Are BTC and ETH competitors?

These differences set them apart and have led to various debates in which some argue BTC and ETH are competitors. In reality, they may complement each other because they serve different purposes. BTC may be used as a store of value, while ETH is used to interact with applications built on the Ethereum blockchain.

What is the difference between BTC and ETH?

Both BTC and ETH are decentralized cryptocurrencies, meaning they are not issued or regulated by central banks or other financial authorities. Instead, they rely on computers running copies of their networks, known as nodes, to ensure every network participant is on the same page. There are notably crucial differences between both cryptocurrencies.

Will ETH outperform BTC in 2024?

It will introduce so-called ‘proto-danksharding,’ an innovation that will finally enable ETH to scale from fifteen transactions per second to hundreds. Analysts at JPMorgan forecasted in December that this upgrade will lead ETH to outperform BTC in 2024, although perhaps it wasn’t anticipated to be quite this early in the year.