Ethereum Goes Eco in Bitcoin Dethrone Attempt! How Will HUH Token React?

Since Bitcoin came to the internet in 2009, altcoins have struggled to overtake it. This is because Bitcoin was the first cryptocurrency to exist, which gives it a huge advantage over other cryptocurrencies. With its thirteen-year dominance, it makes you wonder, is there a crypto network out there that can surpass Bitcoin in market cap and value?

There is one cryptocurrency in mind that has the potential to dethrone Bitcoin from the top, and that is Ethereum (ETH). But why is Ethereum the chosen one for this task? Let's find out.

What is Ethereum?

For people who have been living under a rock for the past seven years, Ethereum is an open-source

blockchain system that has its cryptocurrency called Ether. ETH acts as a platform for many other cryptocurrencies and uses decentralised smart contracts.

Smart contracts are computer programs that automatically carry out the actions required to complete an agreement between various parties on the internet. They were created to remove the need for a third party's involvement with contractors and decrease transaction costs while increasing their reliability.

Their primary innovation was creating a platform that allowed them to carry out smart contracts using blockchain technology. There are eight Ethereum founders, an uncommon number of creators for a blockchain network. What makes this even stranger is that we know the founders' names. The main creators of Ethereum are Gavin Wood and Vitalik Buterin, who are both well-established programmers.

It was released in July 2015, and instantly became one of the most reputable cryptocurrencies on the market.

What does Ethereum Do Better Than Bitcoin?

Although Ethereum is one of the best cryptocurrencies in the market, it has struggled to overtake Bitcoin as the number one in crypto. Recently, Bitcoin has had difficulty maintaining its value, which allows Ethereum to take advantage.

As of today, Ethereum's native coin, Ether, managed to rise to a two-month high, outperforming Bitcoin, after running the final test on its upgrade. This upgrade is known as Ethereum 2.0, which would see the crypto network move from a proof-of-work consensus to a proof-of-stake mechanism.

Proof of stake is a mechanism used to validate transactions by randomly choosing verifiers. On the other hand, proof-of-work uses a specific validation method to confirm transactions, a consensus that Bitcoin still uses.

Using a proof of stake mechanism gives Ethereum the upper hand over Bitcoin, as this consensus is more energy efficient, faster and cheaper than proof of work.

Another coin that uses proof-of-stake is HUH Token (HUH), an open-source meme coin that combines the functions of a utility token with the satirical branding of meme coins. This would make it the first 'utimeme' token in the market.

It plans to have a social networking platform called MetHUH, where creators and influencers can view content. HUH token will be the founding token of the exchange while being able to do so onto the new HUH blockchain on a one-to-one basis.

Final Thoughts

As time passes, the popularity of Bitcoin and Ethereum increases, making the number one position close to call within the next few years. However, what gives Ethereum the advantage over Bitcoin is its ability to consistently find new ways to be innovative, whether it is through implementing new mechanisms or expanding its already large ecosystem.

More information on HUH Token (HUH):

Swap: https://swap.huh.social/

Website: https://www.huh.social/

Telegram: https://t.me/HuHToken