Why Ethereum Is So Successful?

Ethereum has solved many problems since its inception in 2015. It allows individuals and companies to do much more than just transfer money between entities.

Ethereum is still the most popular utility used by developers as it was the first of its kind. This gives it a great head start against other projects. Furthermore, Ethereum has one of the strongest B2B communities supporting it.

Ethereum In Current Times

Ethereum is being used as large investors and governments are now looking at blockchain technology with a keen eye. The National Research Council of Canada (NRC) announced Monday that it has built an Ethereum blockchain explorer. Using Ethereum for a web application. Furthermore, Moscow’s government is planning to use Ethereum as part of a system for allotting trading spots during weekend farmers' markets.

The system will record applications submitted by farmers, creating greater efficiency. Another example is the government of Brazil announced its intention to move petitions and popular voting onto Ethereum. Finally, Chile uses Ethereum to track the data and finances from the energy grid, hoping to combat corruption and exploitation through transparent, immutable data available for every citizen to see. These exampled show how the governments around the world are looking at blockchain technology to improve services, secure transactions, and enhance security and trust. This trend is growing and is showing a great deal of attention from agencies around the world, both national and local.

Summary

The price of Ethereum reached over $1,400 in January of 2018, it has since diminished to below the $200 area. This extreme volatility attracts many investors but also turns many cautious investors away. The demand for Ethereum is set to grow as more institutions and governments implement the technology, but are there better alternatives to replace the use case of Ethereum?

Share your thoughts, do you think Ethereum will be successful?

Comment, share and subscribe for more news on cryptocurrency.

Author: Jamal Hasan

jamal@cryptowedge.com

https://www.cryptowedge.com