Ethereum: growth of Bitcoin clone

In recent years, the cryptocurrency space has recorded an unprecedented proliferation. With the success of Bitcoin, many people and organizations have tried to reproduce their basic technology, often with different degrees of success. In this article, we will deepen the world of Ethereum clones, examining the history, characteristics and factors that contribute to their occurrence.

What are Ethereum clones?

Ethereum clones are new cryptocurrencies that try to imitate the functionality and architecture of Ethereum, but with significant changes. They often share similarities with the Bitcoin source code, but I also introduce custom functions and improvements to differentiate. Some examples include:

• The hashing algorithm: clones can use a different hashing algorithm or change the existing one to improve performance or reduce energy consumption.

• Parameters : changes to network parameters, such as locking time, reward or transactions taxes, can change the behavior of the cryptocurrency.

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Growth of the Ethereum clone

Several factors have contributed to the appearance of Bitcoin clones:

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• Involvement of the community

  : many clones are designed to enter the enthusiasm of Bitcoin enthusiasts, who can contribute to development and marketing efforts through social channels, forums and other platforms.

Noteworthy examples

Some remarkable ethreum clones include:

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• EOS : developed by Arthur “Art” Correl and Eos Foundation, Eos aims to offer a more efficient and scalable blockchain solution for companies and institutions.

• Tezos (Xtz)

  

  : Tezos was founded by Daniel Liu, who is also known for his work on the development of Ethereum. The currency focuses on decentralization, security and governance based on the community.

Conclusion

The proliferation of Ethereum clones reflects the continuous evolution of the cryptocurrency space. While some clones can try to innovate or improve Bitcoin’s initial design, others may be more focused on the exploitation of market opportunities or capitalize on the success of their predecessors. As the market continues to mature and the regulations will evolve, it will be interesting to see which clones are successful and that in the end they vanish.

References:

• “Ethereum 2.0: a new era for scalability?” (2020) – Ethereum.org

• “Cardano: a scalable, safe and usable blockchain solution” (2020) – Cardano.io

• “EOS: a high -performance blockchain solution for businesses” (2018) – Eos Foundation

Note: This article is a general general image of the subject. The information presented may not be updated or accurate in real time.

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