Future of Ethereum
We all have fears. We all have thoughts about what our future might hold. Ethereum is both those things at the same time. It exists today but is also the future.
It’s as if cryptocurrencies are the building blocks for a new world. I don’t know if Bitcoin is the foundation for some new civilization, but I do know that Ethereum is the foundation for something amazing, and some of the most innovative work in computer science in the next five to ten years.
“In case you’re worried about Bitcoin in the future, fear not, the Ethereum foundation has an impressive roadmap.”
Vitalik Buterin, Ethereum co-founder.
What is Ethereum?
But what is Ethereum, and what is Ethereum’s future?
The Ethereum Foundation has outlined its vision for Ethereum. Here are some highlights from the Foundation’s blog post,:-
Ethereum is Creating a Virtual Blockchain for World Cooperation: “Building our new world will be difficult. It is expensive, time-consuming, and full of pitfalls.
Does Ethereum Have A Future?
There’s a lot of speculation around Ethereum’s future. There are a lot of people calling it “the future”. But there are a lot of other people calling it a bubble that’s going to go down.
It wasn’t easy for me to understand Ethereum. In fact, I was skeptical. But after spending some time exploring the web, I thought to myself, ‘No blockchain has ever had this much public attention for longer than a few years.’ That alone made Ethereum appealing. I figured it would be a good product to invest in.
After the recent Ethereum B-day release and the burst of crazy ETH, buying was all over the media. Ethereum is becoming one of the latest in the cryptocurrency world. When I look at the current market cap of Ethereum ($319.08B), it’s totally insane.
It’s the fastest system ever. And it’s destroying markets, it’s creating massive risk and turmoil and uncertainty.
The biggest risk that people are avoiding now is going to be if the traders themselves got the same amount of wealth as they created, then it might not be worth creating any further Ether.
The actual price of the Ether might drop so low that people start doing something like dumping the Ether into the market. The price might go down so low that people start talking about moving all of their existing money into fiat money.
It’s entirely conceivable. It happened before and it happened to the biggest cryptocurrency. Bitcoin has a pretty healthy market cap right now. However, if the Ethereum market starts recovering and stabilizing in the price. Then I think Bitcoin will follow, just like the internet did, in its own time.
Now that Ethereum is going to be compatible with the different web browsers, it means they can start trying to put other uses of Ethereum into the market. So it’s still in the very early stages, but it might still have a future.
I feel like Ethereum itself is still far too risky for my personal portfolio. It’s not too risky, just the market cap. The market cap is much higher than Bitcoin’s market cap. And the risk might mean a much more volatile price.
So I have a couple of investments that are worth looking at. Ethereum itself isn’t really my cup of tea. It has a lot of potentials., but it’s going to take time. So for the time being I’m not really thinking about Ethereum.
But if I want to make a portfolio that is going to be extremely volatile I might. But I would say that Ethereum itself is not a good investment.
And for people who have a lot of money to invest and are looking for a stable platform. For Ethereum specifically, you should look into Ethereum Classic.
That’s an Ethereum-based system that has the very same features as Ethereum but it’s a very different community, and it’s more stable. The currency is a lot more stable. It has a lot more value, it’s a lot less volatile than Ethereum itself. But just Ethereum itself is still risky.
Some other people do like Ethereum. There are people who are spending money and making a market out of it. They’re buying it and then flipping it onto another market. Or holding it in their portfolio and selling the market at higher prices when it falls down.
So some people were trying to buy it, get it back up, and sell it off at a much higher price than it was before. And a couple of those transactions happened this week. So that’s when the prices got really crazy.
The Ethereum team has put a ton of effort into creating an important technology that will be used to solve big problems. The potential to scale with ease is impressive and very appealing.
And the potential to create revolutionary applications is incredible. The market is so open, I’m expecting to see large companies trying to crack the code and build new decentralized applications. I also see those big industries like finance and telecommunications will come to the blockchain, creating a lot of value.
Once Ethereum is successful in solving big problems and delivering a platform with great functionality, it will likely prove its value and become a valuable investment.
The same will happen with Ethereum networks like Ethereum, Ethereum Classic, Cardano, Stellar, and Nectar.
If we look at history, it’s important to note that most technologies that turn out to be important over time have taken decades to be truly established in their role and become more valuable. Examples include electricity, communication, the internet, private email, and even Bitcoin.
Bitcoin started around 2009. It’s now worth more than $50,000 and has been around for about twelve years. Ethereum is about six years old. By 2030, it could turn out to be worth a few hundred dollars.
The future of this technology is very bright.
In my view, I can expect to see a few companies become the big winners. Ethereum will become Ethereum Classic or Cardano. Ethereum will continue to scale. Companies that are more focused on the public blockchain may not make it in the long run.
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