Home » Cryptocurrencies, because ethereum is making bitcoin’s performance pale

Cryptocurrencies, because ethereum is making bitcoin’s performance pale

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To the automated and decentralized transactions of a traditional cryptocurrency, etehreum also enables the connection to “smart contracts” that trigger transactions when certain conditions are met.

Thanks to this feature it is therefore used primarily by decentralized finance platforms that are growing exponentially, now exceeding 100 billion dollars of assets.

The boom of non-fungible tokens

At the same time, the entire mechanism of NFT, the non-fungible tokens that are raging in the digital art market as well as in a series of other fields ranging from music to publishing, from entertainment to collectibles to decentralized finance itself, use very widely majority smart contracts based on ethereum.

Even a historic name like Christie’s auction house debuted this year in the world of cryptocurrencies by accepting ethereum as payment for a work of art by the artist known as Beeple, sold for over $ 69 million and paid for in ethereum. .

As always, bubble risk is always around the corner when it comes to cryptocurrencies. NFTs themselves are now used as a pure marketing tool and overrated. So also ethereum, as a result, could deflate even faster than it inflated.

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