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Why Etherium Must Be The Future Of Biticoin.

Naijaspicy(staff)
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                              07-08-2018, 04:45 PM
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some supercomputers to mine the
coins but brilliant minds are already
getting the fair share of benefit by
using device power source for
mining these currencies. I am not
getting into the technicalities today.
Let it be the topic for some other
day and today let’s focus on
Ethereum and the potential it holds
for becoming the future of
blockchain.


“The root problem with
conventional currency is all the trust
that’s required to make it work.
The central bank must be trusted
not to debase the currency, but the
history of fiat currencies is full of
breaches of that trust.” the quote
is from Satoshi Nakamoto, the
founder of bitcoin, which holds
prominence for what it delivers.
Talking about the effectivity of
blockchain with the nerds
developing and managing the
innovative concept of virtual
currencies, you will garner the
impression that the system is too
innovative to be only applied for
payments.



Yes, the virtual concept of
bitcoin is great to embrace but what
about the future? Blockchain has
already started giving pieces of
evidence of its effectiveness and as
the technology will grow, we will
have some most innovative options
to trade in the same. Let’s dig out
the benefits of Ethereum in this
virtual space.


Worth Considering: The initials of
bitcoin
Bitcoin Adoption Rates Are Growing
Dramatically
.


The cryptocurrency adoption rate is
currently accelerating among the
investors. Be it any virtual currency,
the investors are taking more and
more interest in the trading. You will
be surprised to know that the total
number of active Bitcoin wallets is
increasing rapidly at over $24 million.


Similarly, the number of Ethereum is
equally increasing only to make the
business more favorable for the
users. Research across the globe has
suggested that major population
across America is investing in some
kind of blockchain technology owing
to the fact that Ethereum can be the
future of blockchain.


Scalability Solutions Will Be Made
Available
Scalability remains one of the most
mportant concerns surrounding the
development of cryptocurrencies.

A
practical approach into both of
these technologies would let you
realize that the current transaction
capacity of cryptocurrencies
including Ethereum and Bitcoin still
needs some time to be accepted on
the payment platforms such as Visa
or PayPal. However, the scalability
solutions are making the rounds and
will be close to implementation very
soon.

There could be large-scale
distributed apps that could help
users get easily into the bitcoin and
Ethereum environment.

The
Lightning Network solution i.e. the
blockchain stability network is
improving voraciously to enrich
Bitcoin network transaction
capacity.


Lightning Network node count has
exceeded Bcash node count.

In
addition 70%+ of the BCash nodes
are hosted on a "Hangzhou Alibaba"

servers which you can check here:

https://t.co/g8HC8bAkIX https://t.co/
iIUyGaftvQ pic.twitter.com/
g1tmAMkXPz

— WhalePanda (@WhalePanda)
March 27, 2018
Ethereum Scalability Solution
Developers are creating Ethereum
scalability solution that is beginning
to yield the results. Ethereum’s
founder has recently shared a
minimal scalability solution in order
to help developers to test
infrastructure using the compounds
of the scalability solution.

The
solutions are quite handy for
developers as it was reported.
However, we will get to know more
about the same when things will
actually reach to the developers.
Worth Considering: All about bitcoin
payment system
Enterprise Scale Adoption Is
Increasing
It is all because of the latest
blockchain technology that
cryptocurrencies are beginning to
capture the attention of enterprise
organizations. Major enterprises
including 500 fortune companies are
investing in this latest technology to
gain the fair share of benefits.

For
example, Outlier Ventures, the UK-
based venture firm has invested in a
software that lists over 280
companies in order to keep the tabs
on their conducting intensive
research initiative into distributed
ledger technology. The company
includes Boeing, IBM, Amazon, and
Western Union.




Bitcoin May Soon Have A Functional
Framework


It is a debate that has always
surrounded the architect of
cryptocurrencies. Having a
regulatory framework makes the
things much more organized for the
developers, the benefits of which
can easily be passed ultimately to
the users. The matter is getting so
intensive that G20 summits are
including the topic in their
intellectual discussion. Global
countries are taking a keen interest
in the bitcoin and cryptocurrency
offerings. Countries like South Korea
is moving to regulate initial coin
offering. Even the NASDAQ CEO
Adena Friedman stated that
exchange may consider adding
Ethereum or other cryptocurrencies
into the dealing.


Worth Considering: Malta recently
become the Blockchain island


The Dynamic Shift In The ICO System
The ICO is becoming a double-edged
sword for the cryptocurrency
ecosystem. It is surely increasing the
awareness about the cryptocurrency
in addition to providing a platform
simultaneously for fraudsters to
trade into an environment that is
getting mature day-by-day. Such a
trading has a consequence of its
own. Studies have already stated
that 20% of all ICOs are the scam.
And there is an urgent need to
reform the ICO Market and the
trading practices that are going into
the same.


The Upshot
With Ethereum, litecoin, and certain
other cryptocurrencies becoming
popular, the ecosystem of this
virtual currency is evolving. At one
hand where, the ecosystem is
enriching but on the other hand,
concerns like ICO scams are making
the things fishy. While the concept
has its own upsides along with a
few downsides but we can’t resist
the advantages that
cryptocurrencies bring along.
Worth Considering: How Does
Blockchain Works?


The concept of cryptocurrencies will
have to wait for more to let the
users accept the Ethereum and
bitcoin concept. The technology is
growing and we are sure to see
more of this concept in the times to
come.


The cryptocurrency concept
may be the infrastructure for a new
digital world that focuses more on
the effectivity of virtual currency.
Although it needs some time to
flourish and thus we will have to
wait until we see more of it.


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