Ethereum surely has a great potential to go above and beyond Bitcoin in terms of their market cap. The prognosis for ethereum’s rise looks optimistic considering few key elements that contribute to it:
-Mining ether tokens are cheaper. Less electricity is used for mining, it is also stronger and has a lot of other alternatives to choose from rather than just making simple financial transactions.
– It seems that Ethereum is a lot more flexible which allows new platforms for making smart contracts, leading to fast changes in the price growth.
– Another reason why ethereum’s price will rise is the new plan to switch from Proof- of-work based mining to Proof of Stake mining, where the creator of a new block is chosen in a deterministic way depending on its wealth, and then the miners take the transaction fees.
That said, shifting to POS mining will decrease inflation and tokens will value a bit more than now. Basically, Ethereum has all the needed conditions to hit the 1000$ mark and even more. Ethereum never had the intention to have a value like bitcoin, but investors invested anyway when spotting the opportunity. If we talk about the growth of Ethereum this past year, we can surely see that it has grown to more than 4000% while bitcoin has grown about 600%.
What differs Ethereum from Bitcoin is the new technology behind it. Ethereum operates on a ledger technology which is a decentralized type of database.
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Moreover, Ethereum has the potential to provide basic operating systems for the next generation of decentralized internet and also has the potential to become a publicly used entity.
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