Bitcoin was the big mover in 2017, reaching almost $20,000 in mid-December before experiencing its current drop that is making some investors nervous (currently, Bitcoin is trading at $15,214, so it looks to be in somewhat of a recovery stage causing those who are nervous to let out a trepid sigh of hope). Ethereum, worth far less than Bitcoin at the moment but still moving, has been, as of late, showing off its claim to fame in the crypto world, leading some people to question whether 2018 might be the year of Ethereum.
There are arguments being made against Bitcoin now, about why it may not be the digital currency to last. One of these revolves around the high transactions fees of Bitcoin; if the fees continue in this way, charging the same amount for an item priced at $1 versus $1000, the idea of scaling is put into question. Cue Ethereum, which is known to be much more flexible in its abilities and potential applications – namely that of its relationship with blockchain technology and, even more specifically, smart contracts.
Unlike Bitcoin, Ethereum can be used to develop a variety of applications, which is already happening in the thousands. Today, it was announced that an Ethereum-powered blockchain real estate platform, ShelterZoom, will soon be going live after testing is completed. ShelterZoom will enable people to make and accept offers on real estate via the use of smart contracts, which will eliminate the tediousness of paperwork and improve the transparency of buying and selling.
In another example of the power of the coin, the Ethereum Enterprise Alliance (EEA) has launched several new projects that will make use of the coin’s technology to advance the fields of digital identity, energy, and multiplatform interoperability. The EEA is the largest blockchain body in the world and is committed to using open-source Ethereum technology for enterprise blockchain solutions. EEA believes to see great advances in these areas in 2018 through the use of Ethereum technologies.
Both of these examples, along with other examples of the altcoin’s advancement expected to occur in 2018, will help to lead the technology into the forefront of the cryptocurrency world in 2018, assuming that each of these operations is as successful as they are being predicted to be.