Here, we breakdown Ethereum’s strengthens and weaknesses and ask whether it can ever overtake Bitcoin.
Goldman Sachs analysts recently proclaimed that Ethereum is poised to overtake bitcoin at the top of the crypto food chain.
Bitcoin was the first cryptocurrency breakthrough. It is the largest by value and is the most traded, but, as a system is was comparatively ‘early’ and rudimentary versus Ethereum which remains the most popular of the so-called second-generation cryptos.
It remains to be seen whether Ethereum can overtake Bitcoin, or, how it might do so.
Why Ethereum can win
More than a digital currency
A big advantage Ethereum has over bitcoin is that besides being used as a digital currency, it can also be used to process other types of financial transactions and systems.
The Ethereum network can be used to execute smart contracts and store data for third-party applications. It provides a common basis for scores of emerging decentralised financial technologies, albeit not all will survive the Darwinian tests of the marketplace.
