Bitcoin or Ethereum-which is better and why? | Author: Dwayne D’cunha | The Capital | June 2021
In terms of market value, Ethereum may have lost its number one position, but it has always been the number one when it comes to making changes and adapting to the future. Ethereum has also successfully transitioned to Eth2, which is a very anticipated update that will expand to a whole new level. If you do stake your Ethereum, you will also be interested in it. Moving to a “proof-of-stake” system will not only solve the power consumption problem of many cryptocurrencies, but it will also make the process similar to the process where stakeholders make important decisions (such as verifying transactions). Although it will take another year to complete the whole process, the beginning is very promising. Ethereum is also the foundation of NFT, and it has taken over the art industry. From digital artists to the F1 community, everyone has taken advantage of the NFT boom. The use of blockchain to increase the value of basic art works provides many young artists with creative output that generates income.
Bitcoin has always been the center of leading financial decentralization. The price of Bitcoin undoubtedly played a huge role in persuading many people to start taking cryptocurrencies seriously. Despite Elon Musk’s various criticisms of its energy use, this cryptocurrency still maintains its leading position. Even El Salvador sees Bitcoin as an important asset that can help their country achieve financial inclusion. This is a good example for other countries that have been hit hard financially. In addition, the mayor of Miami also proposed to pay workers through cryptocurrency. In addition to letting them pay taxes in cryptocurrency. This shows the potential impact that cryptocurrencies may have on mitigating the economic impact of financial institutions. Bitcoin has also been committed to solving its energy use problems. Bitcoin will definitely pave the way for the booming development of other cryptocurrencies.