Reddit Co-founder Believes Ethereum Will be The Real Winner Rather Than Bitcoin

While most believe that Bitcoin is the face of cryptocurrencies, a lot of people are not well informed of other cryptocurrencies with equally or better investment prospects. Reddit co-founder, Alexis Ohanian  has now rooted and come in support of Ethereum, the second most valued cryptocurrency in the market right now, saying Ethereum is going to be a real winner.

Ohanian told said

“I’m most bullish about Ethereum simply because people are actually building on it,”

Ohanian has stepped back from Reddit’s day-to-day operations and now invests in firms including Coinbase via his venture capital firm, Initialized Capital.

Ohanian said the ETH value will rise faster than that of bitcoin this year because developers are finding it very difficult to build apps based on the bitcoin blockchain, but they find it much easier and flexible to build apps on the Ethereum blockchain.

Ohanian predicted that while bitcoin’s value will most likely double by the end of 2018 , getting back to its all-time high of $20k – the value of Ethereum will increase by 21 times, hitting the $15k mark by the end of this year. The current value of bitcoin is around $9k, while ETH is trading around $690.

Developers have used Ethereum to create applications such as CryptoKitties, a blockchain-based game in which users breed virtual cats. Major firms including banking giant J.P. Morgan have also tested technology based on Ethereum.

Ohanian admitted that he owns a number of CryptoKitties – a blockchain-based game consisting of collecting, breeding and trading virtual felines. It’s become popular among cryptocurrency enthusiasts, and some players have sold their kitties for upwards of $100,000.

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.