There are Very Good Reasons to Consider Ethereum Despite being an Avid Bitcoiner

By May 26, 2020DApps
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Bitcoin may be considered the "king of cryptocurrencies", but have you ever stopped to consider other members of the cryptocurrency community? True, Bitcoin was the first member of the to the crypto fraternity, and there is no doubt that Bitcoin trading is actually highly profitable. However, did you know that Ethereum, is also incredibly lucrative? It may be hard to believe, but Ethereum is almost as popular as Bitcoin and trading in yields explosive returns. Currently, ETH tokens are almost as profitable as BTC.

As a trader and an investor, it is prudent to diversify your portfolio, and be open to different types of assets and strategies. So, stop being a loyal Bitcoin fanatic and explore Ethereum's money-making opportunities.

Ethereum supports the largest ecosystem of cryptocurrency projects

Ethereum is not only a cryptocurrency but also a platform based on Blockchain technology. The Ethereum code is Turing-Complete, which implies that the platform can operate any smart contract and can solve most complex computational problems.

The platform has an EVM smart contract (Ethereum Virtual Machine), which uses Ether tokens for transactions and peer-to-peer transactions. The Ethereum wallet contains ether and other crypto-assets, allowing for the creation and use of smart contracts.

The New York Times expressed appreciation for Ethereum, describing it as a “powerful single-shared computer, controlled by a network of users and resources”. Needless to report, but Ethereum's technology is actually more advanced than Bitcoin.

Ethereum is by far the largest ecosystem

It's been four years since Vitalik Buterin started his work on Ethereum and today, its platform and token have the largest ecosystem in the cryptocurrency world. 2020 witnessed the development of many cryptocurrency projects based on Ethereum's technology.

One of these projects is Maker, the foundation of smart contracts operating on the Ethereum Blockchain. Another popular project is the Basic Attention Token project that works through Brave to highlight an open internet-based model based on the Ethereum Blockchain. There are Nexo, Enjin, USD Coin, and OmiseGo. The large ecosystem of Ethereum is evident in the popularity and modernity of the platform.

Ethereum is faster and provides excellent security

Ethereum smart contracts use Blockchain-based applications to negotiate and execute contracts. Advanced Blockchain technology verifies and enforces smart contracts by decentralizing, which is extremely beneficial for preventing fraud or censorship activities.

Blockchain technology verifies Ethereum transactions in seconds, and smart contracts ensure top security. The introduction of Ethereum 2.0 is even more technologically advanced than Ethereum, since it is faster and more scalable, in the sense that it can authenticate more transactions per second.

Ethereum's augur platform

Augur is the world's most unrestricted and accessible betting exchange developed on the Ethereum Blockchain. It is a decentralized market protocol of prediction developed, as the first decentralized application software to operate on Ethereum, by the Foundation Forecast. Augur allows trading in seconds with a very small fee of about 1% and offers betting facilities as well, with no limit or caps on wager amount. On the Ethereum blockchain, Augur is globally accessible.

Ethereum is the leader of dApps

Ethereum technology forms the basis of more than 2775 decentralized applications, including finance, media, gaming, healthcare, and other niches. In particular, Ethereum dominates the dApps market by nearly 84%, which makes it more efficient than Bitcoin.

Conclusion

There are countless reasons to consider Ethereum for trading and investing. It has excellent technology, scalability, security, transparency, and value, making Ethereum and its tokens one of the most popular options among cryptocurrency enthusiasts.

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