It’s been an exciting January…
On the one hand, we see some coins hit all-time new highs, making strides and leaps compared to the years before.
But, then we saw FUD come out of China, South Korea and the like.
Driving the price of Bitcoin down and down again.
Although, it seems Ethereum is starting to come back and make a bit of a transcendent rise amongst these steep corrections.
Will Ethereum Overpass Bitcoin?
One theory and hope by many is that Ethereum will eventually overtake Bitcoin.
While Bitcoin’s main protocol is one that is remarkable and a godsend for its time, it is outdated in many ways.
The lightning protocol and a few other updates could save the speed and quick exchange (as well as the segwit implementation by wallets and exchanges).
One thing is sure, Ethereum is a leading contender for the long-term when it comes to cryptocurrency.
And that’s why many people can see Ether becoming one of the largest cryptocurrency.
Let’s first talk about the specs:
- There is about 98 Million ETH (about 4.5 times as much as Bitcoin)
- ETH is used to fuel transactions for all ETH Dapps
- Ethereum is faster than BTC but still slow
Granted, these are just a few of the points for Ethereum becoming the top cryptocurrency, market capitalization wise.
But again it needs to scale more than it has for mass adoption to take place, which may come through Raiden, Sharding, or proof-of-stake.
The EEA is made up of over 80 different companies such as JP Morgan, Intel, BP and many others.
And with this recent purchase of land for, not mining, but for showcasing Dapp application development and continuing use of Ethereum.
Which is exciting, and we see it reflected in the price.
Bitcoin has dropped below $10,000, Ethereum has held ground around $1000 and moved up to $1100.
Thanks for reading,
The GCA Team