Will Bitcoin “kill” Ethereum? Bitcoin has been honing its technological prowess with the advent of BRC-20 token standards following the Taproot upgrade. The BRC-20 token standard is a pivotal development enabling the creation of fungible assets on the Bitcoin blockchain, aiming to replace the popular Ethereum ERC-20 token standard. However, BRC-20 tokens face challenges like the lack of support for smart contracts and non-fungible tokens (NFTs), which are integral to the Ethereum blockchain.
The Taproot upgrade, a recent development on the Bitcoin blockchain, offers significant improvements to Bitcoin’s privacy and smart contract features. Despite the BRC-20 token’s limitations, the Taproot upgrade exhibits promise for Bitcoin’s potential to support smart contracts.
Bitcoin vs. Ethereum: What Is the Difference?
Bitcoin and Ethereum are the leading players in the cryptocurrency market, each with unique features and…
