The actual crypto leader
Bitcoin has been on the top of all other crypto currencies as it is the first crypto to be created in the history of crypto currencies. Its value is around $54000 at the time of writing this article, which is 16 times more high than the actual Ethereum value. It very clear that Bitcoin stills the leader of all crypto currencies on the market today. The big question is: " will Bitcoin keep its first place in the crypto world or is there any other crypto which will overtake Bitcoin? "
The answer to this question is what this article is about, to find out if the actual second crypto on the market Ethereum will overtake Bitcoin in the future.
Major differences between Bitcoin and Ethereum
In reality, both Bitcoin and Ethereum are not the same thing apart of being all crypto currencies.
Bitcoin's application has no technical limitations. Even though it settles in a different manner than normal currencies such as dollars, euro or pounds, it ultimately accomplishes the same thing. It empowers us to do activities, but it does not engage in any action of its own.
On the other side Ethereum is a computing platform which includes blockchain network. Anyone can use its huge computing network to build a decentralized application. The Ethereum crypto " Ether" is the product of the Ethereum platform which makes a big different with its competitor Bitcoin. And, for the future, this is everything that Ether needs in order to overtake Bitcoin.
The Ethereum booming
Recently, the performance of Ethereum was not left behind when its price starts booming from $2100 on April 23rd, 2021 to around $3400 on May 5th, 2021. The value has grown up more than 30% in just ten days and for the past 12 months, the Ethereum value has skyrocketed to more than 1300%.
In order to explain this kind of booming, specialists have approach the history of this two cryptos with the history of Netscape and Microsoft back in time where internet started to emerge. Here the bitcoin is compared to Netscape which was very famous at the beginning of internet by being a default web browser without thinking about the evolution of internet. This is where Microsoft, compared to Ethereum, defined the future of internet by taking over Netscape until now.
As Ethereum blockchain allows developers to build applications which can belong to the Decentralized Finance (DeFi), this gives more points to Ethereum in advance to Bitcoin because the future belongs to the DeFi as it helps users to bypass the ancient banking system. From this point of view, it is very clear that Ethereum will overtake Bitcoin in the future.
Bitcoin strongest point to never look down
Bitcoin failure point, of being a simple payment method only, is Bitcoin strongest point as Bitcoin lets anyone to simply hold and use it for transactions. In addition, due to its simplicity, Bitcoin remains the most used crypto in many developing countries and Bitcoin stills the first choice for most billionaires who have invested in crypto.
This article is for educational purpose only, DON'T take it as a financial advisory. Before making decision for your investment, please make sure to conduct your own research.