The resurgent performance of Bitcoin Cash (BCH) may have emboldened the crypto’s community to the point of focusing on outperforming BTC this year. That isn’t likely to happen any time soon, and even more interestingly Ethereum (ETH) is the one set to outperform BCH in 2018.
Bitcoin Cash stormed to a really spectacular performance in Q1 of this year. Its price raced past that of Ether and has held since. Recent positive events in the crypto’s adoption race have reinforced a feeling that it could hit higher prices than the $1838 it hit earlier in the year. On the other hand, Ether has had a rough 2018 so far, reaching lower prices of about $500. However, the tide will soon change and the 2nd largest coin by market cap will reach new high prices to beat Bitcoin Cash.
Here are some of the reasons that put Ethereum on course to upstage BCH.
Ethereum use cases trump Bitcoin Cash
Ethereum is the undisputed king of dApps and smart contracts and no other platform has the potential it commands. Even with newer blockchain projects coming up, Ether still leads in this aspect. Almost everything that can be deployed in a smart contract and dApps can be built on the Ethereum network. We will continue to see sectors like shipping, logistics; supply chains, banking, file storage, and energy rely on Ethereum. The trust in the platform is further enhanced by its established reputation. Bitcoin Cash is trying to gain an inroad in this sector, but an explosion of activity on Ethereum will drive demand for ether and thus value.
Partnerships and the Enterprise Ethereum Alliance
Ethereum is backed by some big shot firms and individuals around the world. Bitcoin Cash has lately forged some partnerships, including the initiative by BitcoinCashers.org. However, ethereum dwarfs these efforts.
The Enterprise Ethereum Alliance has brought together Fortune 500 enterprises, global start-ups, academic institutions, governments, merchants. All these have one initiative under the EEA umbrella- to facilitate the growth and adoption of Ethereum projects.
There are more than 90 firms in this group, including JP Morgan, BP, Microsoft, Credit Suisse, Intel, and Santander. Endorsements by these big movers have all given the platform a boost and more demand for the coin.
Bitcoin Cash may have had the initiative, but the momentum will be with Ethereum once the market recovers.
Implementation of Casper and Sharding
Ethereum has been criticized at some point of being too slow and expensive. The negativity associated with these issues will soon come to an end with Casper and then sharding being implemented before the end of Q3. These solutions will make the network improve its scalability and lower transaction costs.
Bitcoin Cash is too looking to reel in more developers and users by having fees lowered to zero. That is dependent on the miners. Even if that were to happen, BCH will not generate as much interest as Ethereum after sharding and Casper.
The Ethereum network will handle even higher transaction volumes than now, which is twice as much as BCH. Demand for ether will be higher and prices could rally past those of BCH.
Popularity and success of Ethereum-based projects
Ethereum is already very popular after becoming so successful in 2017 with the ICO boom. That reputation is being enhanced by the performance of ERC-20 projects in 2018. These very popular projects include Golem, which seeks to provide a platform for sharing computer power.
These and many more have continued and will continue to drive demand for ETH. Hundreds more will be built and deployed making Ethereum continue the dominance it has had. Many of the ERC-20 projects will also likely end up being listed on Coinbase soon. If that happens, I see Ether getting a nitro-boost. The result is that ETH prices will surge substantially.
Ethereum (ETH) may have had a tough 2018 so far, but with support from EEA and companies like JP Morgan and Microsoft mean it has potential. The shift in sentiment and a possible explosion of ethereum-based projects will drive value higher. Bitcoin Cash (BCH) may hit a new high, but ETH will be on top by the end of 2018.