Foundation of Digital Currency
Bitcoin functions primarily as a digital store of value and payment system, aiming to become a decentralized alternative to traditional currency.
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Explore the fundamental distinctions between the two largest cryptocurrencies and understand their unique roles in the digital economy.
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Similar ideas to Foundation of Digital Currency
Why are cryptocurrencies so popular?
Some of the reasons:
- Some see cryptocurrencies such as Bitcoin as the currency of the future and are racing to buy them now, presumably before they become more valuable
- Some like the fact that cryptocurrency removes central banks from managing the money supply ...
On putting eggs in one basket
One of the more popular uses of Bitcoin is as a gold-like store of value over the long-run. Claims that Bitcoin may someday be valued as high as $100,000 per coin are based on this idea of the coin as "digital gold."
However, a number of studies have suggested that
Ethereum as electricity
If bitcoin is digital gold, Ethereum is alike the power grid, powering an ecosystem of worldwide decentralized applications.
The gas is the metering system for the consumed power. And ETH is the currency used to pay for running the software and maintaining the network.
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