Cryptocurrency market statistics. Photograph of computer screen.
When it comes to the world of cryptocurrencies, Ethereum is not far behind Bitcoin. In fact, this decentralised system offers a number of different properties and advantages when you buy Ethereum compared to Bitcoin. With its implementation across several businesses Ethereum is set to continue to grow and so now is the perfect time to invest. Despite this, many are still uncertain whether Ethereum is really better than Bitcoin and if its offerings outweigh that of the cryptocurrency making headlines. Here, we’re taking a look at the basics of Ethereum and ETH.
Differences Between Ethereum & Bitcoin
Even though Ethereum (ETH) and Bitcoin (BTC) are similar in terms of their cryptocurrency classification, they are two completely different projects. Despite what many believe, Ethereum goes far beyond the use of Bitcoin, as the latter is not an entirely stable cryptocurrency. Compared to Bitcoin, Ethereum offers its users a multipurpose platform and several smart contract applications. When it comes to the similarities between Ethereum and Bitcoin, the supply of Bitcoin is capped, whereas Ether may be infinite. Regardless, Ether offers far quicker confirmations and transactions, which is highly appealing to those who use it.
What Can Ethereum Be Used For?
First and foremost, Ethereum is a platform that enables developers to build decentralised apps. There are endless different uses of the platform, with a handful of these DApps offering either an escrow service or a secure platform for the trading of services and goods. On the other hand, Ether can be used to purchase a large number of items – in the ‘real world’, Ethereum can be used in health, politics, self-driving cars and storing data.
Benefits Of Ethereum
There are three main benefits of Ethereum; trust, transparency and security. The entire platform is decentralised, and that’s to the cryptographic security, users can rest assured that they are protected against disruptive attacks such as hacks and the use of malware. What’s more, Ethereum smart contracts offer a level of security which Bitcoin, let alone various other cryptocurrencies, may not be able to provide.
The Future Of Ethereum
When it comes to choosing a cryptocurrency to invest in and use, many people automatically turn to Bitcoin. As one of the most spoken about cryptocurrencies, it’s hardly surprising that this cryptocurrency is popular, but just because it’s popular, doesn’t mean it’s the best. Those who are specifically looking for a high-performing, integrated and decentralised platform to store, buy and use their tokens should turn to Ethereum. The future of Ethereum is bright, and by investing now, you can rest assured that you will be able to continue reaping the benefits of crypto in the future.
With the future of Ethereum set to be bright, now is a great time to begin embracing the decentralised cryptocurrency alongside Bitcoin. Whilst Bitcoin is making headlines, the benefits of Ethereum do not go amiss, and with the ability to be used in a number of unique ways, Ethereum stands out as a valued cryptocurrency. What will cryptocurrency will you invest in; Ethereum or Bitcoin?
