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dracula

@draculalover

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320 $degen
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Ethereum, on the other hand, intends to overtake our current internet infrastructure.
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It’s a PoW network that’s struggling to scale, leading some to believe that it’s more of a store of value, similar to gold. Bitcoin also has a hard cap of 21 million coins, lending itself more to that argument.
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@draculalover
But Bitcoin has its limitations. It’s a PoW network that’s struggling to scale, leading some to believe that it’s more of a store of value, similar to gold.
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The former is meant to be digital money, and it serves that purpose reasonably well. But Bitcoin has its limitations.
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While Bitcoin is the most mainstream cryptocurrency, the Ethereum community has the ambition to expand the project.
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@draculalover
While Bitcoin is the most mainstream cryptocurrency, the Ethereum community has the ambition to expand the project.
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Ethereum vs. Bitcoin
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Miners assist in this by generating blocks by solving computationally challenging riddles, thereby safeguarding the network from attackers.
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Network participants must ensure that everyone agrees on sequencing transactions in decentralized systems like Ethereum.
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Ethereum miners are computers that run the software and use their time and processing power to process transactions and create blocks.
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Ethereum currently uses a proof-of-work blockchain but is moving to proof-of-stake (PoS) with Ethereum 2.0 for scalability purposes and a more environmentally friendly approach.
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The process of creating a block of transactions to be added to the Ethereum blockchain is referred to as mining.
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Ethereum Mining
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This is all managed autonomously through blockchain and smart contracts, with DeFi putting users more in control of their funds than ever before.
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There are prediction platforms that reward correct forecasts and freelance platforms that don’t take a huge cut of each payment.
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Games allow users to invest in assets, play to grow them and then sell for a profit, extracting actual value from their game time.
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Developers have built uncensorable social media apps, allowing users to tip one another for content.
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NFTs also represent usable items and accessories in online games. Players can decorate their houses and characters with unique assets from artists, providing yet another income stream for creatives.
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It’s the same reason that one would want the original “Mona Lisa” over just a copy, even if a copy is indistinguishable from the first.
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