My main concern with a lot of cryptos is utility. In contrast to the fiat currencies like the euro or dollar, many cryptocurrencies have very little practical uses. Yes, you could make purchases and also transact in some types of investments, although it is easier just to pull out a credit card and slap it down in front of the cashier, or input your credit card digits online.
But there’s one cryptocurrency I have added to my portfolio that has a practical, solid use and also serves as a native currency of the system that has promised to continue blazing a trail straight through the forest of the next-generation of finance: Ethereum (ETH). Here is why I am bullish on this popular altcoin.
One of the most exciting developments that cryptocurrency has created is the decentralized app, and the first ever public blockchain to provide this was ETH.
DApps are smaller programs disbursed across a large network of computers that can self-execute when specific conditions have been met. The ETH blockchain has gained early renown for being a popular platform for many dApps, and it still holds that distinction today.
Not all dApps are useful, attractive or profitable — just like any other collection of software you use. But there are already a lot that have been attached to the ETH blockchain, and as we start to push deeper into our crypto future some are certain to stand the test of time.
Some caution is definitely warranted with ETH. The blockchain has received plenty of complaints for its lack of speed; it has been clocked at an avg. of 14 transactions each second or so, although the peak hours of use see that number drop significantly.
That compares extremely unfavorably to many peers, mainly the 50,000 TPS that seems to be the speed limit of its arch rival Solana, or even the 250 Transactions per second of other would-be “Ethereum killers,” Cardano.
But I do not think ETH will be stuck in the slow lane a lot longer. One of its best advantages is that it has a ton of developers that are positively dwarfing any competition out there.