Bitcoin has been around longer than Ethereum. One would think that it would be the first to receive acceptance from financial institutions and corporations. However, banks have favored Ethereum and shown great support for it. Recently, a startup, R3, in the Ethereum platform was used to troubleshoot a blockchain problem in the presence of renowned tech companies. What better way to earn the trust of financial institutions than through smart contracts? Approximately, 84 financial institutions support the R3 project.
Similar Posts
Ethereum is not bound by limits like Bitcoins
Byadmin
Bitcoin remains the most recognized virtual coin, but the growth of Ethereum seems to be closing in on it. Bitcoin’s market cap is known to have a fixed amount of available currencies. The goal of Bitcoins is to mine 21 million coins, then no more. Ethereum does not have an actual cap. It’s only limit…
Ethereum hosts a majority of ICOs
Byadmin
Most of the emerging tokens are launched in Ethereum for their Initial Coin Offering sales. Over three-quarters of ICO sales are hosted on the blockchain. A majority of the ICOs are built on ERC-20.
Ethereum is switching to Proof of Stake
Byadmin
Ethereum currently has a faster mine rate compared to Bitcoin. When it began, mining and Proof of Work were the critical technologies used, specifically to attract miners who kept the network running. However, that is subject to change since developers in the network are working on swapping from Proof of Work to Proof of Stake…
Ether is the crypto unit, not Ethereum
Byadmin
Don’t get mixed up between Ethereum and Ether. Ether is the native token that people trade in, Ethereum the underlying blockchain network. Ether is traded as a virtual coin like other Altcoins. It is also used inside the Ethereum network to run applications. Moreover, it can be used to monetize the work done inside the…
Ethereum was a crowdfunded project
Byadmin
Vitalik had the idea of Ethereum in 2013, but he did not have sufficient resources to make it a reality. He turned to crowdfunding, which became a success. In 2015, he managed to create and launch Ethereum that received public acceptance.
Ethereum platform is an open-source
Byadmin
Ethereum allows users to work for it or build off it using Solidarity, the network’s programming language. Using this language, developers can create their own cryptocurrency and Dapps without downtime, fraud, regulation, or interference from third parties. The Ethereum community is ready to assist those willing to work with them. It is alleged that the…