How purchasing Ethereum presents a good investment opportunity
Dec 21, 2017 Posted / 8328 Views
Technology is moving in the direction of convenience and at present every corporate firm or business house is making its contribution in the research and development of new technology solutions. At present time, cryptocurrency market is booming and many different digital currencies are presenting an opportunity to invest. Ethereum, which is currently standing at $820.41, provides a great potential and investment opportunity to all those new in cryptocurrency market.
Another interesting reason to purchase this digital coin is that since its birth in 2016, has surged in its value, and that too at an astonishing rate of more than 1,100%. We will in this article evaluate what could be the reason that anyone should purchase Ethereum.
Many specialists of cryptocurrency are reminiscing that Ethereum (ETH) will soon cross the $1,000 mark by the end of the year and in the extended sprint it will beat its elder brother- Bitcoin. However before making any decision about investment you should first ponder that what exactly is Ethereum?
Ethereum is essentially one of the open source blockchain networks, which according to viewpoint of many analysts is superior to other networks. To begin with, you ought to be conscious of the fact that when you purchase Ethereum, you will be buying the digital currency utilized on the network known as Ether. Additionally, this currency (Ether) is also the one, which empowers the entire network, and after you purchase this currency, you are in reality making an investment in this network arrangement itself. This forms one of the bases why the majority of the exchanges utilize network’s name, Ethereum, rather than Ether.
A major underline of Ethereum network is that it employs a keystone technology, the blockchain and in addition to it, it is considered more advanced in assessment to blockchain that is utilized by Bitcoin.
A significant advantage that Ethereum blockchain provides is the code language which can utilized to run any kind of algorithm. Moreover, the blockchain is also able to record the data immediately in stark contrast to Bitcoin. For example, Ethereum is able to process transactions at a speed of twelve seconds while on the other hand, Bitcoin takes about twenty minutes.
Banks since long time have been considering that Bitcoin is a threat to their subsistence, which is why Bitcoin since long time has been facing volatility in the market. But on the other hand, major corporations around the world are approving Ethereum since the banks are also espousing it with open arms. For instance, Bank of America (BOA) is amongst the high profile financial organizations, which are working with Ethereum blockchain. Furthermore, BOA has also developed an application (in connection with Microsoft), which is established on Ethereum and will be beneficial in protecting transactions carried out by customers.
A comparable kind of adoption will happen when the bigger corporations will start integrating Ethereum blockchain technology into their system, which in turn will be utilized by the customers as end users of this magnificent technology.
As we can see, the future is very bright for Ethereum and large institutions utilizing it instead of Bitcoin is a very good proof that you should also join the bandwagon before it gets too late.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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