Transaction times are much faster when compared to Bitcoin, and Ethereum provides access to a number of decentralised apps (dApps), enabling developers to create new online tools.
Progress within the retail sector for Ethereum was shown in March 2021 when Christie’s became the first ever auction house to accept Ethereum as payment for a work of art.
The piece called ‘Everydays: The First 5000 Days’ was sold for a purchase price equivalent to $69.3million (£49.5million).
According to one expert, all of Ethereum’s advantages will likely put it ahead of Bitcoin, dubbing the new alt coin as a “powerhouse”.
Crypto expert Adam Morris, co-founder of Crypto Head, told Express.co.uk: “It’s likely that Ethereum will keep rising and if history repeats itself, we’ll probably see it at an all-time high towards the end of the year.