The Snail Currency – Ethereum
Like all other cryptocurrencies, Ethereum isn’t left out in its markets ups and downs. A major stronghold of Ethereum is its use for more than just a currency; it is used for creating smart contracts and distributed application. It runs without the interference of a third party through a seamless decentralized ledger. It requires far lesser time in terms of transactions; it can be transferred within seconds compared to bitcoin, which takes 10 minutes.
Many other cryptocurrencies ride on Ethereum tokens known as ERC-20, which are issued on Ethereum networks. ERC-20 defines the standard rules that all ERC-20 tokens must adhere to when transferring, receiving, accessing and so on as the case may be. Example of Ethereum based cryptocurrencies are Tether Erc-20, Uniswap, MakerDao, Aaves, Ethereum Dapps, etc
For the second-largest cryptocurrency, one would expect a nose-to-nose competition between Bitcoin and Ethereum. Sadly, the case is the reverse, with bitcoin standing at $49,003.02 per coin and a market cap of $913.54B, while Ethereum stands at $1,564.02 per coin and a market cap of $179.68B as of March 2, 2021. The large market gap and popularity of Bitcoin compared to the snail-like pace of Ethereum has made it a less attractive coin for some long-term buyers of cryptocurrencies.
A marvelling fact about Ethereum is its steady growth ability and less volatile state compared to most cryptocurrencies. For most investors, the next best cryptocurrency to acquire would be Ethereum, as Bitcoin is undoubtedly too high for most people to purchase. At the same time, Ethereum still has a long way to reaching bitcoins current height.
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