Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Articles about Cryptocurrency => Topic started by: sirty143 on April 19, 2019, 08:39:25 AM
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Blockchain technology, the distributed ledger system that underpins the digital currency Bitcoin, is getting a lot of attention from Wall Street lately. With uses ranging from cross-border payments to settlements and clearing of over-the-counter derivatives to streamlining back-office processes, the potential for disruption in the financial industry and elsewhere is growing more real each day. While bitcoin is the most widely used and well-known use case of blockchain, Ethereum may be the killer app that allows for this disruption to finally take place.
The token native to the Ethereum blockchain, Ether (ETH), has recently risen to over $1,000 per ETH, and the market capitalization of all ether is nearly $98 billion, making it the third most valuable blockchain behind bitcoin (which represents approximately $247 billion of value). What is Ethereum and why is it interesting?
A Brief Overview of Ethereum
Ethereum was developed to augment and improve on bitcoin, expanding its capabilities. Importantly, it was developed to feature prominently “smart contracts:” decentralized, self-executing agreements coded into the blockchain itself. Ethereum was first proposed by Vitalik Buterin in 2013 and went live with its first beta version in 2015. Its blockchain is built with a turing-complete scripting language that can simultaneously run such smart contracts across all nodes and achieve verifiable consensus without the need for a trusted third party such as a court, judge or legal system. According to its website, Ethereum can be used to “codify, decentralize, secure and trade just about anything.” In late 2014, Ethereum raised over $18 million in bitcoin by way of a crowd sale to fund its development.
The ‘Ethereum Virtual Machine’ (EVM) is capable of running smart contracts that can represent financial agreements such as options contracts, swaps or coupon-paying bonds. It can also be used to execute bets and wagers, to fulfill employment contracts, to act as a trusted escrow for the purchase of high-value items, and to maintain a legitimate decentralized gambling facility. These are just a few examples of what is possible with smart contracts, and the potential to replace all sorts of legal, financial and social agreements is exciting.
Currently, the EVM is in its infancy, and running smart contracts is both “expensive” in terms of ether consumed, as well as limited in its processing power. According to its developers, the system is currently about as powerful as a late 1990s-era mobile phone. This, however, is likely to change as the protocol is developed further. To put this into perspective, the computer on the Apollo 11 lander had less power than a first-generation iPhone; it is certainly plausible that in a few short years, the EVM (or something like it) will be able to handle sophisticated smart contracts in real time.
Within the Ethereum ecosystem, ether exists as the internal cryptocurrency which is used to settle the outcomes of smart contracts executed within the protocol. Ether can be mined for and traded on cryptocurrency exchanges with bitcoin or fiat currencies such as US Dollars, and is also used to pay for computational effort employed by nodes on its blockchain.
Ethereum and Decentralized Autonomous Organizations
Smart contracts could be the building blocks for entire decentralized autonomous organizations (DAO's) that function like corporations, engaging in economic transactions—buying and selling things, hiring labor, negotiating deals, balancing budgets and maximizing profits—without any human or institutional intervention. If one takes the view that corporations are just a complex web of contracts and obligations of varying size and scope, then such DAO's could be coded into Ethereum. This opens the door for all sorts of new and interesting possibilities such as emancipated machines that literally own themselves and people being employed directly by pieces of software.
Ethereum and Decentralized Applications
While DAO's may be a concept to be realized in the future, decentralized applications (DAPPS) are currently being developed for Ethereum today. These standalone applications utilize smart contracts and run on the EVM. Some examples include micro-payments platforms, reputation functions, online gambling apps, schedulers and P2P marketplaces.
The key feature to DAPPs is that they run across a decentralized network and are enforced without the need for a central authority or overseer. Any sort of multi-party application that today relies on a central server can be disintermediated via the Ethereum blockchain. This can eventually include chat, gaming, shopping and banking.
The Bottom Line
What Bitcoin did for money and payments by harnessing blockchain technology, Ethereum may do for applications of all shapes and sizes. With a built-in scripting language and distributed virtual machine, smart contracts can be built to carry out all sorts of functions without the need for a trusted third party or central authority. Using its internal cryptocurrency, ether, nodes can be paid for their processing power in running these decentralized apps, and eventually, entire decentralized autonomous organizations may exist in an ether economy.
Source: Investopedia (https://www.investopedia.com/articles/investing/032216/ethereum-more-important-bitcoin.asp)
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if I think both of them are also more important for us to hold now, because the development of the price of bitcoin and ethereum in 2019 is also a better price.
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Bitcoin and ethereum are different in their functionality coins, so you can not argue that some of them are now more important. It can also be argued that Bitcoin is more important because it was the first cryptocurrency, from which ethereum separated in 2015. These two coins are the most important in the cryptocurrency and are unlikely to be opposed to each other.
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According to my thinking bitcoin is most important as all of cryptocurrency. Now a days the bitcoin's prices are very high..so i prefer bitcoin..
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I think bitcoin and ethereum are also different, but I think both are also very important to hold, because bitcoin and ethereum are also good and positive coins to increase a lot of profits in the future, because the price changes of both are also increasing, so I think they are also the main coin to get good profits in the future.
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I dont think ethereum is more important than bitcoin, remember both coins serve different purposes, but can be used for online buying selling in a decentralized blockchain etc. Bitcoin and Ethereum are both extremely important and valuable projects.
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yes I think both bitcoin and ethereum are also very important we hold now, because both are also coins that have good prices going forward and also many people who use
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Bitcoin is important because of its name and power, Ethereum is because its smart contracts and implementation.
