|
|
"Ethereum is the world's second most popular cryptocurrency.
Ethereum is the second most popular cryptocurrency in blockchain transactions. According to a recent study by the University of Cambridge, there were over 47,790 transactions on the Ethereum network every day in the first two months of 2017.
The study shows that Bitcoin remains the most popular cryptocurrency in the market, with support from 98% of cryptocurrency exchange websites and vendors, compared to only 33% supporting Ethereum transactions. However, Ethereum has been gaining user attention much faster than Bitcoin. Since last year, Ethereum's transaction volume has more than doubled.
Bitcoin exchanges also facilitate Ethereum trading.
Bitcoin exchanges such as Kraken, Bitfinex, Coinbase, and Gemini all allow Ethereum trading, and some even allow trading with US dollars. While it is currently more convenient to shop with Bitcoin than with Ethereum, the two are not necessarily direct competitors. Their relationship is more like ""cousins""; both apply the same technology, but they use it for different purposes.
Entrepreneur magazine explains:
In contrast to other cryptocurrencies that compete with Bitcoin, Ethereum complements Bitcoin. While the Bitcoin blockchain is primarily used to track ownership of a digital currency... Ethereum enables people to create customized and reliable fundraising platforms, decentralized autonomous organizations, and even their own cryptocurrencies.
The potential of Ethereum goes beyond digital currencies.
Steiner says:
From my personal perspective, Ethereum has a more active developer community that actively thinks and explores various use cases.
For example, if you wanted to use a business model similar to Airbnb or Uber to facilitate transactions between individuals, applying Ethereum could disrupt what critics see as exploitative practices in the ""sharing economy."" In the future, users can connect directly with suppliers through the Ethereum blockchain network, rather than allowing intermediary apps to charge fees to suppliers and collect users' personal data for their business interests.
Steiner explains:
Ethereum can handle user transactions in these applications, Parity's browser can be used to explore the next generation of Uber or Airbnb networks, which are 100% controlled by users, with no intermediaries charging high fees.
Currently, the Ethereum community is relatively small. According to the University of Cambridge's research, Steiner estimates that there are tens of thousands of Ethereum users, while there are approximately 2.9 to 5.8 million cryptocurrency users worldwide. However, the same study shows that there are currently about 1,875 people working full-time in the cryptocurrency industry globally, and many of them are Ethereum developers. Steiner believes that the proportion of Ethereum users will grow rapidly.
Steiner says:
I believe we have reached a pivotal turning point, perhaps not yet in everyday use, but it is definitely being recognized by people, and I am confident that this technology will ultimately be adopted by the masses." |
|
Post time 2-11-2023 12:16:30
