Ethereum is a new player in the market, releasing its blockchain technology only a couple of years ago. The digital currency’s head developer and CEO Vitalik Buterin has quickly become a rising star, even making Forbes’ richest in cryptocurrency list. Ether, which is the name of the company’s token, increased from a mere $8.24 during January 2017 to $1,000 in January 2018, becoming the second most valuable cryptocurrency on earth — second only to Bitcoin.
However, the functionality of Ethereum is very different from the cryptocurrency market’s most popular, Bitcoin. Ethereum is a decentralized peer-to-peer network just like Bitcoin, but users have the unique ability to create "smart contracts" and host "crowdfunding campaigns,". There are many other functionalities on the open-source, public, blockchain-based distributed computing platform, but after this quick, impressive growth - what is the future of Ethereum and Ethereum mining?
Cryptocurrency is popular right now in most of the world, especially Asia. Times of global uncertainty lead the individuals and institutions to look at less traditional methods for shielding their money, and for some, cryptocurrency is the answer.
In addition, there is increased interest in alternative tokens, token distributions, and initial token offerings or related token based projects. But to participate types of projects and distributions, for the most part, you must buy into Ethereum, which automatically applies the terms of the contract. Situations like these drive the use and adoption of this technology, which will be critical for the future of cryptocurrency.
And finally, there is the fact that Ethereum is not just a cryptocurrency, but it’s infrastructure for contracts, crowdfunding, and other potential applications, providing something that was previously unavailable in the marketplace. Together, these factors give Ethereum the implication that long-term success will be in order. Ethereum’s developers are working with code that other blockchain technologies lack, and that’s the dynamic ability to create other cryptocurrencies off of the Ethereum blockchain. ICO’s are validated by the Ethereum blockchain, meaning without Ethereum other tokens cannot exist. This positions Ethereum to become one of largest cryptocurrency companies in the world. Cryptocurrency trading and mining is at an all-time high thanks to companies such as Ethereum, and we expect this digital currency trend to continue. Don’t forget to join the blockchain revolution yourself, check out our crypto mining rigs today!Start mining today
Behind this young company is also the support of many corporate giants through the Enterprise Ethereum Alliance. But what exactly is this organization? Here is a quick explanation:
“The Enterprise Ethereum Alliance connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts. Together, we will learn from and build upon the only smart contract supporting blockchain currently running in real-world production — Ethereum — to define enterprise-grade software capable of handling the most complex, highly demanding applications at the speed of business.”
Just recently, the company brought on an additional 86 corporations, with heavy lifters such as JPMorgan Chase, Microsoft and Merck. So, there is tremendous power behind the corporations interested in this technology created by Vitalik Buterin, which may provide stability and a promising future for the company.
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