ICBC specialists believe that Ethereum developers contribute more than others to the development of Web3 and the stablecoin market:

“Ethereum developers are constantly improving their technology in terms of security, scalability and sustainability. And stablecoins, created on the basis of Ethereum, represent a bridge connecting the digital asset market to the real world.”

However, bank experts noted, the complexity of smart contracts can lead to vulnerabilities. Network scalability is another problem that Ethereum developers are trying to solve. The computational demands of smart contracts could overload the blockchain and increase transaction fees, the study authors said.

However, not everyone is convinced of the advantages of the two largest cryptocurrencies by capitalization. Recently, Unlimited co-founder Bob Elliott doubted Bitcoin due to its strong volatility, and the CEO of the cryptocurrency market maker Wintermute, Evgeny Gaevoy, predicted the collapse of the Ethereum blockchain.