Why Ethereum Can Overtake Bitcoin Soon — The Flippening!

Ethereum can overtake Bitcoin

If there were only two cryptocurrencies you’ve heard of, it would be a safe bet to say one is Bitcoin (BTC) and the other, Ethereum (ETH). Currently, Bitcoin is the market cap king, but it seems like things might change sooner than expected. Experts believe that Ethereum can overtake Bitcoin market cap in the coming time; this hypothetical event is commonly referred to as the ‘flippening’.

Even though Bitcoin is the most popular cryptocurrency (at least at the time of writing this), there’s a big bunch of Ethereum enthusiasts that believe that might not be the case for too much longer — and there might just be enough reason for that.

Lets explore reason why Ethereum has more than a real chance at overtaking Bitcoin as the most popular cryptocurrency.

Reasons why Ethereum can overtake Bitcoin

There are two main reasons why Ethereum is potentially stronger than Bitcoin. Lets have a look at them.

Reason #1: Ethereum will be more energy-efficient and faster after moving to a Proof-of-Stake model

Both Bitcoin and Ethereum use Proof-of-Work (PoW) systems to validate transactions where miners compete to solve complex puzzles. However, Ethereum will soon upgrade to a Proof-of-Stake system. Validators will need to put in a portion of their crypto holdings at stake to verify the transaction with PoS. Here, the more a miner stakes, the greater the reward is. 

At a stage where most people are moving towards sustainable goals, Ethereum is expected to use 99.95% less energy once it is fully upgraded to PoS. This reduces the utilization of energy and results in processing transactions faster and using lesser resources. This is one of the foremost reasons why Ethereum can overtake Bitcoin.

Reason #2: Ethereum has multiple use cases beyond just payments

Bitcoin, for now, is mainly seen as a store of value, and in some cases, a mode of payments. On the other hand, Ethereum provides a wider use case — across various industries. Ethereum can host smart contracts allowing individuals to perform transactions without any intermediary. These smart contracts also open new opportunities in the most prominent areas, such as DeFi and NFTs. If you are the one interested in NFT gaming check our article on NFT gaming tokens you should invest in.

Even though Ethereum is not the only network that hosts smart contracts, it is best known for DeFi and NFTs. When these applications become mainstream, Ethereum could still be in demand as it does not only exist for making payments. 

Also read interesting article on: Top Cryptocurrencies to Invest in April 2022

The Flippening: Summary

Ethereum processing transactions faster than Bitcoin now can give Ethereum a real chance at overtaking the Bitcoin market cap. With Ethereum increasing its use cases by the day, it stands a real chance at being a much more valued token. Besides, a lot of stablecoins use the Ethereum blockchain as well.

We cannot say when, but there seems to be enough reason backing the flippening taking place in the foreseeable future.

Latest stories

You might also like...