Ever since the inception of cryptocurrency in the today’s world, different digital coins have been created, and each of them strives hard to be better than others in the industry, thus, ensuring that their functions are improved chronologically, and more are added.
However, it is necessary to know that cryptos have a similar goal in making life a lot easier in every aspect. But only the ones that are set to improve and develop their path will be valued sooner than later.
With all that in mind, we would take a detailed look at why you need to support Ethereum in the market today. So let’s get started right away!
The Ethereum Blockchain (ETH)
One of the biggest cryptocurrencies right now is Ethereum, and it is the second-ranked crypto in the world according to market cap today, next to bitcoin (BTC).
Well, even though this information doesn’t tell the whole story, it is important to note that another valuable aspect has taken its place. Ethereum has also overtaken bitcoin when it comes to the number of active addresses in the market.
Presently, Ethereum has more than 35 million unique addresses, which represents about 100% increase since 2017. In addition, this crypto-coin is apparently adding an average of 100,000 addresses per day, which indeed is a big thing.
We need to know that addresses in Ethereum wallets can be re-used whereas you cannot re-use Bitcoin wallets; but on a norm, there should be fewer active Ethereum addresses. Nevertheless, due to the fact that ETH has the more active address of about 100,000 than its counterpart, BTC, then we are safe to say that there are more activities with Ethereum than Bitcoin.
Ethereum Transactions
When it comes to transactions, ETH has proven to be better than its biggest rival (Bitcoin) in the crypto-market. However, the leading cryptocurrency in the market now by cap has been around for a long period of time; as of recent times, it is evident that Ethereum is now the winning team.
Essentially, one thing everyone should know right now is that, if Bitcoin makes plans to increase its transactions, it can only upgrade to about more than 100,000 transactions daily, while Ethereum can reach to more than 600,000 transactions regularly, in which it might even upsurge to one million with the improvements that have been put into place lately.
The Leading cryptocurrency
Alexis Ohanian, co-founder of the popular social news site Reddit, stated:
“I am most bullish about Ethereum simply because people are actually building on It”
Well, this statement seems to be true as more and more investors are investing and supporting Ethereum daily.
However, Alexis Ohanian has talked about Ethereum and given the option to those who want to join the leading cryptocurrency in the market today. Ohanian statement also advised investors to go for better options than Bitcoin, which is the leading cryptocurrency on the list by market capitalization.
It is necessary to know that the reason why Ohanian is recommending Ethereum over Bitcoin is due to the flexibility for application development that Ethereum tends to offer its users. And also, the technology that ETH uses is top-notch which is even attracting lots of governments at the moment.