No two cryptocurrencies can be exactly similar. And so, comparing Ethereum (ETH) and Monero (XMR) means we look at the basic similarities but focus on what differences they have that make them unique. Both platforms are blockchain-based and have a native token coin that is used on the network. The other thing is that both are in the top ten of crypto coins according to stats on www.coinmarketcap.com.
Let’s examine Ethereum and Monero based on their technological aspects, price charts, and finally, ask whether either is worth investing in for the long-term.
Ethereum (ETH) vs. Monero (XMR)- Blockchain Technology
According to stats on several cryptocurrency ranking sites, Ethereum is the number 2 cryptocurrency after the trailblazing Bitcoin. Ethereum is a decentralized blockchain-based cryptocurrency whose platform runs Smart Contracts. The EVM (Ethereum Virtual Machine) is a robust Turing-complete programmable platform.
On the other hand, Monero is a fork of Bytecoin and is currently ranked 9th. Monero is also a blockchain-based decentralized cryptocurrency which focuses on privacy and anonymity of transactions.
While Ethereum provides a platform on which smart contracts and dApps are launched, Monero provides users with a platform to send and receive money, securely and anonymously. Several altcoins have launched ICOs on the Ethereum platform using the ERC-20 token. Transactions on the Monero network are untraceable and unlinkable, making it the most anonymous cryptocurrency.
Ethereum uses ether (ETH) as its native currency while Monero’s is XMR. Whereas Ethereum uses Ethash mining algorithm and is in the process of shifting from proof of work to proof of stake, Monero utilizes CryptoNight as its mining algorithm, which is an ASIC-resistant proof of work protocol.
The ethereum protocol is written predominantly in Solidity. However, other programming languages include Serpent, Viper, and LLL. On the other hand, Monero is predominantly coded in C++ and C; 81.2% and 15.9%respectively. Other languages on Monero code include Cmake, Python, and Shell.
Ethereum vs. Monero specifications summary
|Block time||15 s||2min|
|Block reward||5 ETH||Decreasing per 100 blocks|
|Supply||No max supply||No max supply|
Ethereum vs. Monero- Price charts and market performance
As mentioned earlier, Ethereum is the 2nd best cryptocurrency behind bitcoin in relation to the market cap. The smart contract platform has a market cap of $ billion today and ETH is trading at $747 which a drop of -5.07% over a 1 day period as shown on coinmarketcap.com. Ethereum had a stellar 2017, hitting an all-time high of $1700, before correcting during the bear run to below $600.
So, is Ethereum still a good investment opportunity? If you do not have Ethereum in your portfolio, then adding it won’t be the worst mistake you make. Price projections based on technical analysis show that ETH will continue to grow in value over 2018 and for the next 5 years. A 2023 prognosis suggests that Ethereum will be valued at approximately $6700, translating to an ROI of +781.22%. A novice who invests $100 now will have up to $881 by end of 2022.
Below is a price prediction for Ethereum in 2018.
Courtesy of Walletinvestor
Monero is currently ranked 12th on coinmarketcap.com, with a market capitalization of $ 5.07billion. Today’s market price shows XMR trading at $320 which is a drop of 9.03 % over a 24 hour period. Its 24h trading volume is $183,551,000 against a circulating volume of 15,801,390 XMR. Look at Monero’s price chart for the entire period it has traded and notice the growth despite the general bearish spell witnessed in early 2018.
So, should you invest in Monero? The price prediction for this coin shows that it has the potential to do well long-term. For instance, a five-year prognosis for XMR shows that the price will rise to $2104 in 2023 with revenue of +556.54%. If you invest $100 in Monero today, you are likely to get $656.54 in 2022.
XMR is one of the few coins to actually grow in value and maintain an uptrend. It jumped from just above $80 to over $400 in November 2017, before correcting to the current price of $320.
If you are looking to invest in Monero, then have a look at the price predictions below before you make up your mind.
Courtesy of Walletinvestor
Over to you
Basing on the above information, we can tell that both Ethereum (ETH) and Monero (XMR) are tipped to do well over the next five years. They are, therefore, good investment opportunities. However, while Monero will have an ROI of +556.54%, Ethereum is expected to offer a five-year return of +781.22%. So from a pure investment point of view, Ethereum offers a better opportunity.