After the continuous spike in the price of bitcoin over the last year, the buzz for the cryptocurrency has extended far beyond the technology enthusiasts. With this growing attention towards bitcoin, other cryptocurrencies especially ethereum is getting into a spotlight.
Ethereum soon to Outrun Bitcoin? Why people consider etherum a potential cryptocurrency?
Created in 2013, ethereum was launched by the Russian Programmer. Where for its first two years of introduction, the price remained the same there in 2017 the price slab for the same exploded reaching to $1,400 in January 2018.
After the drop in its price again to $700, many people still have faith in this cryptocurrency and state that it is one of the most promising cryptocurrency in the market. Assuming to have good potential in future ethereum is on road to surpassing bitcoin one day, stated by many news reports.
As per Hubert Olszewski, director of the business development at Blockhain board of derivatives, there is the possibility that ethereum will overtake the market capitalisation along with the value of bitcoin.
Introduction to bitcoin was in the year 2009 when the world was reeling from the worst financial crisis in decades. This was the time when the crypto-anarchists made use of bitcoin to make the transactions without involving banks in it. This encouraged their vision of revolutionising the global financial system.
Since the introduction of the cryptocurrency, today there are more than 1,500 other cryptocurrencies that have surfaced in the market. Each of the cryptocurrency introduced in the market has something unique to offer. Ethereum also had a different software platform than that of bitcoin that enables the applications like smart contracts to be built and run without the need of third party thus helping in decentralization of the traditional banks. With the technology behind ethereum everyone is now capable of creating their own application.
This is the reason why people are putting their faith in ethereum and why several media houses claim that ethereum is going to soon outrun the bitcoin.
Source – Independent
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