Ethereum Is Called A Leader In Cryptocurrency Adoption

Ethereum. (Photo; Doc. Unsplash)

JAKARTA - Ethereum has managed to occupy the second largest position after Bitcoin. In addition to a significant market cap, Ethereum is also known for its widespread utility in the crypto space. Roger Ver, a Bitcoin Cash (BCH) supporter and also early Bitcoin (BTC) investor, outlines Ethereum's role as a driver of global cryptocurrency adoption, as well as innovations and conflicts that shape the journey of this project.

Ver stressed that while Ethereum does not have a market capitalization of Bitcoin, it sees Ethereum as a leader in driving cryptocurrency adoption around the world. According to Ver, the Ethereum ecosystem, especially with innovations like NFT, has taken an important role in expanding the use of cryptocurrencies.

Despite Ethereum facing the problem of scaling, Ver noted that the presence of an EVM-compatible blockchain (Ethereum Virtual Machine) could help reduce the burden of the main chain. He also gave appreciation to Ethereum co-founder Vitalik Buterin for his leadership role in developing this project to what it is today.

Ethereum's origin was triggered by Buterin's awareness that Bitcoin does not meet the functionality it envisions, such as smart contracts and DAO (Decentralized Autonomous Organization). The difference in views between Buterin and some Bitcoin developers about the future direction of this digital currency leads to conflict. As a result, Buterin decided to build Ethereum as a platform that could realize his ideas.

Roger Ver sees Ethereum as a missed opportunity for Bitcoin. According to him, if nothing "scaling civil war" does occur, the innovations in Ethereum today may have become part of Bitcoin. Ver thanked Vitalik Buterin for his contribution to encouraging widespread adoption of cryptocurrencies and advancing the world to a better future.