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Ethereum joined the ranks of Bitcoin due to its differentiated use case and network effects, stemming from the introduction of smart contracts and composable applications in 2015. Unlike Bitcoin, Ethereum allows for multiple hard forks and has a community that agrees on protocol changes. The unique properties of Ethereum, such as Proof of Stake and EIP1559, contributed to its success. Ethereum's ability to make trade-offs in complexity and speed while offering a distinct use case has led to its position as the second largest crypto asset with ample liquidity and interest from institutions like Fidelity.
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Listen to the best highlights from the podcasts you love and dive into the full episode