The digital market offers more than a thousand different cryptocurrencies. But only there are only two that fight for the silver and gold medals – Ethereum and Bitcoin. They are as much different as they are similar. While one was the pioneering product, the other is often viewed as the better or more innovative one. Users have engaged in lots of heated disputes as to which one is the best. The answer is still uncertain and only time will show. Let’s examine the two biggest cryptocurrency exchanges’ crossing and breaking points.
Bitcoin is the Foundation of Ethereum
Economist Milton Friedman managed to predict the launch of a digital currency back in the late 1990’s – almost a decade before the actual creation of Bitcoin by Satoshi Nakamoto. He stated that the world’s governments had imposed ‘collectivism’ on society, their far-reaching hand making them the sole authorities that have power and control over one’s life.
It was not long after that that Satoshi Nakamoto published a paper, dubbed ‘Bitcoin: A Peer-to-Peer Electronic Cash System’, on a digital cryptographic network and nothing was ever the same again. The first Altcoin managed to not only provide users with an innovative way in which to carry out transactions in between one another but also to act independently and anonymously.
There is a very good reason why the average Bitcoin value is prone to such dramatic fluctuations in the last year – its blockchain technology and its respective applications have been further developed and enhanced by newly-arisen digital currencies. Still, it has successfully managed to keep its leadership position on the market.
Bitcoin Vs Ethereum Investment – Which is the Most Productive?
Both the Ethereum and Bitcoin values have to swing between unseen highs and lows in the past year. Ethers do have a little advantage when it comes to future price predictions. Since Vitalik Buterin’s Altcoin exchange offers smart contracts, a transaction approval time of only 12 seconds, and an enhanced version of the blockchain network, Ethereum will most likely do better in the long run.
There are some speculations that the fact that Bitcoins have a limited number and are almost exhausted and mined for will keep the rise in its price stable and ensured. Just like that of a rare piece of art, oil or a precious metal. But more concrete facts need to come out in order to prove this.
Both cryptocurrencies are here to stay but only time will tell which one will be more easily applicable for currency trading. Interest in them has only been increasing. Another possible scenario is that one of the lesser-known digital exchanges will surprisingly introduce a new blockchain, public or private ledger innovation and take the pie right from under their noses.
Application of the Cryptocurrency Exchanges
While Bitcoin may have been the first to make the public familiar with the blockchain network and its adjoining virtual apps, it has received heavy criticism in the last couple of months that its transaction information is way more transparent than is good for the end user. Private information about the sending and receiving of monetary sums and data can literally be seen by anyone. Especially, by the interested representatives of official authorities.
The approval of a given transaction also takes up more than 10 minutes. Ethereum, on the other hand, can confirm them in under 12 seconds and has implemented enhanced SSL protocols. Payment and clearing periods are also very short. One of its most revolutionary inventions were the smart contracts.
The cryptocurrency trading public seems to be particularly fond of them. Smart contracts grand users greater freedom, anonymity, and flexibility. There is also no limitation or auto-restriction imposed on the supply growth.
Ethereum’s crypto mining and currency mining operations are also more decentralized. Any user that has a proper GPU can engage in them. Bitcoin does not generally approve of the common implementation of specific singular circuits.
Future of Blockchain & Crypto Trading
While the future of Bitcoin and Ethereum is still subject to increased speculation, due to the high volatility of both the digital and the real-life market, there is no doubt that the blockchain technology is here to stay.
Lots of upscale companies have already implemented it into their daily operational process. More and more of its possible applications are discovered every day. Digital currencies and transactions are also not going anywhere. The only question is whether the leading cryptocurrency exchanges ten years in the future will be the same ones as they are today.