Ethereum has long been in Bitcoin’s shadow, fighting for the top. But, whilst Bitcoin has had a tough year, and at times, an uncertain future, Ethereum is telling a different story.
Currently, the Bitcoin blockchain network is dealing with approximately 230,000 transactions, which are charging a total fee of 37 Bitcoin, equating to $340,000. However, when you look at Ethereum, it really stands out, reaching 800,000 transactions with a fee of 515 ETH, equating to $375,000. A clear lead over Bitcoin.
Bitcoin is currently the top dog when you look at market capitalisation. It is the biggest and oldest cryptocurrency and has long reigned at the top; but if you look at which virtual currency is more applicable to day to day life, the winner has to be Ethereum.
There is reportedly only space for 100,000 more Bitcoin transactions, and yet that figure is six times higher for the second largest cryptocurrency, standing at 600,000, and a figure that is likely to increase to one million after recent improvements.
Speaking of the popular cryptocurrency, Alexis Ohanian, the co-founder of Reddit, said:
“I’m most bullish about Ethereum simply because people are actually building on it.”
He is recommending that people look past Bitcoin, and instead go to Ethereum for a number of different reasons, but mainly thanks to the flexible environment for application development. So whilst Bitcoin is left facing a number of different problems to overcome in order to stay at the top, the future of Ethereum is looking very bright indeed. Although there are no figures to suggest just how high the value of Ethereum will go, but experts are predicting really great things for the cryptocurrency.