Thousands of headlines have been published over the past couple of months claiming that Ethereum or some other crypto coin will surpass Bitcoin. Even though Ethereum is the second-largest cryptocurrency in the world based on market capitalization, it still has a long way to go before it outcompetes the first mover’s advantage and Bitcoin maximalists.
On the off chance that it does eventually happen, then the people who predicted The Flippening are going to be treated like prophets. However, most people that are attempting to pick a side in that dispute are not familiar with the philosophical underpinnings of either project. You can visit coingecko.com to read more.
Briefly stated, Bitcoin is the ultimate form of money that exists on the planet. Its sole purpose is to function as money and be the resource that gets used to send anonymous transactions from one location to another without any third parties along the way.
The concept is simple, but the math behind it is tough. Ethereum, however, is a completely different beast on its own. It’s a platform for making decentralized apps. Again, it sounds simple, but it’s extremely complicated to pull off. The best way to think about these projects is this. Bitcoin SV is digital gold that you can send to anyone, just as if you were putting it in their hands.
Ethereum is the Android or iOS on your phone. It’s the glue that helps all of the other applications work. Most of the forks that exist nowadays have been pulled from Ethereum, which is why there are so many Layer 2 solutions based on it. Another important distinction between the two is their consensus mechanism. Click on this link to find out more info.
Bitcoin is always going to be based on a proof-of-work concept, while Ethereum is scaling into a more environmentally friendly proof-of-stake mechanism. Finally, the thing that sets them apart is the number of coins that can be minted on the blockchain.
There’s an infinite number of Ether that can be produced, but there are only going to be 21 million Bitcoins. As we can see, there are a lot of differences, but the thing that connects these two technologies together is the concept of the blockchain.
Is it possible for Bitcoin to be surpassed by PKT Cash?
Comparing apples to oranges doesn’t benefit anyone since both fruits have their own target customers. If someone likes apples, that doesn’t mean that they hate oranges or the other way around. Comparing PKT Cash to Bitcoin is not the right question to ask since the two initiatives are diametrically opposed to one another.
Bitcoin wants to be the ultimate payment method in the world, while PKT cash aims to eliminate the need for traditional internet service providers. At the moment, large ISPs are in command of the entire internet. Follow this page to find additional info https://www.reuters.com/technology/how-crypto-giant-binance-built-ties-russian-fsb-linked-agency-2022-04-22/.
In the past decade, a lot of changes happened in the telecommunications sector. First of all, unlimited calls and text messages were impossible. If you wanted to talk to someone over the phone, you had to pay for the service per minute. The same thing goes for text messages.
The rationale behind that wasn’t compelling then, and ISPs are lucky that a lot of people don’t set out to calculate just how much money they’ve used on that. Luckily, internet-based platforms such as WhatsApp, Viber, and Messenger entered the market, which forced ISPs to eliminate their prices and make everything free of charge for one bundled package.
This is what motivated the founders of PKT Cash to start the project. When the services were already placed and in service to be provided absolutely free of charge, what was the point of so many individuals paying for those minutes and text messages?
At the end of the day, ISPs are extremely picky in their rates and services, and they also force you to sign an agreement that they could deny your service if they think you’re doing something suspicious. Projects like PKT Pal online will never do such a thing. For example, if you haven’t been watching movies for a while and decide to do a marathon for one day, you’ll notice that your bandwidth will start to slow down.
If it doesn’t happen in a day, try doing it once or twice a week. The ISPs might even reach out to you directly if you’re using a VPN to ask you whether you’re pirating or illegally streaming content. That’s not the type of control that you’ve agreed to right at the start. An easy way to see this is if you install a tracker that monitors how much bandwidth you’re regularly using.
Despite the promise of free internet and doing whatever you want, the truth is completely different. PKT aims to use existing data and bandwidth, create a new network, and use it in the future. Being completely independent of third-party platforms such as internet service providers and coinmarketcap is the only way to experience free speech.
Censorship will become a thing of the past if there are enough people to create a completely decentralized environment. These are all of the reasons why comparing PKT to Bitcoin doesn’t make a lot of sense. The only comparison could be their price, which is totally determined by the free market.
Adding projects that you genuinely believe in in your crypto portfolio is an excellent way to increase your exposure to risk and mass profits. As a traditional investor, you might miss the feeling of one of your assets dropping more than 30 percent in a day only to recover with a 50 percent spike a week after.