Goldman Sachs: Ethereum Could Take Over Bitcoin and Become The New Store of Value

While writing on Tuesday to its clients, Goldman Sachs mentioned Ethereum as the blockchain having the highest recorded real use cases. The firm also suggested that Ethereum may dominate the digital store soon.

According to Goldman Sachs most people now prefer using Ethereum’s smart contracts due to ETH’s increasing popularity. This situation may lead to Ethereum overtaking Bitcoin soon to become the first crypto on market cap.

Goldman Sachs gave predictions on both Ethereum and Bitcoin. According to them Ether’s (ETH) total market cap might overtake Bitcoin (BTC) in few more years.

Ethereum has become the most popular and used development platform, says Goldman Sachs. ETH has the highest recorded ‘real use-case’ among all smart contract applications.

A Smart Contract is a software program that runs on the Ethereum blockchain. It enables digital contracts to be executed automatically a powered by both DeFi protocols and Dapps. They comprise data and execute a transaction once it is initiated.

According Goldman Sachs analysts Bitcoin gained a stronger brand name because of its first move. However, digital crypto users believe it is lagging in its transaction speed and does not have use cases like Ether.

While Bitcoin handles 7 transactions in a second, Ethereum handles 15-20 transactions within the same time frame.

Bitcoin is yet to offer a high level of functionality similar to Ethereum because it presently focuses on network security and hard money.

Could Ethereum Surpass Bitcoin?

Read the full article at Fintechs.fi

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.