According to Ethereum Price Predictions, the value of the Cryptocurrencies could triple. This is because the ethereum’s ability to process transactions within the minimum possible time, and that too with the lowest costs. These advantages have led to an increasing interest of people in cryptocurrencies. Such interest will become impetus to the value of Ethereum in 2018.
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Maybe 10 times more projects this year than last year
There is an increase in number of projects that will result in the increase in the value of Ethereum. The Ethereum co-creator Steven Nerayoff says, “What you’re seeing with Ethereum is exponential increase in the number of projects — there are billions of dollars being poured into the ecosystem right now — maybe 10 times more projects this year than last year, which could easily lead to a doubling, probably a tripling in price by the end of the year”.
Many sectors have already begun using Ethereum
Further, the bitcoin serve as the peer to peer electronic payment system and Ethereum in contrast is for smart contracts that execute when particular conditions are fulfilled. According to Nerayoff, businesses in varied number of industries are realizing the dividends Ethereum protocol is poised to offer them. Additionally, sectors such as oil and gas has already begun to use Ethereum application.
There are diverse uses of Ethereum such as processing transactions and using it as currency. Moreover, as mentioned earlier, this year is expected to increase the value of bitcoin and Ethereum.
Background and future prospects
Emerging as the major cryptocurrency, its price surged by 3600%. This uptick in the prices is largely attributed to the interest of the investors, who have taken a long positions. Further, in order to understand the rise in the value of cryptocurrency one need to have an information about the usability and application of such platforms.
The unique feature of Ethereum is that it provides decentralized processing power coupled with a bandwidth. This characteristics of Ethereum makes it different from its rivals.
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