Ethereum founded by Vitalik Butarin this year celebrates its 10th anniversary. Launched with the lofty ideal of changing the very nature of money itself, Ethereum was an immediate darling to the advanced early adopters. For them, this made it a better, long-term investment than Bitcoin.
From its inception, Ethereum was envisioned to catalyze the rise of decentralized finance (DeFi) and a groundbreaking internet evolution known as Web 3. Its superior blockchain technology and “programmable money” concept distinguishes it. This feature enabled the development of “smart contracts,” which unlocked a world of opportunity far beyond simple transactions.
One of Ethereum’s attractions is its potential for faster and more frequent trading than Bitcoin. This contrasts sharply with Bitcoin’s maximum of seven transactions per minute and its potential use as an efficient medium of exchange. Ethereum’s superior technology helped to make it the more appealing choice for people who were interested in digging into what the platform could offer.
The cutting edge cryptocurrency fueled a wave of enthusiasm from technology industry investors that named the tech-forward city home. They understood that its potential was far greater than Bitcoin to become much more useful and flexible. These technological advancements built into Ethereum made it a leader in the quickly developing digital currency space.
Though recent figures show a positive trend, Ethereum has still faced the wrath of market crashes. By the end of the first week in April, it had plummeted 38%. This volatility highlights the unpredictable nature and risks of the cryptocurrency market.
Ethereum’s design makes it very easy for it to be attached to the speculative hype of “smart contracts.” This programmability is Ethereum’s biggest advantage and differentiator from Bitcoin. It allows for automated contracts and transactions, greatly expanding the possible applications.
