Whereas Bitcoin continues to stay the “blue chip” of cryptocurrencies, 2020 has seen Ethereum path in second place, in addition to the rise in reputation of altcoins constructed on Ethereum, mentioned Hong Fang, CEO of OKCoin.
“2020, along with Bitcoin which takes the dominance available in the market, about 73% of the quantity, Ethereum undoubtedly comes subsequent. Ethereum is mainly a protocol that enables good contracts, in order that quite a lot of functions may be constructed on prime of it,” Fang mentioned.
“I might disagree, however not [with] the truth that Ethereum has inferior expertise than Bitcoin. I feel these two are constructed for very totally different use instances. They’re additionally in very totally different levels of growth of their life cycle. Bitcoin was constructed as a retailer of value,” Fang mentioned. “Ethereum, however, is constructed to permit good contracts, in that individuals can really construct apps on prime of it to essentially construct web use instances within the crypto world.”
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