by William P with cryptoanalyst.co
Collegiate for some and bitter for others, the sibling-esque rivalry between Bitcoin and Ethereum is surely only just beginning.
Now that Ethereum’s reaching all-time transaction highs of 540,000 transactions per day, though, the current #2 crypto enterprise has notched an impressive win over its older cousin Bitcoin, almost doubling BTC’s volume of 323,000 daily transactions.
And while the die will continue to be cast, and this transaction dynamic may in time be reversed again, it’s certainly beyond mere promising news that the platform is now being used more on a daily basis than Bitcoin, as BTC’s enjoyed ultimate first-mover status hitherto.
Indeed, Ethereum’s now performing nearly 2 transactions for every 1 bitcoin transaction. In the years ahead, will it be 2 orders of magnitude more? 200? Beyond? Maybe not, but for those milestones to be reached, Ethereum must come out ahead first, which it’s now done.
As the Chinese proverb goes, the journey of a thousand miles begins with a single step.
Indeed, seeing such a milestone reached is a bit of a schizophrenic experience for Ethereum enthusiasts: it’s hindsight and foresight all at once.
Hindsight, as you recognize that the Byzantium update’s been a great success and that Eth’s developers have been excellent stewards. And, of course, Devcon3 is right around the corner.
Foresight, because you know that future amazing milestones will be notched on the backs of the milestones of today—milestones like almost doubling BTC’s daily transactions.
With the ongoing, incredibly contentious SegWit2x debate in the Bitcoin community, BTC’s future is cloudier than ever—there’s just no telling what will happen.
Ethereum’s future, conversely, is brighter than ever. And that’s a dynamic that doesn’t look like it’ll change any time soon.
Copyright © 2018