BITCOIN’S SUPER RIVAL AND HOW IT COMPARES
Bitcoin does have a super rival that has been around for a while.
This altcoin was a crowdfunded project that launched back in 2015.
This rival is both a crypto platform as well as a programming tool. The programming tool is called Solidarity and it is open-source.
Bitcoin is limited to 21 million coins in circulation. Its rival doesn’t have a cap, but only 18 million can be mined annually.
This rival hosts a majority of ICO or Initial Coin Offerings, similar to an IPO for companies entering the financial markets.
This rival is called Ethereum.
As of today, Bitcoin is valued at 40,000 USD and Ethereum is under 3,000 USD (the currency is Ether).
Similarities between Bitcoin and Ethereum
They are both types of cryptocurrencies. Ethereum emerged from blockchain technology to facilitate and support smart contracts.
Ethereum is also mined like Bitcoin. Ethereum can be mined at a faster rate. Both used Proof of Work to attract miners. Presently, Proof of Stake in an algorithm called Casper, is taking over the Ethereum mining process.
Ethereum is backed by a currency called Ether that can be traded in markets like Bitcoin…
