Are you an Ethreum investor and want to know what the future of Ethreum looks like? Or are you someone who wants to purchase Ethereum and wondering if it is the right time or not.
Well, no matter who you are, in this article, I am going to talk about everything about ethereum future exchange. So you can get a clear idea of it.
So let’s just head into the topic without wasting much of the time:
Everything about ethereum future exchange. What to expect.
A Brief Introduction to Ethereum
Ethereum was created back in 2015 by lead developer Vitalik Buterin. And in today’s time, it is the second most valuable coin in the cryptocurrency industry. Even, it was the first blockchain project to install smart contract technology that allowed people to enter into an agreement without the need of the third party. It was also the first blockchain language to include a programming language.
And Ethereum is also capable of hosting decentralized applications (dApps), which are apps that function without a central point of control. One of the most successful dApps to be built on Ethereum is CryptoKitties, which is a platform that allows people to buy, sell, and even bread virtual cats.
Along with that, Ethereum also has its own cryptocurrency, which is called Ether. Just like Bitcoin, Ethereum allows you to send and receive coins between wallets. A transaction average about 16 seconds and the maximum amount the blockchain can process is 15 transactions every second.
Also, just like Bitcoin, it also uses a consensus mechanism called Proof-of-Work. Plus, the Ethereum blockchain also allows its users to create new tokens.
The Future of Ethereum
As you probably already know that Ethereum blockchain is the second most popular in the cryptocurrency industry. However, you should know that it has a few issues when it comes to scalability. And when I say scalability, it refers to the number of transactions a blockchain can process each second.
Ethereum can only able to process 15 transactions per second. However, back in the days, this was not really a huge deal. As not many people were aware of it. However, things have changed now. As Ethereum has gained a lot of popularity. It is the biggest issue that the Ethereum blockchain faces.
To give you an idea of how limited it is, the NEO blockchain can reportedly process up to 10,000 transactions per second. However, the issue with ETH can be fixed if the developers focus on the scalability issue.
And if they do so, there is a high chance that the organizations might consider using other blockchains to host their smart contracts and dApps instead of Ethereum. If this happens in the future of Ethereum, its price is likely to crash.
Also, the good part is that the Ethereum developers are fully aware of these issues, and they are in the process of making some significant changes. So, we can say the future is bright for Ethereum.