As the discussion of whether Ethereum (ETH) will replace Bitcoin (BTC) as the leading cryptocurrency becomes hot part of the daily cryptocurrency conversation, we need to ask a question, what the difference between Ethereum and Bitcoin imply for the future application of blockchain and encryption?
Bitcoin and Ethereum
Since blockchain and cryptocurrency have actually become part of the financial market, Bitcoin has always been the market leader, the initiator of dialogue, and the dominant force measured by any standard.
Given that the market value of Bitcoin has exceeded $1 trillion, well-known companies such as Tesla have also made major acquisitions, and major payment applications have also begun to support Bitcoin payments, so is it reasonable to conclude that Bitcoin's dominance is almost certain.
However, on the other hand, the valuation of Ethereum and the applications developed based on the Ethereum blockchain are rising rapidly. If you put aside the attention to prices that attract market analysts and participants every day, Ethereum and the Ethereum blockchain are indeed the protagonists in the second half of 2020 and 2021.
In addition to the current price increase of the Ethereum token, many blockchain applications that have attracted the attention of the mass market have been developed and run on the Ethereum blockchain.
Although Bitcoin has been leading the wider attention, there is a phenomenon that can be proved, in terms of applications and use cases, Ethereum will lead the next stage of blockchain development. In other words, in the financial market dialogue, it seems that for the first time there will be open competition to determine which protocols and cryptocurrencies will lead the industry forward. Let us analyze some basic factors that the market needs to evaluate in the future.
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