To some people, Bitcoin is an experiment that can end in one of two ways: it will either fulfill its promise to become the “Internet of Money” or it will die a fiery death at the hands of regulators.
Image: Coin Telegraph
But what about a third option, in which a rival like Ethereum overtakes Bitcoin?
The rise and rise of Ether
Ether, the native coin of Ethereum, has risen more than 5,000 percent in 2017. It peaked at $396.40. Investors first attributed the surge in the Ethereum price to its faster platform, which processes transactions more quickly than Bitcoin’s. But it turns out that transaction times are just the tip of the iceberg.
Smart contracts, initial coin offerings (ICOs), variable block sizes - the evidence is overwhelmingly in Ethereum’s corner, regardless of what you might hear from so-called purists within the Bitcoin community. Even major institutions are siding with Ethereum. For instance, the Central Bank of Russia is currently testing an Ethereum fork for its own monetary system. This will effectively create the world’s first national cryptocurrency, a service that Bitcoin is incapable of providing.
Some in the community argue this unchangeability is precisely what protects Bitcoin price. To them, Blockchain technology only exists in service to Bitcoin to the singular vision of a decentralized currency.
Thank you for this very fair analysis. I will follow you because you have a good vision of the crypto. Good job
For me, cryptocoins are more than money... They're the clearest way to free the human being from the financial tyranny imposed by states and banks. I will encourage their adoption for economic, ideological and moral reasons.