2018 Can Be Ethereum’s Year, Says Nerayoff

2018 Can Be Ethereum’s Year, Says Nerayoff

Steven Nerayoff, Ethereum co-creator, believes that projects built on the Ethereum platform may trigger significant price surge of the ether token. Unlike Bitcoin, the Ethereum ecosystem is vastly used among developers.

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Steven Nerayoff, Ethereum co-creator, believes that projects built on the Ethereum platform may trigger significant price surge of the ether token. Unlike Bitcoin, the Ethereum ecosystem is vastly used among developers.

He adds that millions of dollars are being poured into the ecosystem he co-created. The increased number of projects guarantees that Ether tokens might skyrocket in 2018. The utility of the whole systems depends on user experience and the success of applications built on it. Nerayoff admits that if this year there are 10 times more projects than last year, Ethereum can easily dethrone Bitcoin in terms of market capitalization.

There is an enormous difference between the networks of Ethereum and Bitcoin. Ethereum was developed to support smart contracts that perform only when certain specifications are met. Nerayoff helped in the creation of the tokens used within the system. ICOs were used to raise funds from companies interested in the project. On the other hand, Bitcoin was once set to function only as a peer-to-peer payment system.

Ethereum co-creator believes that now blockchain technologies are entering every sector of the economy because industries already see the potential they have. The positive outcomes are countless and fintech companies are not the only ones using distributed ledgers anymore. The oil and gas industry stepped in, as well as governments. Gaming companies, retail and logistics services transform themselves with the help of various blockchain platforms.

Ethereum is so successful not only for its platform that enables new developers to utilize it but for providing high-speed transactions. Ethereum is praised among the cryptocurrency community for being faster and cheaper alternative to Bitcoin. Transaction fees are just a fraction of the Bitcoin fees. These features definitely play a major role in increasing the usage of the whole network. More users lead to more projects, which require more programmers.

Currently, Ethereum is the second-largest cryptocurrency by total market cap. The total value of the Ether network is nearing $118 billion.

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