Hong Kong, China -- (ReleaseWire) -- 07/04/2021 --What might the difference between ETH and bitcoin mean for the future development of blockchain and encryption applications?
Since blockchain and encryption became a part of the financial market dialogue, bitcoin has always been a part of the financial market dialogue, whether it is a market leader, a dialogue pioneer, or a leading force measured by any index. With a market value of more than $1 trillion, bitcoin is the main purchase activity of well-known organizations (such as Tesla), and the main payment processors have started to use encrypted payment. Therefore, it can be concluded that bitcoin's dominance is almost certain, which is logical.
However, on the other hand, Ethereum and Ethereum blockchain have developed rapidly in terms of cryptocurrency valuation and other applications developed on the blockchain.Take a step back and put aside the price observation that attracts market analysts and participants every day, Ethereum and Ethereum are indeed leading stories in 2020 and the second half of 2021. In addition to the current price rise of Ethereum, many blockchain applications that have attracted the attention of the mass market have been developed and run on Ethereum blockchain.
Although Bitcoin has (and deservedly) continued to lead the broader crypto conversation, there is one case that shows that Ethereum will lead the next phase of blockchain implementation in terms of applications and use cases. In other words, for the first time in the financial market dialogue, it appears to be an open competition to determine which protocols and cryptocurrencies will lead the industry forward. Let's break down some of the basic items that the market will need to evaluate.
Applications and transactions:
One of the most heated debates over the past few years has been about whether encryption can really be used for trading, not just as a speculative investment.In the United States, at least, all cryptocurrencies are temporarily regarded as property, and it seems that tax treatment will still be retained. This has broad implications. With the exception of not really reflecting the function or use of many cryptocurrencies, especially the development of stablecoin as a medium of exchange, reporting and potential tax liabilities continue to prevent cryptocurrencies from being used as a medium of exchange. In other words, every encrypted transaction may have a tax liability, which is not good news for bitcoin maximizers who predict that they will replace fiat money. However, the Ethereum blockchain has proved to be a solid foundation for new use cases, such as decentralized Finance (DeFi) and irreplaceable token (NFT).
Diversification and price. The number of cryptocurrencies, coins, tokens and the whole crypto asset seems to be increasing every day. To be sure, many new cryptocurrency iterations lack many attributes that make the more widely known cryptocurrency so interesting to investors, but the market is expanding in the same way.
How does this connect back and forth between BTC and ETH?
The discussion about the increasing number of encryption assets goes far beyond simply admitting that there are more and more investment options. Back to the first point, there are many applications running on the Ethereum blockchain. Stablecoin, DEFI and NFT have been connected to the non bitcoin platform. As blockchain and encryption use cases continue to diversify, it makes sense to channel capital to platforms that support these new applications, if not most of them.
Platforms and assets. Another factor in the competition between bitcoin and ETH is that the market will ultimately focus more on the ecosystem than on specific crypto assets. To be more specific, what is the real value of an organization like Apple? What is the network impact (and information) of the specific product itself, or the enabled devices? The direct reason may be that there are some differences, but the common consensus is that the main part of a company like Apple's success is the network effect it provides as a powerful platform.
Logically, will the results of blockchain and crypto applications be different?
There will certainly be a lot of discussion and debate about what the recent bull market of Ethereum means for the long-term maturity of cryptocurrency and blockchain space. That is to say, despite the price fluctuations that continue to exist in the cryptocurrency sector, there are some basic issues that are beginning to push the broader dialogue forward. It's too early to say what the final price of various cryptocurrencies will be and how new applications will be developed or which options will go to the forefront. In any case, the breadth of creativity and innovation should be celebrated.
So are you optimistic about the future trend of bitcoin Ethereum? Know how to get bitcoin and Ethereum?
ZB provides a variety of bitcoin trading pairs.First, you need to sign up for an account. Registration is fast and direct. However, you need to verify your identity before you can participate in the transaction. As the world's leading blockchain digital asset trading platform, ZB has built a one-stop trading platform for users with its rich and diversified product matrix, advanced trading system and matching technology, perfect capital storage technology and smooth trading experience, which can meet the needs of different users.
It is a relatively perfect cryptocurrency trading channel in China, with many large customers. Its business covers OTC trading, fiat trading and contract trading. Only by choosing such channels with high popularity, good credit endorsement and brand influence can we buy bitcoin safely. Nowadays, one of the reasons why ZB is highly praised by more people is its high security. It is strict in sealing up the offending account number. In the past eight years, there has been no capital security accident in ZB, and the transaction security is among the best in the industry. Choose this kind of channel with high popularity, good credit endorsement and brand influence to buy bitcoin. ZB also has the function of convenient buying currency, which is suitable for beginners.
Bctype is a media dedicated to blockchain information and market analysis.