When you think of Crypto of course there is Bitcoin. Although, If someone had to name another coin a lot of people would answer with Ethereum. After all, Ethereum is very popular. It has nowhere near reached the heights of BTC but still, lot’s of people have done well investing in ETH. So, related to this topic ~ Ethereum Vs Dero for Smart Contracts.
Now, Smart Contracts. These are digital programs that act by automation after certain criteria are met. Basically, they are legally binding contracts made on the blockchain. So, for a transaction to be completed the terms must be met beforehand of the smart contract.
I hope I have explained that well enough but if I haven’t. Here is Investopedia’s own definition.
I hope this makes sense. If it doesn’t never mind. The main thing to know is that Ethereum is one of the best-known Cryptocurrencies for Smart Contracts. It’s pretty much the reason why it is as big as it has become.
I would say ETH has a very bright future ahead but also this is where DERO comes into the picture.
If you haven’t heard of DERO yet let me tell you why I have decided to bring it up in today’s article.
Ethereum Vs Dero for Smart Contracts –
Is This The Future?
Well, I’ve known about DERO for a few months now. It is another Crypto that you can use for Smart Contracts. Recently, on one of Jeff Berwick’s videos (Yes, that guy again) he made public that this was his most recent TDV Crypto pick. I actually waited with bated breath watching his video – when he said he would reveal it.
Part of me was kind of hoping he’d say something else but I knew it!
I guessed DERO on the day of his TDV announcement because of the activity on Trade Ogre. it was clear as day to me. Some people guessed it might be PRCY but it being DERO was kind of obvious.
I got in at $5 a coin – it is now floating around the $20 mark. It will be one to keep an eye on most definitely.
Jeff Berwick said he expected DERO to reach $700 a coin in the next couple of years, and that it will overtake Ethereum.
I believe him (kind of) I don’t know if it will be this quick. A lot of his predictions have been right but I personally think it could take longer. Although who knows – till these things happen we will just have to wait and see.
DERO Smart Contracts Vs Ethereum
First launched in 2015 Ethereum is a DEFI, Open Source Cryptocurrency with functionality for Smart Contracts. The amazing thing about it is how much its value has actually skyrocketed in just 6 years. Early investors, in the beginning, could buy 1 ETH for less than $2 and as late as January 2020 you could still buy 1 ETH for less than $150.
Now, it is approaching $4000! You could probably bet it will go a lot higher than this as well. Maybe $8K, Maybe $10K.
The only thing which can really stand in its way now is the competition. Ethereum is certainly revolutionary it has definitely made its mark on the financial world. It is an amazing piece of technology but unfortunately, it does have one very big flaw. This is that like Bitcoin Ethereum is traceable. It has a public ledger.
So for example, if the authorities wanted to catch up with you about say unpaid tax on your Crypto assets they could use your trading activity with Ethereum to find out everything they want to know. Bitcoin has exactly the same problem.
Hence, why coins such as Dash, Zcash, Bytecoin and Monero were created to offer their users more anonymity. Of course, the first 3 are maybe not the best examples of Privacy coins but historically this is what they are.
DERO is one of the Latest Privacy Coins [Read More About Privacy Coins Here}
Dero is more or less Ethereum with privacy-centric features. You can use it for Smart Contracts but without all the privacy flaws of Ethereum. In fact, if privacy ever mattered with Crypto it would be with Smart Contracts. It’s strange that Ethereum never really cottoned on to this. Every new update it seems is making ETH more prone to unwanted snooping.
It is ridiculous. if you sign a contract with someone (any legally binding document) – ask yourself this – would you want the contents of this contract to be made public?
You wouldn’t right?
That’s your private business and THIS despite its popularity is Ethereums biggest flaw.
If Jeff Berwick is right then this will be what tips the scales between Ethereum and of course DERO. People are going to want things like Smart Contracts to be kept confidential. The only way Ethereum will be able to keep going, in the long run, is if they adopt this terminology. DERO has and we will see what happens because of this.
ETH actually has a history of being hacked as well. Ethereum Classic was created because of 2 factions of warring developers. Sure there have been some very big updates since but this is another great thing about DERO. It does not have this negative reputation to contend with.
The only problem with DERO is perhaps the idiots that think Privacy coins are only for criminals and tax cheats. Of course, the bankers will try to stick their oar in about this. I’m sure the lobbying against Privacy coins has already begun but the beauty here is that Privacy Coins are untraceable. No matter how much they criminalise them their use is anonymous.
So, there is that. Not everyone will want to go the Privacy Coin route but here I think is an interesting point.
Dero Vs. Ergo – Which Will Take Ethereums Place?
Now, DERO (and ETH) is not the only Cryptocurrency you can use for Smart Contracts. In my recent post, ERGO, Haven, Ravencoin – What Is Going On? I discussed another Ethereum rival ERGO.
ERGO uses its own CoinJoin (coin mixer) DAPPs called ERGOMixer. This does technically make ERGO more anonymous than Ethereum. I think personally it’s not a bad investment either. There is certainly some very interesting aspects of its technology that differ from Ethereum.
On the face of it, I would say if the complete anonymity that DERO offers puts you off in any way ERGO is a great alternative. At the moment it’s around $12 a coin. The highest it has gone is around $20. Which is lower than DERO which has briefly hovered around $22.50.
Interestingly ERGO is a couple of years older and maybe this is a sign of things to come.
You definitely can’t argue that DERO has superior technology for anonymity and privacy.
you would probably expect it to be this that takes Ethereums place before ERGO does. Perhaps both will overtake ETH in value but in the coming years, it seems safe to assume.
As more people should look for more private crypto business dealings so this should show the winner then. If it doesn’t well maybe for once Jeff Berwick will be wrong and Bitcoin and Ethereum will continue to dominate the crypto space.
In Conclusion – Ethereum Vs Dero
The future has not happened yet. This is something we can all agree on. So, how the Battle of the Best Cryptocurrency between Ethereum Vs Dero finishes? Well, who really knows except that DERO looks very, very promising. If it can have the same kind of growth as Ethereum then in around 4 years it should top $3000. Each coin will be 150x in value.
It may even work out more and even sooner. 10 coins now for $200 if you sit on that for 5 years you should have $30,000. Maybe I am being a tad bit wishful here but that would be a nice little nest egg after all this COVID hell ends. If it ever does.
I mean this is another thing that Jeff Berwick talks about – the apocalypse. The whole fiat system completely collapsing and finance as we know it going into complete ruin. There are definitely signs of this that the fiat system (or petrodollar as it is sometimes known) will be inflated to the point of no return.
Like, imagine having to pay $10 for a can of beans? Having to use $1000 banknotes to do your weekly shopping?
If this happens the best thing you can do in this situation is have other means of collateral. Property, physical goods that hold their value and of course non-fiat currencies that will help you to maintain your wealth in the worst-case scenarios.
DERO and other units such as Monero and Pirate Chain. Of course, others as well may just be the solution for this.
Time will surely tell but DERO appears to have a very bright future for business dealings, investment and developers. At its current price – even $22.50 a coin it’s a great time to buy and I will leave at this.
Your FEEDBACK – What Do You Think?
Ethereum Vs DERO is this even worth comparing with each other? How do you think these 2 cryptocurrencies will do in the next 2-3 years? Do you use Smart Contracts? Is there anything I’ve missed? Please let me know in the comments.
Also if you know anyone that might like to read this article please pass on the URL for this post. Share with your friends and contacts on Social Media.
To Your Future Success
Alex B. Chivers