Why is Ethereum gaining more popularity than Bitcoin?

Which Cryptocurrency is gaining popularity among its users? Is it Bitcoin or Ethereum? This article will surely help you to select the best one.

Ethereum is betther than Bitcoin

Bitcoin and Ether have gained a lot of attention this year as a result of a volatile surge in costs as also extreme volatility. Ether or Etherum had jumped to roughly $400 in June, up nearly 5, 000% from $8 in January. This week, it fell to below $200 more than 50% from the latest high, but over 2, 000% year to date. Bitcoin, and on the other hand, is up roughly 125% this year. While bitcoin is probably better known, ether is quickly catching up. At this pace of growth, ether, that was founded just about 2 years back, could become the dominant electronic money in this world in these coming months.
There are various reasons for ether's growing popularity. The ongoing feud among bitcoin programmers, miners and specialized experts on how best to expand its processing capability to be able to meet increased demand have also led lots of investors to ethereum. The bitcoin network currently imposes a limitation of seven trades per second, which has slowed trading and also led to higher fees. Some believe that bitcoin would finally be divided into two kinds. According to the latest survey of electronic money users, 94% of the respondents were optimistic about the state of ethereum, versus just 49% favorable about bitcoin. Per Coindesk, a number of the pessimism toward bitcoin leads to surge from the interchange fee and long processing times.

Yet another reason was many users see bitcoin as less of a digital money and more of an electronic gold or store of value whereas they think that ether could be a currency. Bitcoin's reputation has also been hurt by latest global cyber attacks where ransom was demanded from bitcoin. Ethereum got the approval from some of finance and technology giants like JPMorgan Chase, Microsoft and IBM, that have teamed with numerous Other businesses to form the Enterprise Ethereum Alliance, that will develop standards and also the technology for ethereum blockchain. Like bitcoin, all ether's trades are recorded from a ledger called Blockchain, where consumers remain anonymous.

In addition, ether's software enables the creation of online markets and programmable trades known as smart contracts. Therefore, Ethereum gives a global computing network or a platform where decentralized software or Dapps can be constructed. Is these Digital Currency Boom Boosting Nvidia and AMD? Rising demand for graphic processing units, for self-driving vehicles, data center, and gaming, increase Nvidia shares of Nvidia and Advanced Micro Devices. Another area where demand for GPUs is rising is electronic money mining. Per RBC Capital, 100 million worth of Graphics processing unit processors were added to these ethereum mining networks from just 11 days from June.

Will We See an Ethereum Exchange traded fund Before a Bitcoin ETF? Share with us in comments! SEC is now also reviewing an ethereum Exchange traded fund proposal, filed by the supporters of the EtherIndex Ether Trust.

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Why is Ethereum gaining more popularity than Bitcoin? Why is Ethereum gaining more popularity than Bitcoin?  Reviewed by StalkOwl on February 02, 2018 Rating: 5

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