If you are following the news, you will be well aware of the cryptocurrency crash that happened just last month, and saw the prices of all major virtual currencies drop significantly. Whilst some experts are predicting that the prices of some might never fully recover, others are saying this could be the best thing that could have happened. One cryptocurrency that has come out on top though is Ethereum, and here’s why.
Bitcoin has been the ball park so far, and has had a very powerful influence on the market. However, the crash has made Ethereum stand out for a number of reasons. Despite the demise that was happening around them, Ethereum has seen their prices stay in the green.
This could be thanks to their partnership with Enterprise Ethereum Alliance whereby Microsoft, Samsung, JP Morgan Chase, Intel and Cisco are among just some of their notable members. Other cryptocurrencies simply cannot match this partnership, and the reputation that Ethereum has built in the corporate world.
There are also two upcoming upgrades that have no doubt helped Ethereum. One of the criticisms that Ethereum faced was its scalability. So, in order to evolve, they are working hard to find a solution to this, and have shared a sneak peak of their ‘Ethereum 2.0’, which aims to increase its scale to process thousands of transactions in a second. Another problem was the proof of work mechanism for rewarding its miners. However, an alternative to this is the proof of stake mechanism, which the update will switch to.
Finally, another reason in which we should be backing Ethereum after the crash it because of its expanding ecosystem. The number of applications that are being built on its platform are just growing each day, and there are more than 1,050 DApps currently running.
All of the above make Ethereum a really good cryptocurrency to consider. Experts have also predicted a really good price of $1,500, which, whilst optimistic could happen if it continues performing as it has.