XRP will overtake Ethereum in 2019?
On the last day of 2019 the Ethereum (ETH) managed to survive the attack that came very close to shutting down its entire network.
Liam Aharon, blockchain developer from Australia, said the attack took advantage of the software failure in a widely used Ethereum client.
"The attack is simple: you send to a Parity node a block with invalid transactions, but a valid header (borrowed from another block). The node will mark the block header as invalid and ban that header forever, but the header is still valid," said security consultant Sergio Demian.
Aharon said the attack failed because of client Geth who is immune to that particular attack. If ETH did not have this client, the attack would have brought serious problems to the crypto.
The attack was apparently something Ethereum was able to beat very easily. However, this year the XRP may bring more difficulty to altcoin. XRP has successfully outperformed ETH in overall transaction value.
Ethereum, which usually has a daily lead over the XRP in number of transactions, saw this unexpected change in early 2020.
Normalcy hovered in the crypto market on the first day of the year. ETH recorded over $80.4 million in transaction value. The XRP achieved only $20.34 million. However, the scenario changed when the XRP reached a number of US$214.34 million in transaction value.
In addition to surpassing its own record, it managed to beat the main altcoin in the market. On the same day Ethereum achieved only US$137.26 million.
This can be a unique event. But it's still too early to be sure.
The stakes for Ethereum to shine in 2020 are high. The popularity of DeFi (decentralized finance) can be a major cause of ETH's prominence. That's because the growth of DeFi applications has focused on the blockchain of altcoin.
Dapp.com revealed that more than 75% of DeFi applications are active in Ethereum. While EOS comes in second place with only 11% of the applications.
Throughout 2019, DeFi applications have been able to outperform those in games and betting, in numbers of users, during several points of the year.
As reported by the "Guia do Bitcoin", Ian Balina, a fluent blockchain and ICO specialist and CEO of Token Metrics, believes that Ethereum can outperform Bitcoin in market value in the years 2020.
"Forecast: Ethereum exceeds Bitcoin in market value in the years 2020. This is inevitable. Sorry about the BTC $ maximalists. $ ETH wins in the end."
Read in Portuguese here in the Guia do Bitcoin (https://guiadobitcoin.com.br/noticias/xrp-ultrapassara-o-ethereum-em-2019/)