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The Battle Between Ethereum And Bitcoin, As BTC Leads The Crypto Race



The Battle Between Ethereum And Bitcoin, As BTC Leads The Crypto Race

The battle between Bitcoin and Ethereum has been the main issue for more than a year now. As Cryptocurrency predictors make their predictions, some of their predictions coming to past others backsliding, as usual, it is normal as long as Cryptocurrency trading is a concern.

These two Cryptocurrency (Bitcoin and Ethereum) are the most widely used and discussed Cryptocurrencies in the trading market. Aside from that, the technology behind each is extremely powerful even as they lead the crypto trading.

But the question is, among these two who is the king and the leader in the crypto race. In 2008 Bitcoin was introduced into the world of trading by Satoshi Nakamoto which is a public peer to peer electronic cash with a blockchain technology which exsiccates all transactions.

The blockchain is a ledger that records and stores all transactions. Bitcoin miners are important in the sense that they are always available to confirm all transactions to other networks by adding them to the blockchain which is important for the Bitcoin blockchain. Once a transaction is made and added to a miners blockchain it cannot be reversed or traced which makes it unique and special.

In 2015, Ethereum was launched as open software. It is the largest decentralized platform till now which has led to the design of dApps and smart contracts.

Ethereum, on the other hand, serves as a platform that runs a smart contract. It is not just a currency but a platform with Ether as its digital currency. They are applications that run as programmed without any difficulties (the interference of third party or fraud). This makes the fundamental difference between Ethereum and Bitcoin.

Blockchain technology is the main core for Ethereum and Bitcoin. But their algorithm consensus makes the difference. Even though Ethereum has faster block time than that of Bitcoin.

According to BitInfoCharts, Bitcoin Block time is more than 8 minutes and that of Ethereum is 25 seconds. Isn’t that amazing for Ethereum speculators?. Bitcoin and Ethereum have been battling for some time now especially in the area of Cryptocurrency trading (buying and selling). Bitcoin outperforms the substantiality of Ethereum since the introduction of Cryptocurrencies in the trading market.

The price of Bitcoin is around $5000 in 2019 for the first time, bitcoin was around $900 in 2017. And has increased 5.5x its price level. Therefore, increasing the price and making it a leader of all Cryptocurrencies in terms of trading.

The price of Ethereum is around $ 160 this year, it started at just $10 at the beginning of 2017. Now the price has increased 16x. Which shows a higher increase compared to Bitcoin.

It is clearly seen that Ethereum and Bitcoin have been battling since ages. Where the two are known to be the largest digital currency so far. It is known that Ethereum has more failures in relation to consensus than bitcoin and also has more downtime than bitcoin.

Bitcoin will always lead the Cryptocurrency race as long as crypto trading is concerned.


Cardano’s Charles Hoskinson wants to work with Elon Musk to develop a decentralized social media platform



Cardano's Charles Hoskinson wants to work with Elon Musk to develop a Decentralized social media platform

The Founder of Cardano (ADA) has invited Tesla owner and billionaire, Elon Musk, to work with him in developing the first decentralized social media platform. Charles Hoskinson, who also doubles up as the CEO of Input-Output Global is offering to help Elon Musk achieve his goal of free speech on social media.

The news follows Elon Musk’s acquisition of a stake in Twitter last week. The Billionaire bought 9.2% of Twitter, estimated at $2.89 Billion, and was even offered a seat on the micro-blogging site’s board. However, after deliberations, Elon passed on the offer since it would bar him from owning beyond a certain threshold of Twitter’s shares.

Free speech advocate

Elon Musk is on record for being a passionate supporter of free speech and open internet policies. He has in the past openly accused Twitter of muzzling free speech and open internet use. He recently held a poll that indicated that most users would prefer an edit button on Twitter and said that if he is not allowed to acquire the platform, he would have to reconsider his position as a major shareholder of Twitter.

To actualize this cause, he has offered to acquire the platform for a reported fee of $43 Billion in cash. This intended acquisition has left his critics and supporters talking and would go a long way in helping him bring much-needed changes to Twitter. His intention has however come under fire with his critics, including Dogecoin co-founder, Jackson Palmer saying that Elon Musk is planning a hostile takeover of Twitter. 

Hoskinson’s offer to Elon Musk

Upon seeing the opposition against Elon Musk’s plan, Hoskinson wooed Elon to join him in creating a decentralized social media platform. He tweeted:

“@Elon if Twitter rejects your offer, then hit me up. Happy to build a decentralized one.”

This offer follows Elon Musk’s Twitter poll where he sought the opinion of his 80 million followers about a decentralized social media platform. He posited that were he to be barred from acquiring Twitter, he would establish his decentralized platform that would be founded on free speech and open internet.

Elon Musk’s campaign for free speech and open internet has not been welcomed by all. Some of his critics have argued that coating his move with good intentions, his true intention is to get revenge against the SEC for muzzling his Twitter activities.

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Thailand Outlaws The Use Of Crypto For Payments



Thailand Outlaws The Use Of Crypto For Payments
  • The SEC in Thailand has banned crypto payments in the country.
  • Its new decision is expected to become enforceable in April.
  • The SEC reiterated that the government still maintained support for the blockchain industry, clarifying that the decision does not affect crypto investments.

The Securities Exchange Commission today has placed restrictions on crypto as a means of payment. They believe that it poses risks to the nation’s financial stability.

Crypto Payments Outlawed

Thailand’s SEC today has outlawed the use of crypto as a medium of exchange in the country. The regulators came up with this decision after discussing the benefits and inherent risks from crypto and blockchain technology with the country’s central bank, the Bank of Thailand (BOT).

They concluded that the use of cryptocurrencies for payment was potentially harmful to the country’s financial stability and economy. Price volatility, risks of theft, and potential use cases in money laundering were amongst the reasons cited by the SEC that led them to this decision.

The SEC report read, “the use of digital assets as a medium for payment of goods and services Because it may affect the stability of the financial system and the overall economy. including risks to people and businesses such as the risk of loss of value caused by price volatility Risk of Cyber ​​Theft Risk of personal data leakage or being used as a tool of money laundering.”

As per the SEC’s new decision, crypto service providers and vendors or merchants in the country are encouraged to stop providing or facilitating such services. Suppose a crypto service provider discovers that a customer has used its services to make payments. In that case, the service providers are to inform the SEC and restrict activities on the said account.

The SEC’s new ruling is to take effect from the 1st of April. However, businesses that already offer such services would be given till the end of April to cease such operations. The crypto market in Thailand has grown massively over the last couple of years. As per a Bloomberg report, government data estimates that Thai citizens hold about $3.4 billion in crypto assets.

Crypto Investments Not Affected As The Thai Government Still Supports Blockchain Technology Innovation

The SEC in their release, clarified that the restriction was only on using cryptocurrency as a means of payment and in no way affected citizens investing in crypto. It was stated that “digital asset traders/investors can carry out normal investment/trading related transactions.”

The SEC also maintained that the government still supported blockchain technology and was working to provide a regulatory environment where innovation can be encouraged in the industry. Recall that earlier this month, the country had offered tax incentives to investors and businesses in the crypto industry.

“… the BOT and the SEC, as well as other government agencies, see the benefits of various technologies behind digital assets such as  blockchain and emphasize and support the use of technology to further innovation.”

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