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Ethereum to overtake bitcoin soon

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Well-known entrepreneur, co-founder, and former executive director of Guggenheim Partners Todd Morley bets on Ethereum. According to Morley, the cryptocurrency has more practical value than bitcoin in terms of smart contracts.

Morley’s statement is confirmed by the growing popularity of the so-called decentralized financing — the Ethereum-based technology that is widely used for recreating traditional financial instruments such as bank loans. Judging by the lively interest of users, blockchain protocols could replace the traditional structure of banking in the near future. On top of that, accelerated demand for non-fungible tokens (NFT) issued mainly on the Ethereum blockchain helps ether to compete with bitcoin.

Todd Morley is not the only one who believes in the superiority of Ethereum. In their regular survey, Goldman Sachs analysts have also noted that "ether has a high chance of overtaking bitcoin as a dominant store of value." Billionaire Mark Cuban shares the same point of view. He said that Ethereum's long-awaited 2.0 upgrade would spark the development of apps that "dwarf" bitcoin.

Moore’s law also stands with Ethereum. According to this empirical rule, the speed of computing, and hence computer performance, doubles every two years. The number of Ethereum developers has increased 20 times in six consecutive years, which is even faster than Moore’s law.

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