For as long as I can remember, Bitcoin has been my favorite cryptocurrency. For years I have been encouraging the adoption of cryptocurrencies and recommending Bitcoin specifically as the digital asset champion, and certainly not without reason. However, I have found myself favoring another cryptocurrency in the past months: Ethereum.
Bitcoin holds the company of the internet, automobiles, and the wheel as far as world-changing inventions go. It created the first-ever decentralized peer-to-peer electronic currency, but even more than that, it gave us the Blockchain. Without blockchain technology, no cryptocurrency would be possible. Furthermore, the Blockchain is becoming a fundamental technology in how we transact, run supply chains, share data, distribute ownership, play video games, etc.
Here are just a few of the services that run on Blockchain:
1. Payment processing and money transfers
2. Monitor supply chains
3. Retail loyalty rewards programs
4. Digital IDs
5. Data sharing
6. Copyright and royalty protection
7. Digital voting
8. Real estate, land, and auto title transfers
And at least 12 more, according to The Motley Fool.
Sidenote: if you want to understand these services better and read about them in full, I recommend this article, which is free, by The Motley Fool
Anything that can be built using a blockchain can be done on Ethereum. The largest and most influential DeFi projects are on Ethereum, including asset management tools such as Coinbase Wallet and MetaMask, Derivatives with Olympus DAO, and decentralized exchanges with Uniswap. If you are interested in seeing all the 215 DeFi applications on Ethereum, check out this link.
When you add this together with the ever-expanding applications of Blockchain, it brings Ethereum to the top of my list. It's that simple. Even so, this is not to cast bitcoin to the side. Bitcoin holds one of the essential attributes money can have: trust. For 11+ years, Bitcoin has done nothing but gain value as we hit new all-time highs in the 60K+ range.
They are both fantastic, but there is a new sheriff in town, and he goes by the trading name ETH!