Ethereum Prediction: Prince of Cryptocurrencies
Ethereum is the heir apparent to the cryptocurrency throne. Bitcoin is the king of cryptocurrencies and will continue to capture the interest of all investor classes for several years. El Salvador became the first country to accept Bitcoin as legal tender in early September 2021.
The country hopes to utilise Bitcoin as a mode to facilitate cross-country payments and save millions in fees levied by financial institutions. Several businesses have included Bitcoin as a payment option globally. That said, Bitcoin has no real applications – any cryptocurrency can be used to suffice the mentioned purposes and in fact, most will fare better.
Popular cryptocurrency transaction speeds compared
To put it into perspective, Bitcoin can process up to 7 transactions per second (TPS). Neo on the other hand can process up to 10,000 TPS and Ripple can support 1,500 TPS. While Ethereum can only handle up to 15 TPS at the moment, Ethereum 2.0 is the answer – Ethereum 2.0 promises up to 100,000 TPS!
Why Ethereum and Ethereum 2.0, in particular, is the real deal
The rollout of Ethereum 2.0 not only promises quicker transaction speeds than are currently available but also a plethora of other improvements to the Ethereum blockchain. Ethereum serves a variety of use cases already which makes it the most important crypto asset in the crypto sphere. The key benefits of Ethereum 2.0 include:
- A switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS) for quicker transactions and lower fees.
- Ethereum holders will be able to earn rewards from staking.
- The implementation of sharding for higher TPS.
- More practical for average users.
We must accredit Bitcoin as the pioneer of the crypto industry and the most important component in the worldwide acceptance of cryptocurrencies but Ethereum is the crypto asset of the present and the future.
Author: Surajdeep Singh
Surajdeep Singh is the marketing director at NFT Contemporary and has been working as an IT and blockchain journalist since 2018. He is a contributor to publications including IT Business Edge, Enterprise Networking Planet, eSecurity Planet & Moni Talks and works as a consultant at Drofa Communications Agency.