Why Ethereum is rising and part of the future of the Blockchain

In 2017 we've witnessed a big bang of ICOs and expansion of the market cap of crypto currencies, yet the big winner has to be Ethereum. Magic computers in the cloud anyone? The blockchain is coming. Read on.

 The price of ethereum, the rising star of the cryptocurrency world, has recently risen to a high of $394.

Rise of Ethereum: Why this cryptocurrency skyrocketed 3000% in 2017

The gaining popularity of Crytpocurrencies on the back of the Bitcoin, now means South Korean and regulation in Banks will spur the blockchain to more mainstream adoption.

Bitcoin may have split into two in the summer of 2017, but Ethereum saw Unicorn ICOs, that are ERC20 tokens — basically subtokens that are built on the Ethereum network and sold to investors doing exceedingly well.

If many ICOs don't have a long-term future, Ethereum likely does, this is because the technology it runs on is considered more sound. Ethereum is actually the name of the technology which the currency Ether runs on.

According to CNBC, 60% of purchases of Ether have been in Korean won. South Korea is looking at regulating Ether and Bitcoin, which is boosting interest in the cryptocurrencies and Ethereum as a platform.

Ethereum is gaining popularity and its value is rising

Ethereum was founded July 30th, 2015 and since turning two is creating a lot of buzz. If the Bitcoin is seen as a shady form of digital gold:

Ethereum can be seen as platform for the decentralized ledger – the blockchain. Without involving third party banks or hidden bank fees, our mistrust of banks and financial institutions is giving way to new forums of transactions such as:

• FinTech mobile apps
• Cryptocurrencies
• Interactions on the blockchain
• Cyber secure and decentralized networks (security and protection against fraud and theft )

The blockchain is growing up

Since Ethereum creates “blocks”, records of transactions, more quickly; proponents of it believe it's more efficient than the Bitcoin and leads to a more decentralized future.

According to Coindesk, the overall value of the cryptocurrency market now stands at $170 billion, up 350% YOY.

The means that the big bang of ICOs is spurring a new interest in the blockchain that could scale very fast. Since Ethereum is newer, it also has more than 4x as many coins in circulation as the Bitcoin, with around 92 million at the present day.

With a market cap of $32.6 billion Ethereum is seen as more fundamental to the future of blockchain, since it allows apps to run on its network that fuels investment differently.

You can view some of Ethereum's corporate partners here. UBS, (Union Bank of Switzerland) notably in 2018 will lead a new way for Banks to accommodate cryptocurrencies. Watching the highs and lows of the market cap, is now part of the fun.

Ethereum has evolved since 2014, but this is still a good primer on the development of decentralized networks.

The Bitcoin is to Email, as Ethereum (Blockchain) is to the internet.

Further Reading | TechCrunch

Vitalik Buterin b. 1994, has dual Canadian and Russian citizenship.

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