siliconindia | | SEPTEMBER 20229Bitcoin and Ethereum. Some parts of the world use Bitcoin to exchange goods and services. Bitcoin has been embraced as legal tender in El Salvador, for instance. This has been scrutinized because Bitcoin's volatility can challenge the local population that utilizes it for transactions. Ethereum's transactions are not monetary; instead, a collection of codes or smart contracts is implemented on the network. The smart contracts are the building blocks of Ethereum applications. Crypto investors generally hold both Bitcoin and Ethereum, given their more robust fundamentals and longer track records compared with other cryptocurrencies. Although they have diverse roles, most analysts confirm that both will have a leading position in the crypto market for the predictable future. Buterin cited this issue in the white paper itself. "Like Bitcoin, Ethereum suffers from the flaw that every transaction needs to be processed by every node in the network", the white paper stated. Maharajan declared this is a highly inefficient system and can challenge businesses or projects that depend on the blockchain. Yet, he further said that blockchain is an evolving technology, and developers are working on advancements.What should investors drive at?Industry players believe that Ether was never intended to compete with Bitcoin. Regardless, it grew in popularity because of its use in diverse, decentralized applications. "Ether should overtake Bitcoin soon based on its flexibility and versatility alone", Maharajan stated. The crypto market is patiently awaiting the launch of Ethereum 2.0, a more energy-efficient and cost-effective model that operates the proof-of-stake, or PoS, protocol rather than PoW. The transition to PoS will permit the network to support more transactions per second to make the network more scalable. Eloisa Marchesoni, a crypto entrepreneur and public speaker, states that "The blockchain behind the second-largest cryptocurrency, Ether, will soon undergo a highly anticipated upgrade that may lead to more institutional investors putting money in the network and help lift Ether's price". While Bitcoin today is the largest crypto by market value, Marchesoni further said, Ether could evolve into the leader after its infrastructure upgrade, also known as the `Merge', marking the end of the proof-of-work for Ethereum. Computer programmer Vitalik Buterin designed Ethereum, which utilizes blockchain for building applications that could facilitate secure property transactions or convenient royalty payments to artists
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