Today is the world of cryptocurrencies. And, bitcoin is the top cryptocurrency across the globe, including India. After all, it’s the first crypto to be launched into the market. However, there are various other cryptocurrencies flooding the market. One of them is Ethereum’s ETH. This crypto has now become a potential competitor of bitcoin.
Ethereum was conceived in 2013 and initially launched on 30 July 2015 by Vitalik Buterin. In recent times ether is only second to bitcoin in terms of market capitalization. But, all there is in Ethereum technology and metaverse to offer to its customers which is attracting more traders. And, is there any chance that Ethereum can beat bitcoin in the upcoming future? These speculations, projections, and predictions are surrounding almost every investor and financial advisors’ mind. If you are also wondering about the same, you have reached the right place to get better insights into the current scenario.
Here is everything you need to know about Ethereum outperforming its peers, especially the toughest competitor, bitcoin.
Brief introduction about Ethereum and its functionality
Ethereum is a decentralised blockchain platform that has its own cryptocurrency ether. It operates on a blockchain which is a digital record of transactions, also called a ledger.
Not to mention, Ethereum is one of the open-source blockchains. It means it is produced collectively, shared and published transparently. Furthermore, it is very different to the common software that is made privately by an individual or single company.
Besides, Ether is actually a digital token of Ethereum. It is referred to as a digital coin, but it is more profoundly thought to be the “fuel” of the Ethereum network. Today, every crypto exchange in India offers Ether on its platform to users due to its growing demand and market share.
As of Ethereum’s performance and competition, reports and statistics from the last 2-3 years state that Ethereum has outperformed its sole competitor, bitcoin. And, can continue to reign. Recently Ethereum beat bitcoin in 2021 and we can witness the same in 2022 and in upcoming years.
Currently, the price of Ethereum is 2,83,651.89 INR and is expected to jump in the near future. Many investors and traders are converting ether to INR from the reliable crypto exchanges in India like WazirX. As they can see the popularity and growing capability of ether.
You can also explore different financial websites and crypto exchanges to better understand Ethereum and get live updates about the same.
Lastly, Ethereum is predicted to overpower other crypto assets by crypto experts keeping in mind its fast growth and preference. But, you never know, the crypto world is dynamic and vast, anything can happen anytime. So, keep yourself updated with the news trends and ongoing affairs of the crypto market. And, trust reputed, experienced and the best crypto exchanges in India to prevent fraud and misleading information for overall loss.
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