The future of ethereum.

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Hello guys, I am Dangerous_Fly and I am going to rock read.cash by bringing you a very important article titled,"the future of ethereum". As many may know, ethereum is a form of cryptocurrency which I can proudly say when it comes to value it is second .

Now before we take a look at our main topic let's talk a bit about ethereum and bitcoins. Bitcoin is currently known as the "King" when it comes to crypto.

This is mine plan of works and I wish to get you all involved in this.

I will give you explanation of these two currencies and you comment the future of it yourself per how you see it

Let's get started.

This is a brief summary about bitcoins,

On 31 October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. Nakamoto implemented the bitcoin software as open-source code and released it in January 2009.

As at this time bitcoin costs not much but as years passed by and currently it has been seen to rise up to $8000 .

Now talking about ethereum

Ethereum is also an open-source code and it was released on July 30,2015.

It is currently second in value as it's value it above $200 now.

It is currently open to all and it is being mined .

Now the question is Bitcoin has reached $8000 after 10-11 years, can ethereum which is currently between $200 and $300 be able to overcome bitcoin price and become the leading crypto currency??

Drop your comments in the comment Box and I will be happy if you include suggestions on my next project also.Note: I just started and I can't be that perfect.

For us to decide the future of this let's take these few principles

  • The more a used currency becomes scarce it's price increase.

  • The more people use it, the more it's price increases .

  • Transaction fees.

  • People keeping the currency.

  • And others

Now let's take these points and discuss them

The more a used currency becomes scarce it's price increases

Let's relate this to our homes, when a food commodity or house equipment becomes scarce in the market it's price also increases because it is scarce. This also implies to crypto currency.

The more people use the commodity the more it's price increases.

Let's relate this one too, assuming a commodity sells best in the market the more people buy the producer also increases the price of the commodity because he/she knows that it is in demand. Same occurs in cryptocurrency.

Transaction fees

Sometimes the fees associated with somethings make people run from it. Say you got $800 in your account and after withdrawal and everything it is left with $500. And also this same $800 can be withdrawn at a certain place and after everything you keep $700.Where do you think the money will.be kept.

People keeping the currency

As said earlier the more people use the currency it's price also increases. So keeping the currency makes the price increases a bit .

Update : Advantages of both cryptocurrencies over the other

Let's take advantages of Ethereum.

  • Economics

Ethereum runs off a slightly different economic model compared to Bitcoin. For example, Bitcoin block rewards halve every 4 years while Ethereum releases the same amount of Ether each year continuously. This allows for continued progression on the Ethereum network compared to Bitcoin. Also, Bitcoin was mass released with early miners owning the majority of the coins that will be mined. Ethereum was crowd funded and as a result, 50% of the Ethereum coins will be owned by miners in year five.

  • Block times

Ethereum has shorter block times, which makes the platform more efficient. Ethereum allows for blocks, or the records of cryptocurrency transactions, to be created more quickly than Bitcoin. This efficiency leads to quicker transactions, and allows Ethereum to process the large number of transactions that take place across its network. In Ethereum the block time is set around 15 seconds and the network betters Bitcoin’s 10-minute transaction speed through the smart handling of stale blocks by using the Ghost protocol.

Now let's get it on to advantages of Bitcoin.

  • As a store of value

The most successful cryptocurrency for storing value continues to be bitcoin. As the most valuable coin in the world by quite some margin — and the progenitor of the entire cryptocurrency revolution — bitcoin has proven itself. It’s far more recognized than any of its peers, and that makes it easier to buy, store, and sell.

I think the points raised above will give you a clear cut difference and good explanation to choose your choice.

To conclude I will strongly say we should take the points relate it to the two cryptocurrencies I made mention of , analyse and drop your comments on it whether Ethereum can pass Bitcoins in value.

If yes, maybe a possible prediction

If no, a reason why

Meet you in the comment section.

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Don't forget to sponser ,upvote,leave a comment and send me a thumbs up to encourage me to write more if you liked this article.

Thanks for reading

Dangerous_Fly(donrixy@gmail.com)

Catch me in the next post.

https://read.cash/@Dangerous_Fly/introducing-myself-d6d8452a

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Comments

I also think that etherium is a pretty good project and I think it is also gonna reach the moon in coming days. Btw nice article bro.

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3 years ago

Thanks

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3 years ago

Yep Jul 2020 is moon time, but will be boosted to higher level by the Bitcoin having in 12 days. Exciting times to be in crypto again. Major technology developments mean news the markets can price in. And speculate on!

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3 years ago

Nice one man

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3 years ago

Thanks for the review

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3 years ago

I can agree with you ! So when you decide to enter the crypto market just make sure you know exactly

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3 years ago

I think am supporting what @olad said. With way Bitcoin cash is growing both ethereum and bitcoin will soon bow down. Great work

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3 years ago

Yes I have really followed it and I see that.

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3 years ago

ethereum is very powerful crypto currency it was easy to craft for every new projects.ethereum is developing 2.0

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3 years ago

Yh I really know about that one

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3 years ago

Hi. Nice to see you on read.cash. Ethereum is indeed a very good network with a great future. Unfortunately, you haven't mentioned the real advantages of Ethereum. That's too bad.

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3 years ago

Thanks for that I will add it up . I really appreciate it

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3 years ago

Good work! Ether is the real coin name, while Ethereum is the blockchain technology upon which Ether is built and based. People often misuse the two terms. Now to your question. From the look of things, Ether cannot replace Bitcoin in the nearest future. "Ether is just the 2nd cryptocurrency in term of market capitalisation", not popularity or in term of problem solving. Ether has not solved the problems Bitcoin has failed to solve. Moreso, the market capitalisation was buoyed by the ERC-20 tokens not by Ether per se. The only cryptocurrency that has a very good potential to replace Bitcoin is Bitcoin Cash(BCH). It has solved the problems unable to be solved by Bitcoin.....and still solving them. It is gaining more adoptions from well-known people in the world of cryptocurrency regularly.

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3 years ago

Wow that was nice thanks And we hope to seeing Bitcoin cash boost.

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3 years ago

I think some day pi network would also over take ethereum and even bitcoin. But its not 100% guarented. Just speaking.

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3 years ago

Pi network, it is also pretty good but I don't think it can overcome Bitcoin in the near future

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3 years ago

I think Ethereum 2.0 in July is very important. The ecosystem is impressive but fees and transaction reliability, as well as speed need to be fixed for wider adoption. And help the crypto users now. Chrome browser extensions are awesome.

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3 years ago

Yhs these should also be considered pretty much.

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3 years ago

So informative sir, I learned more about ethereum and bitcoin. Thank you and hoping for your more articles to read.

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3 years ago

I also used ETH but not recently, Maybe i'll reconsider now haha

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3 years ago

I don't used ethereum ever since because I don't understand the it's process especially in withdraw or transfer to other ethereum wallet.

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3 years ago

i already heard about ETH. its become famous here in Philippines because of Forsage.

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User's avatar Yen
3 years ago

I got to surprise knowing about the value of Ethereum.

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3 years ago

Not so surprised about the rise in value now. It wasn't that long since i came to know about crypto

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3 years ago

It's really amazing. I can know many thing from it.

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3 years ago