Monday, Oct 03, 2022

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

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?

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