About a week ago, Ethereum’s market cap reached half of BitCoin’s. Today, the Ethercoin price reached $407.10.
What the data shows is that Ethereum has grown over 5000%. This is crazy.
What is happening?
The cryptocurrency industry is preparing and anticipating for the “flipenning” or in other terms Ethereum surpassing the market of Bitcoin.
As of right now, it is about 10 billion away for reaching that goal.
What is Ethereum or Ethercoin?
So far, all you have read is the possibility of something passing the market cap of the BitCoin, but haven’t learned what it is. Well, Ether is the name of the currency that runs on Ethereum block-chain.
This all seems normal, so why is ether growing so fast when compared to the bitcoin?
Well Ethereum is designed to support smart contract applications. Applications that automatically execute terms of a contract if conditions are met are called smart contract applications.
This is one reason among many that has excited investors.
Some others reasons include:
- Great infrastructure
- Extremely flexible when compared to the Bitcoin
What does this mean for the future?
If Ethereum’s market cap surpasses that of Bitcoins this will be a break through. The cryptocurrency industry will have two large block chain networks, which may possibly lead to many countries adopting a system that will digitize the national currency.
Whatever happens, Ethereum has already become popular to the point, it is sure to grow. It is important to note however, that if Ethereum did surpass the market cap of Bitcoin investors should not consider it as a better network or vise versa.
These two block-chain networks are here to stay now. They both offer unique features and infrastructures that will always be sough by the market.