Ethereum: Process More Transactions in Day
Dec 05, 2017 Posted / 9282 Views
Not only does Ethereum process the majority of cryptocurrency transactions now, but we have been informed that many, perhaps even the majority of developers are using it for their transactions. From experience of ease of use and minimal transaction fees, we are not surprised! We are going to update this post in a few hours when a friend awakes and we can get some more accurate information and resources for study.
Given its ease of use and inherent benefits, we can already see Ethereum phenomenal success. Should these traits continue we may see the use and price of the Ethereum grow? We would be most interested to hear what the Steemit community will have to say on this subject and will update my post today or tomorrow when we can get further information.
Well, of course, this is not the first time it has crossed the $400 mark against USD but this may be significant at this time it reached after "price correction". Back in June 2017, so many ICOs were planned on Ethereum blockchain and it suddenly became so popular that Ether's trading price crossed mark of $400 USD but, soon the price has undergone correction. ICOs are bonus and curse for the Ethereum Blockchain. Ponzi projects, hacking and regulation of ICOs had shaken the trust of many investors in Ethereum, especially those who were not aware of the real value of tech.
Price per Ether rolled down and stayed at around $300 USD for a very long time. At one point in time, it started giving competition to Tether (primarily known for having a constant value equal to USD 1 per Tether) and is used to park money temporarily. Though, it may not be a fair to name Ether and Tether together after the recent news of Tether hack creating untrusted with the user.
Considering everything, it is difficult for anyone to deny the power of technology. A few months back, when we decided to say openly about blockchain and digital currency, I referred Ether as “The Dark Horse” of digital currency world, time has proven me correct. In March 2017, ETH was measured around $18 and now it is around $425 with a growth of approx 2400% while Bitcoin (BTC) then was around $1200 and at present around $8250 with a growth of 690%. The growth of Ethereum (ETH) is more than three times better than the development of Bitcoin (BTC).
It's still not late to invest in Ethereum blockchain technology", we don't mean to invest in Ether only. We mean, it is not too late to start investing your time in understanding the technology, your effort to contribute in the growth of the community, your money in growing along. We would catchphrase on commenting how much ETH will be measured in USD by January 2018, but we wouldn't hesitate in saying "Ethereum blockchain technology is the future".
The value ether, the digital token used on the ethereum blockchain set a new-fangled record high in trading today, at just under $415. It has been the best year for the digital currency, which was esteemed by a cool 5,000% (or so) since January, when it was trading at $8. So far today, the digital currency has gained more than 8%.
All the ether in flow is now worth $39 billion, associated with bitcoin’s $137 billion. The market charge of all digital currencies in circulation, meanwhile, has just passed the quarter-of-a-trillion mark, according to data provider CoinMarketCap.
One clue may be in a chart that has ongoing mingling among digital currency traders. It parallel the number of ethereum dealings against other cryptocurrencies, with ethereum 534,000 transactions over the past day accounting for over 50% of all cryptocurrency trades. This recommends traction among users, which in turn proposes the request for ether is on the rise.
However, transaction volumes don’t tell the whole story. Because ethereum covers a programming language that lets creators inscribe applications that interact with its blockchain, many transactions could also be automated by programs. It’s not clear what percentage of transactions are done by bots or applications, or the significance of that data for extrapolating user adoption. In other words, and as always with digital currency prices, the factors basic the surge remain mysterious.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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