Bitcoin Has Been Technologically Surpassed by Ethereum by a Shocking Margin
Bitcoin Has Been Technologically Surpassed by Ethereum by a Shocking Margin

By Da_Sound | greenbull | 26 Jul 2019


It’s been a very interesting month for Bitcoin, hasn’t it? Bitcoin showing signs of reaching the same prices as it did in 2017 before being pulled back below $10,000, then back up again, then back below $10,000. Analysts have pushed their forecasts of Bitcoin reaching $20k, $30k, $40k back, now saying that it’s more likely to occur towards the end of 2020. 

And frankly speaking, there are reasons to believe that a new all-time high is likely because of a couple of fundamental reasons: the bitcoin halving will happen next year and the development on the project is going well. However, based on the technical developed alone, Ethereum seems to be really far ahead of Bitcoin. They’re two very different things to compare, but they will definitely be the major tokens even years from now and new development may change the power distribution a bit. 

The biggest technical developments come from the upcoming sharding and casper upgrades, which would make it handle many more transactions and become a viable decentralized finance tool. And speaking of decentralized finance, I see a lot of new services and products being deployed related to this. Ethereum’s move into the traditional finance world has only just begun and I think a real lift-off will arrive with an interest in Ethereum’s role in decentralizing finance. Just look at all the ERC-20 tokens.

With Ethereum, a lot more is possible because of the smart contracts. You can tokenize assets. You can launch stablecoins. You can create DeFi tools that empower individuals. There’s still a lot of work to be done before this reaches a global level, but it is well and truly possible.

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In the US, the SEC has also declared Ethereum to not be a security token, which is a real boost for it (I’m surprised the price hasn’t gone higher). Ethereum also gets mentioned in various reports by existing entities like banks and government bodies. Along with Bitcoin and Ripple, it has made some ground in establishing legitimacy, even if regulators have not defined proper laws yet.

So it’s not to say that Ethereum is better than Bitcoin or anything - they are separate endeavours with separate goals. Bitcoin will still be digital gold while Ethereum will offer more versatility in use cases as it scales its network. BTC will likely be king for a long time, but Ethereum will be something like a king-to-be. 



greenbull
greenbull

The market is only going one way and THAT IS UP!

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