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Why should you opt for Ethereum?

Ethereum is a digital currency claimed to be the world’s most programmable blockchain. It is not complicated like Bitcoin. That is why people prefer it over Bitcoin these days. Anyone can access it. Reports have also claimed that Ethereum is the future of Cryptocurrency. Some also state that in the next few years, the price of Ethereum is going to be close to Bitcoin like never before.

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Additionally, if you’re considering why you should opt for Ethereum, staying informed about its current value in Australian dollars is crucial. Check the latest ETH to AUD rates on this page to make well-informed decisions on embracing Ethereum for your financial endeavours.

Table of Contents

History of Ethereum

Ethereum is the second-best coin of the Crypto market after Bitcoin in terms of value and market capitalization. But it is at the first position compared to Bitcoin in terms of features. Ethereum uses less energy, processes transactions faster, and has more business applications.

Many other coins run under Ethereum’s platform, which was launched in the year 2015. Developers are working on the latest version of Ethereum, also known as Eth 2. It will process more transactions in a second, consume less energy, and have a lot of enhanced security.

Investing in Bitcoin depends on your strategy and priorities, but we have listed a few reasons that make Ethereum different from others.

Many things run under Ethereum

Ethereum leads a lot of exciting apps of blockchain technology. It is designed so that it can help run smart contracts and create new coins. Nowadays, it is also important to have Ethereum to trade on some platform or buy NFTs. It is said that Ethereum will rise high in the sky in the next few years.

ETH2

It is claimed that the updated version of Ethereum will be more beneficial. To confirm and validate a transaction, Cryptocurrencies use the PoW model, which takes a lot of energy. Bitcoin uses 130 terawatt-hours of energy every year.

Eth 2 will shift from the costly carbon PoW to a more energy-efficient proof-of-stake model. We won’t explain the technical fact here, but it is said that the new version will cut its energy by 99%.

The Bottom Line

We have mentioned a few interesting facts about Ethereum. Professionals claim that Ethereum is going to give great competition to Bitcoin. However, as everything has disadvantages, so does Ethereum.

Ethereum is not the only coin to offer a smart contract. Few other coins are Neo, Cardano, Vechain, and EOS. So, to perform well and maintain stability in the market, the developers have to add on some points that will make Ethereum different and unique from all other coins. If you are looking for a coin to invest in for the long run, then Ethereum is the perfect one.

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