Cryptocurrency prices for September 3: Bitcoin loses positions after a period of growth

While many experts discuss the topic of the price of Bitcoin in the future it seems that digital currency no. 2 in the world not enough attention is given. Let's take a closer look at the prospects that could be expected for Ethereum.

First of all, we need to clarify something. Since there is an Ethereum network and the cryptocurrency Ethereum we will refer to this last concept today. Not that this is out of the question, we consider the most probable reasons why the price of Ethereum begins to fall:

  • insufficient scalability
  • insufficient security
  • insufficient competitiveness

It makes no sense so far, does it? Let's take an example to make it more understandable. Ethereum Protocol is a huge platform that all decentralized apps can use. To do this, obviously, they need to "pay the rent", and this rent is obviously paid in the Ethereum.

Suppose we launch our SharkCoin platform on the Ethereum network. We will conduct thousands of transactions and transactions that will have to be paid to ETH. In addition to commissions, it will cause security risks, involvement of intermediaries, price jumps, etc. We will naturally try to avoid this scenario. As?

Everything is quite simple. We will try to pay for transactions in our SharkCoin. The coins will be transferred directly to the portfolios of the miners who make a transaction. This will be beneficial for both parties, miners will also be exempt from the need to pay ETH commission commissions.

In financial circles this term is called the abstraction of Ethereum. If more and more projects begin to make sense in choosing a non-Ethereum way of development, Vitalik Buterin will have every reason to worry about his "progeny".

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