As Bitcoin started to increase in popularity, Ethereum entered the scene in 2015. Besides being a new decentralized cryptocurrency, Ethereum brought decentralized smart contracts to the masses as well. This opened the door to endless possibilities due to the smart contracts being Turing complete, which is very interesting for companies looking to improve their efficiency or even create entirely new business models. Since then, the crypto market has boomed with thousands of projects that either aimed to improve on what Ethereum had set up or came up with new models of their own. Ethereum is currently still the second-largest cryptocurrency in terms of market cap after Bitcoin despite the efforts of the competition.
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