : Bitcoin and Ethereum Similarity
- Bitcoin and Ethereum are both built in blockchain.
- Both have faster money transaction.
Cryptocurrency Competition : Ethereum Edge over Bitcoin
- Ethereum provides a built-in fully fledged blockchain with Turing-complete programming language which was used to build “smart contracts”.
- It is more accessible and user-friendly.
- We know its creator therefore, we know who is accountable and his presence is accessible unlike Satoshi Nakamoto which never been interviewed.
- It provides an incentive for entrepreneurs for a Kickstarter/crowdfunding platform.
Though Ethereum is quite new in the circle of cryptocurrency competition, it is ready for take-off. Bitcoin enthusiast believes that this new Cryptocurrency will encounter security problem because of its complexity.
Last February, Ethereum latest version has been released. All of the team members show excitement in their faces.
There are many emerging cryptocurrencies nowadays and several of them aside from Ethereum show a bright future. However, Bitcoin remains strong whatever cryptocurrency competition it may face. Everything is still “remain to be seen”. No one can tell what future holds for Ethereum and other cryptocurrency but one thing is for sure, people spending will never be the same again. Whatever Cryptocurrency arises, people will start turning into it because Cryptocurrency is the future of money. It is now about the fiat currencies but it is more about cryptocurrency competition.
People will all use Cryptocurrency whatever kind it is. But there is no easy road to greatness. Bitcoin and other Cryptocurrency will penetrate the market slowly but surely. Only the government and the banks are against to it but it is well-favored by the people. Banks and the government are now thinking of ways on how they can adopt Cryptocurrency if they can’t stop it. More and more cryptocurrencies will be developed and we should expect an extreme cryptocurrency competition.