Peruse crypto-Twitter for any reasonable amount of time and one will quickly notice the tribalism that exists within Bitcoin and Ethereum crowds. The Bitcoin tribe will claim that “ETH is not money.” Ethereum does not have a supply limit and the current number of coins in circulation can only be approximated. The approximation results from Ethereum’s use of an account model as opposed to Bitcoin’s unspent transaction output (UTXO) model that verifies every transaction. Though not exact, an account-based transaction model better supports the application of smart contracts. Due to this, hard money enthusiasts dismiss Ethereum as no better than fiat currency. When asked about the total Ethereum supply, Vitalik ...
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