Watch out Bitcoin, here comes Ethereum

Bitcoin could lose up to half of its market share within the next five years to Ethereum, the world’s second most popular digital token. That’s the view of Thomas Crown Art’s Ian McLeod. But why would Ethereum outgrow Bitcoin?

In an Expert Insight piece for Coin Rivet, which lands on our site later today, he writes: “The crypto market itself will inevitably expand, as adoption becomes more and more widespread due to growing awareness of their power and value. But it is Ethereum that can be expected to grow at a quicker pace.”

“This is because whilst the whole crypto sector has been impacted in recent months by a bearish sentiment, it has been Ethereum that has been hit perhaps disproportionately in this regard, compared to other digital coins.”

But as sentiment is now reversing and becoming noticeably more bullish, it is likely that Ethereum will experience a comparatively stronger rally than its rivals, he believes. Then there is the fact that it is almost universally recognised that Ethereum runs on significantly better technology than Bitcoin.

“This superior tech underpinning Ethereum results in more uses and solutions for businesses and is, therefore, considerably more attractive to institutional investors than the current market leader,” says McLeod.

Also backing Ethereum

FinTech heavyweight, Chris Skinner, recently told Coin Rivet that Bitcoin won’t succeed “because it wasn’t designed for the scale and needs of global currency”.

He’s a firm believer in the futureproofing of Ethereum, which came about as a bid to rewrite Bitcoin and eliminate some of the glitches. “Ethereum is tamper proof and much more robust,” he said. “The whitepaper of 2008 never mentions blockchain. Ethereum addresses this issue and it is backed by Microsoft.”