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If you regularly follow the world of cryptocurrencies, you probably understand how special Bitcoin is. Bitcoin was the industry's first product that it created.After reading these few lines, you will understand Sylvain Saurel - the author of the article is a Bitcoiner. However, he is not the one who maximizes Bitcoin but simply the one who loves Bitcoin.He firmly believes that Bitcoin is still the future king, but should also consider other cryptocurrencies that help solve problems in the real world.Therefore, you should consider carefully about buying ETH tokens from the Ethereum Blockchain. Why is that?The following article of Tapchitienao.com is 5 reasons why you should consider Ethereum even if you are a Bitcoiner, please refer!
Ethereum has the largest ecosystemEthereum launched on July 30, 2015, after nearly 4 years Vitalik Buterin worked hard. Inspired by Bitcoin in 2011, he decided to invent a new protocol that allowed users to create smart contracts entirely in the Turing language."From the beginning, Ethereum was different from Bitcoin in terms of providing smart contracts as well as decentralized applications."In its field, Ethereum benefits from this leading edge.The Ethereum blockchain is quickly becoming a popular choice for many people. In the following years, many cryptocurrency projects were launched on the platform and used ERC20 tokens."By 2020, many promising cryptocurrency projects operate on the Ethereum platform."These projects have solved the problem of users in the real world and thus have real potential for the future.Maker is the smart contract platform on the Ethereum Blockchain and currently ranks 25th among the most capitalized cryptocurrencies (about $ 640 million).
The Basic Attention Token project leverages an open Web model through BRAVE (privacy-friendly browser) also based on the Ethereum Blockchain."The market capitalization of Basic Attention Token is 384 million on February 22, 2020."Nexo specializes in providing instantaneous credit limits in cryptocurrencies that also work on Ethereum and earn significant profits.Enjin has signed a partnership with Microsoft and Samsung to bring the ENJ cryptocurrency into operation. This is the leading company on Blockchain-based games. And once again, ENJ works through Ethereum.Not only that, there are many examples of successful cryptocurrencies on Ethereum such as USDC, REP, DAI, OMG or SNX."Therefore, Ethereum has the largest ecosystem in the cryptocurrency industry."The total market capitalization of all these projects gives greater strength to Ethereum, which had a market capitalization of $ 28 billion on February 22, 2020, ranking second after Bitcoin.
Ethereum is the index representing altcoin behaviorAs such, most of the most promising altcoins on the market are based on the Ethereum blockchain. Therefore, Ethereum can be considered an indicator representing the behavior of Altcoin."By buying and then hodling ETH from Ethereum, you benefit from the significant potential success of many Ethereum-based altcoins."When Season Alt takes place in the cryptocurrency world, the simple fact that owning ETH will allow you to benefit from it.Even if you are a Bitcoiner, you should not miss such an opportunity.If Bitcoin is still a priority in the portfolio, it is possible to diversify with 20% ETH for example.By choosing ETH instead of trying to find the right Altcoin, you have clearly reduced the risk.
Ethereum is a hegemony leader in the dApp fieldIf Bitcoin benefits from the first advent advantage in the cryptocurrency world as a whole, then ETH benefits from the same decisive advantage in the world of smart contracts and dApps."Today, more than 3,300 decentralized applications are running on the Blockchain."These dApps are aimed at many areas: gaming, society, finance, development, media, healthcare, insurance, property, etc.If blockchains like EOS or NEO have the ambition to someday deplete Ethereum in this area, you have to admit they are far from doing it."As of February 22, 2020, the Ethereum platform is the platform with 2,775 active applications."Therefore, Ethereum dominates 84% ??of the dApp market.Its closest competitor is EOS with 321 dApp. NEO is far from being a true competitor of Ethereum with only 20 dApps on Blockchain at the moment.The dApp market is expected to grow in the future. The fact that Ethereum is a hegemony leader in this field is the reason you should seriously consider ETH for the future.
The promising DeFi world on Ethereum is almost exclusivelyDeFi stands for Decentralized Finance. This term is in contrast to the traditional finance that some people call CeFi (centralized finance)."While Bitcoin has facilitated a completely decentralized and secure payment system, DeFi allows decentralized financial services."DeFi relies on platforms like Ethereum that support smart contracts, then can write and execute decentralized programs capable of creating anonymous financial transactions.Through smart contracts, some traditional financial instruments become decentralized and no longer controlled by a single entity."The loan market, derivatives market or asset market is one of the most promising areas in the DeFi world."Financial services provided through a smart contract have three basic advantages:Cannot be manipulated. Once registered on the Blockchain, it will not be changed and will expire no matter what happens.Absolutely predictable. The behavior obeys what is indicated at the time the smart contract is created.Public and therefore verifiable by anyone.These capabilities are provided by unique tools and open up new possibilities for investors.
"As of February 22, 2020, more than $ 1 billion in value is locked in the DeFi market."For many, DeFi will undoubtedly be even more successful in the coming years."What's interesting for Ethereum is that over 95% of the current DeFi market is based on this Blockchain."Maker, which operates on Ethereum, has more than $ 600 million locked at the moment, representing a domination of more than 57% in the market.Ethereum once again has a decisive advantage over rivals in the rapidly expanding field. Therefore, considering what awaits DeFi in the future, it would be smart to HODL some ETH because it would benefit from DeFi's success.
Ethereum 2.0The end of 2019 marked a historic turning point for Ethereum with the launch of the Ethereum 2.0 project. This new version allows Ethereum to secure its place in the future. Implementation activities will last until 2021."With Ethereum 2.0, the Vitalik Buterin Blockchain will say goodbye to Proof-of-Work by switching to Proof-of-Stake."Ethereum has chosen to sacrifice network decentralization to increase performance. With Ethereum 2.0, the number of valid transactions per second will skyrocket.For some, this option is taboo. Others understand that there is only room for a completely decentralized cryptocurrency and that is Bitcoin."A project like Ethereum and others must be willing to make concessions in this regard."
The concept of Shending is the basis for Ethereum to achieve a lot of scalability success. By the end of phase 1 of the implementation of Ethereum 2.0, 64 shard chains will be deployed.Each shard chain is allowed to conduct parallel transactions on the Ethereum network. In addition, more shard chains can be added in the future if required.Finally, a new virtual machine called eWASM is included in the program to allow faster execution of decentralized applications.Ethereum 2.0 is clearly a big bet on the future of Vitalik Buterin and his team. If Ethereum successfully changes this important technology, the platform will dominate the field for many years to come.Therefore, think twice about buying ETH to benefit from Ethereum's dominant position in the future.
ConcludeThe author also believes that Ethereum will have an important role in the future along with Bitcoin.Ethereum is the leading platform in the world of smart contracts and dApp. Besides, it is also the technical basis for almost all cryptocurrencies with a real future like BAT, NEXO or ENJ.The top position in the smart contract world also allows Ethereum to have a very important competitive advantage in the DeFi world, which is set to literally explode in the future.All of these uses of Ethereum will have a strong impact on ETH tokens that are increasingly hard to earn. This scarcity will necessarily push prices up.Therefore, in order to benefit from developing markets in the coming years, you should consider Ethereum a great way to diversify your portfolio, even if you are a convincing Bitcoiner.