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for me, ethereum is just as important after bitcoin. doesn't mean ethereum can replace the role of bitcoin. as long as there is bitcoin, I will prioritize bitcoin first.
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Both are important, if we look the top cryptos all of these have such importance, and differences.
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In the ICO section Ethereum is the king of and whole cryptocurrency world bitcoin is the king of cryptocurrency Kingdom. So you can realise which is the best.
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I think ethereum and bitcoin two very equally popular cryptocurrency in the market. Maximum investors trading two special pairs bitcoin and Ethereum. So Ethereum and bitcoin are equal popular cryptocurrency. In cryptocurrency market 1st position in bitcoin and second position in Ethereum.
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Compared to another digital payment mode, like PayPal and credit cards, Bitcoin comes with lower transaction fees. So I prefer a bitcoin.
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According to my thinking bitcoin is most important as all of cryptocurrency. Now a days the bitcoin's prices are very high..so i prefer bitcoin..
The price of bitcoin is not the main thing. Its price can change dramatically, including falling at any time. The high price of bitcoin compared to other types of cryptocurrency is still based on its authority as the first and most famous cryptocurrency. However, if he does not improve, he will lag behind and lose his position.
Ethereum is very promising for development and therefore in the future it may well play a major role in cryptocurrency.
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Bitcoin is the decentralized virtual currency, it is the world's no.1 currency, bitcoin is used as a payment gateway systems. Ethereum is also virtual currency and it is used as creating a dapps. This two virtual currencies are best currencies.
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Ethereum is no more important than Bitcoin...
Ethereum was created because of the concept of Bitcoin, so it's not good to say that Eth is more important than Bitcoin.
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Fees, BT, ETH, Everywhere, Since we've had a month of high gas prices, is it time to start discussing another gas limit increase?
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No,, bitcoin is the most popular cryptocurrency in the world cryptocurrency market. Most of the countries in the world directly or indirectly familiar with bitcoin.
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Both coins are popular in the market but two coins are different. I think, bitcoin is more important coin than Ethereum. The largest number of people of the crypto world use Bitcoin. The highest number of investment is also being made on Bitcoin. Its value is more than any other coin. Countries of the world are gradually permitting Bitcoin for transaction. So, considering all the factors, I think, Bitcoin is the best.
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Both coins are popular in the market but two coins are different. I think, bitcoin is more important coin than Ethereum. The largest number of people of the crypto world use Bitcoin. The highest number of investment is also being made on Bitcoin. Its value is more than any other coin. Countries of the world are gradually permitting Bitcoin for transaction. So, considering all the factors, I think, Bitcoin is the best.
In terms of many factors, it is Bitcoin that is on the top or as what I am saying the King of all cryptos. Now, its potential to become a global currency is really there. However, Ethereum has also a great potential next to Bitcoin and there are also many users of this cryptocurrency. I would say that both are important and pivotal players in this expanding market.
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Both Bitcoin and Ethereum are very important coin. But Bitcoin is always hero among all the coins. Bitcoin has already grabbed the major part of the the crypto world. The highest number of investment has been made on Bitcoin. Its value far more greater than any other coin. It has get permitted in different countries for transaction. So, bitcoin is more popular than ethereum. But ethereum is also playing an important role in the crypto market. It is considered that Ethereum has occupied the nest place after bitcoin. Investment on Ethereum is also increasing tremendously.
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i think both have coin like bitcoin and ethereum have good profitable future coins. because their price rate growing everyday with huge potential. i also hold bitcoin and ethereum because future value is very bright. the development of coins future is very strong i recommended hold them and wait for price development
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Bitcoin is most popular coin in the world, but [url°https://www.worldcoinindex.com/coin/ethereum]Ethereum[/url] is usefull for many projects. I think both coins are important for the community.
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Bitcoin and Ethereum two cryptocurrency important in market. Some people love Ethereum others love bitcoin as their investment, trading and holding.
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No bitcoin is my favourite coins than the others coins. Ethereum is my second favourite cryptocurrency in the world cryptocurrency market.
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I think Bitcoin is more important than Ethereum because Ethereum is inspired by Bitcoin...
and also we have to see that Bitcoin is still the number one cryptocurrency that controls the market while Ethereum is number 2.
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I think bitcoin is the best online Crypto in the world cryptocurrency market cap and Ethereum is the 2nd favourite altcoin in the coinmarketcap. So i think Ethereum never crossed bitcoin.
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No altcoin can be as important as bitcoin even the Ethereum, well, Ethereum can be in second position after Bitcoin.
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I think that both are equally important. Bitcoin and Ethereum are the same originators and already have millions of investors..
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Bitcoin and Ethereum have different functions, though Bitcoin more on payments and Ethereum has been the home of many ERC based tokens. Defi projects mostly use the ethereum blockchain.
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We cannot say that ETH is better than BTC, because basically these two cryptocurrencies are equally important in the development of global cryptocurrencies. ETH has been the "backing" of many global platforms and BTC has become the most popular digital asset among investors. So it's not fair to say ETH is better than BTC, or vice versa.
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As with everything, i think bitcoin is more important than eth due to its huge volume, but still, ETH has great components that BTC can't do, like creating smart contracts.
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As with everything, i think bitcoin is more important than eth due to its huge volume, but still, ETH has great components that BTC can't do, like creating smart contracts.
Bitcoin and Ethereum two coins are very much important and popular. Most of the investors, traders and holders prefer to trade ,hold and invest both platforms Ethereum and bitcoin.