While bitcoin is the frontier and leading digital currency in the crypto market, the co-founder of Reddit – Alexis Ohanian thinks Ethereum (which is the second most valuable digital currency by market capitalization) will do better.
Ohanian said Ethereum will do better in the coming month, and hence, it will be the real winner in the crypto industry.
Ohanian’s investment in Crypto Firms
Ohanian said he is most bullish about Ethereum just because people are building on the platform. He has even stepped back from the day to day operations of Reddit, and now he is investing in crypto firms including Coinbase through his Initialized Capital (a venture capital firm).
Why the Value of Ethereum Will Rise Faster This Year
Ohanian said the value of Ethereum will rise faster than that of bitcoin this year because developers are finding it very difficult to build apps based on the bitcoin blockchain, but they find it much easier and flexible to build apps on the Ethereum blockchain.
Mr. Ohanian predicted that while bitcoin’s value will most likely double by the end of 2018 – getting back to its all-time high of $20k – the value of Ethereum will increase by 21 times, hitting the $15k mark by the end of this year. The current value of bitcoin is around $9k, while Ethereum is trading around $690.
What Ethereum Has Been Used to Develop
Ethereum has been used to develop apps such as CryptoKitties – a game that is based on Ethereum blockchain that allows users to breed virtual cats. Some major organizations including J.P. Morgan (a banking giant) have tested Ethereum-based technology.
However, Ethereum has its rivals when it comes to developers looking for blockchains on which they can develop their own apps.
One of those rivals is Hyperledger – whose open sourced blockchain framework has been used for lucrative projects, including TrustChain.