With just a bird’s eye view over the market share in the crypto market. Anyone can see that Ethereum and Bitcoin hold the lion’s share in the cryptocurrency market. Although when you compare these digital assets with another, Bitcoin holds a bigger market share than Ethereum. But is it going to be the same in the future? Let’s find out this further in the post?
Without a doubt, Bitcoin is the most traded digital asset with a market cap of 600 billion USD. One of the biggest reasons is that it introduced the concept of the digital coin or let’s stay running a parallel financial market. On the other hand, Ethereum (ETH) is not behind Bitcoin and is the second most preferred choice of traders to make their investments. ETH holds a market cap of 300 billion US Dollars and is a popular name in the cryptocurrency market world. If you are interested in bitcoin trading visit fbc14-algorithm.com/
However, one thing worth considering about both these digital coins is the technical flaws associated with them. You will be surprised to know that amidst April, nearly half of the transactions that happened over the ETH platform were failed due to some technical reasons. But on the other hand, if you see the technical issues related to transactions over the bitcoin platform there are not that many as compared to the ETH.
The technical flaws in Ethereum are one of the biggest reasons why it’s cofounder decided to upgrade the platform and launch Ethereum 2.0. Without a doubt, the up-gradation of Ethereum solved the technical issues that exist earlier. This is the reason why investors are so hopeful about the future of ETH.
A closer look at the Ethereum 2.0
The up-gradation of the digital coin ETH to ETH 2.0 is what investors and traders are terming as the game-changer. The technical flaws that existed earlier with the ETH are considered one of the biggest reasons why there is a huge spike in Bitcoin. But with this revolutionary and complex upgrade of ETH 2.0 solved all the technical issues thus giving this digital coin a new lifeline.
Now you know why there is a need to upgrade this digital asset. Let’s have a look at some of the interesting features of Ethereum 2.0.
Proof of Work (POW)
When you compare bitcoin and ethereum collectively in terms of proof of work feature then there is basically not much of a difference. POW is the number of efforts miners will make to mine and solve the complex associated math’s problem. Let’s say a miner takes 20 minutes to mine or to solve the associated complex problem with bitcoin. Now, this means the system will reward the miner according to the POW they put in to make the transaction a success. And with the advanced version of the ethereum, lowers the energy consumption and other related mining costs that are needed for POW. In short, a collective miner’s group can work together to verify and make the transaction a success.
Since everyone knows that ethereum is perfectly capable of carrying out 30 transactions per second. When you compare these stats with Bitcoin the transaction capability per second is only seven. But things started to move really ahead with the latest ETH 2.0. With this upgrade, ETH is capable of handling 1,000 transactions per day. The stats might seem a bit overwhelming but yes you read it right. In simpler terms, the upgraded ETH is very much capable of handling a large number of transactions and a perfect scalable digital coin with much improved features.