Ethereum: Crypto’s ‘dark horse’

Ethereum: Crypto’s ‘dark horse’

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Bitcoin, a digital or virtual currency created in 2009 is without question the most important cryptocurrency. However, there are other cryptocurrencies that have performed better than the king of crpto in the last one year. Notable among them is the second most popular and largest digital currency, Ethereum. Launched in 2015, it enables SmartContracts and Distributed Applications (DApps) to be built and run without any downtime, fraud, control or interference from a third party.

Ethereum has seen impressive growth since the beginning of the year. While bitcoin has delivered 98% return to investors in the last one year, ethereum delivered about 175% profit. Ethereum’s booming trend also saw its combined value of all its coins in circulation spike at $53.bn in September, a 102% jump in three months.

Data presented by AksejeBloggen.com has also revealed that Ethereum was the most traded crptocurrency in the third quarter of 2020, with 1.1 million average daily transactions, 3.5 times more than Bitcoin. Also, CoinMetrics Data also showed that Ethereum transactions per day increased by 610, 00 between June and September, a 131% jump in three months. About 319,000 daily average transactions were witnessed with Bitcoin. Litecoin ranked third with 56,000 average transactions per day in this period. Dash, Bitcoin Cash and Monero followed with 25,100, 17,200 and 12,000 daily transactions, respectively.

Credit: iol.co.za – Ethereum growth: why it’s the perfect time to enter the crypto world

Tosin 'Badeniyi, PhD

Tosin 'Badeniyi, PhD

Tosin ‘Badeniyi, a Professor at the Department of Biotechnology and Food Science at Durban University of Technology, South Africa, holds a doctoral degree in Food Science from University of Pretoria South Africa. Since 2001, he has conducted research and lectured internationally in the area of food quality and safety. He is the editor of Food Science and Technology: Trends and Future Prospects and has published numerous scientific publications as well as four inspirational books.

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