Most experts agree that Ethereum, the second-most popular cryptocurrency, has enormous potential. It is considered to be very promising. Analysts note a number of advantages due to which this virtual currency may over time replace the leader of the digital market - bitcoin.
Availability of improved applications
Acording to its developers, the blockchain system, created on the basis of Ethereum (ETH) was designed not to generate revenue, but to improve the cryptosphere. Over time, convenient applications favoured by most users appeared on the basis of Ethereum.
Transition to the Proof-of-Stake consensus algorithm
Ethereum founder Vitalik Buterin is trying to do everything to ensure that the outdated Proof-of-Work consensus algorithm is replaced by a less expensive and high-speed system, Proof-of-Stake. The creator of cryptocurrency number two and the development team are looking for ways to reduce the cost of transactions. They are striving to make the system more user-friendly. Experts believe that the Proof-of-Stake algorithm will contribute to this matter.
High availability of ETH tokens
Most users can purchase ETH tokens. Unlike bitcoin, they are more affordable. However, the task would be simplified considerably if Ethereum was available for purchase in ordinary stores. This is an interesting idea which is difficult to implement. The developers of Ethereum are working towards that end. In this case, this digital asset will become an international currency and serve as a multipurpose payment method. It should be reminded that digital currencies were created as a bridge between traditional money and virtual means of payment.
Using Ethereum outside the cryptosphere
Many people are wary of blockchain technology. The developers of Ethereum set sights on helping users figure out in this issue and show benefits of this innovation. The blockchain technology is gradually conquering the global marketplace. However, experts point out that the cryptosphere is still rather disorganized. Ideally, Ethereum is supposed to be used in various fields of economics beyond the digital currency market.
Activity on the Internet and social media
Experts consider that in the future users of social media will find a use for Ethereum: they will sell ETH tokens, exchange them for fiat money, as well as pay for various services in the cryptocurrency. They do not preclude the emergence of a social network based on Ethereum. According to experts, it would be a significant step for further advancement of the digital currency. The first steps in this direction have already been taken.
This month, the price of Bitcoin has soared to a record $89,000. Despite its constant volatility, BTC remains the most promising cryptocurrency since its debut in 2009. Many early investors who believed in Bitcoin's potential are now reaping the rewards of their foresight. Let's take a look at today's wealthiest crypto enthusiasts
Economic inequality remains one of the most pressing issues in today's world. To measure the gap between the rich and the poor in each country, the Gini index is used. This coefficient reflects how income is distributed within a society: the closer the index is to 100, the greater the inequality. Let's explore which countries currently have the highest Gini index values
This year has been pivotal for Bitcoin, the world's leading cryptocurrency. One of the key milestones was the approval of Bitcoin spot ETFs by the US Securities and Exchange Commission. In April 2024, Bitcoin also experienced a halving event, which is typically seen as a positive development for the digital asset. This year, the cryptocurrency is up 57%, and analysts remain optimistic about its future. However, they highlight four key factors that could influence Bitcoin's trajectory, both for better and for worse
