When Ethereum blockchain was created and released out in to the world no one would have expected for it to reach to the performance level that it has right now and with every second passing by it is only rapidly increasing. For instance ether, the value token of Ethereum was the best performing "currency", if we consider it as one, for the 2016. Ether even surpassed the performance of bitcoin and as the new year kicked off it did another significant jump in value while being stable at close to $50 mark for the past two weeks. This bumps ether market cap above $4 billion USD. If you have been a part of community talks then you would know how people were asking the question of whether it would reach $5 and now we have surpassed that by ten fold. We are dedicating this article to share a few thoughts behind Ethereum's blockchain future and how it might merge into our every day lives.
Will Ether Keep its Momentum Going?
Speculating on where the price will reach is a good job for your fortune teller and in reality it could go both ways but if we base our point of view on the fact how bitcoin has been increasing in its value over the course of the years then we would like to speculate the same if not more rapid increase for ether. One could argue that bitcoin has the finite number of units which creates scarcity to help with value increase and this is a correct line of thinking, how ever the difference with ether is that the whole blockchain that it is based on has far greater potential to be in use in our every day lives which in return should drive the value up solely on the volume of use.
Smart Contracts Innovating Agreements
All of you are familiar with the main concept behind smart contracts and how they automatically carry out written agreement when the right time or criteria have been met. Potentially in the future being applied in any and every type of contract that we have developed up until this point in life. Imagine if 7 billion people are all using Ethereum blockchain to govern all of their agreements, how big of a demand there would be for the value-tokens? The answer is colossal. Taking that in mind we would like to believe that the value of ether will only keep increasing. Now not everything must have a monetary value to it and this brings us to the first and main use of Ethereum blockchain which is decentralized applications. Meaning that every application which is developed on this network does not have any centralized party looking after it. Every application is public and built for the transparency and progress of humankind. Which means once the information is submit or processed through Ethereum blockchain it becomes tamper-proof and no one can falsify that data any longer. Some of the coolest innovations that are built on this network consist of knowledge platform and voting systems. While lets say if latter application becomes widely accepted all around our globe it would turn rigging of elections and voting, like board member votes, into complete history. This would give a great amount of ease on mind of any person.
Corporations Have Noticed Ethereum
With the conception of Enterprise Ethereum Alliance, which aim is to connect Ethereum blockchain developers with corporations in order to build decentralized applications on this blockchain, the potential interest of large investing firms became a reality and resulted in a price surge as a lot of funds started trading and even diversifying some of their portfolio into the value-token, ether, on this network. At the same time investing quite a bit of resources into the research of the technology which has created a booming ether market with a bright future in sight. In conclusion we would like to believe that Ethereum network and its value-token will become the part of human's every day life on the global scale in the span of next 5 to 10 years. There is no better time to take a closer look into the potential of this technology if you haven't done that as yet. Once again we would like to hope that you have enjoyed reading into our thoughts behind the future of Ethereum blockchain.