Ethereum and Bitcoin are not competitors, they are both market leaders

There is indeed competition between Bitcoin and Ethereum, but this competition is not in the same niche. Contrary to what most people think, Ethereum and Bitcoin are not trying to achieve the same goals. Ethereum focuses on making blockchain more attractive to users, while Bitcoin is committed to changing the entire financial industry. Both are leaders in their respective niches, but they are not direct competitors.

Bitcoin and Ethereum are top predators

There is no doubt that both Bitcoin and Ethereum are leaders in the development of digital currency and blockchain technology. Investors in Bitcoin and Ethereum have also achieved great success in the past period of time, which is very beneficial to the further development of the ecosystems of the two in the future.

However, at the same time, many people tend to overlook the fact that Bitcoin is not Ethereum, and Ethereum is not Bitcoin. In the past seven years, many Bitcoin altcoins have emerged, but Ethereum is completely different from this, and it is not an altcoin.

Ethereum’s unwavering focus on blockchain technology and its own blockchain have made it even more appealing to businesses and consumers. The Ethereum blockchain also adds smart contracts — although smart contracts can also be used on Bitcoin — and the ability to create decentralized autonomous organizations, which makes Ethereum even more useful.

On the other hand, Bitcoin is attempting to disrupt the financial ecosystem, which is completely different from previous technologies. This digital currency is able to provide financial services to everyone in the world, and the end user can always fully control their financial assets in their own hands regardless of the device they use.

There are still differences between these two digital currencies. Bitcoin and Ethereum can coexist. They are indeed competing with something, but not each other, because as of now, they are not trying to achieve the same goals, which is a good thing for digital currency enthusiasts.

Original article: http://www.newsbtc.com/2016/04/02/ethereum-bitcoin-market-leaders-not-competitors/
By JP Buntinx
Compiled by: Kyle
Source (translation): Babbitt Information (http://www.8btc.com/ethereum-bitcoin-not-competitors)