Bitcoin continues to reign as the top cryptocurrency, for now; its run, however, will be challenged by many of the growing coins which were created in the first place to fix the flaws in Bitcoin.Although Ripple has crossed the market cap of Ethereum, still Ethereum stands as the strongest contender to challenge Bitcoin and eventually take over Bitcoin’s market in the upcoming years. Although, Ethereum to Bitcoin exchange is available at all the leading crypto exchanges, such as CoinSwitch. Here are three reasons why it is possible it will happen:
Ethereum’s edge over Bitcoin is its ability to use smart contracts. These contracts are automatically executed the instant their terms are met, without any human intervention. Ethereum also enables developers to build decentralised apps, more popularly called dapps, over its blockchain technology. It is increasingly playing a huge role in applications such as predictive analysis, cross-border payment services, decentralised markets, digital rights management, digital signature in transactions, crowdfunding and many more. It is also well on its way to becoming the standard in dapps among cryptocurrencies which will be used by many massive corporations.
Another factor to consider why Ether can overtake Bitcoin is who is backing the respective currencies more and why they are doing so. Bitcoin focusing on payment technology makes it a favourite with the governments such as China and Japan’s governments. Ethereum on the other hand with its smart contract technology makes it popular with corporations due to its real-world applications. The real intrinsic value of Ether lies in its usage in decentralised applications. There is a growing trend of many new applications that are developed and launched on the Ethereum platform. As a proof of the technology’s potential and popularity consider the new coalition that goes by the name Enterprise Ethereum Alliance (EEA) which was formed with the objective of fostering the growth of Ethereum. This alliance consisting of more than 86 firms was started by market giants such as JP Morgan, Microsoft and the likes. It’s hard to estimate the future usage of Ether, but a lower end estimate is an increase of 20 to 30 fold over the next 5 to 7 years.
What the experts weigh in
Roger Ver, a cryptocurrency advocate whose involvement in the crypto-space has earned him the name ‘Bitcoin Jesus’ predicts that currencies such as Ethereum that are superior to Bitcoin will see huge gains in the upcoming months. During their months of bullish run in 2017 Bitcoin saw an increase in the value of 450% while at the same time looking at the ETH Price Chart show Ethereum go up by 1000%. Although Ether’s price is far less, it has five times more circulation and a potential to overtake Bitcoin in market capitalisation. It is already the case that Bitcoin has lost nearly half of its market share to Ether. As its popularity grows, more and more people can Buy Ethereum with Credit Card on all exchanges as an investment.