Bitcoinist.net · March 14, 2018 · 3:00 am
Though Bitcoin has garnered significant mainstream media attention over the past few months, Ethereum might become the cryptocurrency at the top of the heap in 2018.
CryptoDaily predicts that Ethereum’s value could exceed Bitcoin’s as early as 2018. The moment when a non-Bitcoin cryptocurrency surpasses Bitcoin’s value is popularly known in cryptocurrency circles as “The Flippening,” an event so anticipated that Flippening Watch is devoted purely to tracking its progress.
Ethereum has already experienced a higher number of transactions over 24 hours, higher 24-hour mining rewards, and a greater number of nodes. While its market cap, overall trading volume, and Google Trends measurements still lag behind Bitcoin, it seems clear that Ethereum is still on the rise.
Why is Ethereum approaching Bitcoin, which is often thought of in the popular imagination as the end-all and be-all of cryptocurrency? Ironically, Bitcoin’s popularity might be contributing to its demise: as more and more people start using it outside of the cryptocurrency community, transaction fees get higher (hitting an average of $28 in late 2017) and transaction times get longer. Higher usage is throwing Bitcoin’s scalability issues into sharp relief.
Launched in 2015, Ethereum is a blockchain-based platform that enables the construction of complex Smart Contracts and Distributed Applications (DApps). The platform runs on Ether tokens, which