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The birth of the Ethereum blockchain in 2015 gave rise to an ecosystem of decentralized applications and the foundations of what is now being called “Web3”, an entirely new kind of internet.
Ethereum’s dominance of the dApp landscape, including decentralized finance, NFTs and GameFi, comes from its ability to handle smart contracts, which are self-executing programs that run when predetermined conditions are met. Bitcoin, the oldest and most widely-used blockchain, does not support smart contracts, hence it has never evolved beyond its intended purpose as a cryptocurrency and a store of value.
At least, not yet. While Ethereum is still the most ideal platform for building dApps, thanks to its Turing completeness and higher throughput, it has struggled to cope as the crypto industry heats up. The problem Ethereum faces is that it needs to match the reliability, scalability and...
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