The recent Ethereum move has pushed down the value of Ripple to under $100 Billion, despite the CEO of Ripple – Brad Garlinghouse – appearing on FOX Business stating that:
“We are working with three out of the five largest in the world”
in direct reference to Banks and reaffirming their partnership with AMEX.
Ethereum has been on a steady upward trend over the past month. Since breaking $1000, it has marched onward to new all-time highs. This may be due to rumors of Ethereum futures markets being available very soon – news for Bitcoin that was seemingly responsible for its run up to $20,000. For more in-depth Technical Analysis, check our dedicated section.
Currently Ethereum powers the coin trading network of 86% of the top 100 coins, something that may shift as platforms like NEO, Lisk and EOS increase in dominance. The Ethereum network processes more transactions than any other coin, with relatively low transaction fees compared to Bitcoin. This massive volume of transactions is partly due to the sheer number of coins (and cats https://www.cryptokitties.co/) – running on Ethereum. Despite this achievement, Vitalik Buterin himself has expressed that the need to scale Ethereum with faster transactions and lower fees in 2018 is paramount:
“Scalability is probably problem number one.”
This year should also finally represent an incremental shift from Proof of Work to Proof of Stake on the Ethereum blockchain. Essentially, meaning that people who hold over a certain amount of Ethereum can stake this into the network and increase their holdings – reducing the electrical and hardware costs currently necessary to run the network.
2018 looks set to be another strong year for Ethereum, with some believing that it can even top Bitcoins market cap. Let us know your thoughts in the comments.
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