HomeEthereum Op/EdEthereum the Space Oddity of Cryptocurrencies

Ethereum the Space Oddity of Cryptocurrencies


In the land of crypto-trading Ethereum has crossed a pivotal point today with the price rising to over $20 USD per Ether. Many people within the cryptocurrency community are steadily watching the rise of the Ethereum network as it has a substantial $1.6 billion dollar market capitalization. But what about the astronaut developers and dApp-spacecraft projects happening on the front lines?  

There are lots of people who believe there is no altcoin under the sun with as much promise as Ethereum. As traditional markets worldwide are having very turbulent times, it seems citizens of the globe are focused on cryptocurrencies as the next safe-haven. But to many enthusiasts, Ethereum is more than just a hedge because it captivates its audience with smart contract applications, a wide variety of dApps, and its virtual machine is sparking ignitions of innovation. Enterprise businesses are also infatuated with these attributes, the digital currency holds, from companies like Microsoft to PricewaterCoopers and much more.

For instance, a new project announced called “Project Bletchley” that has been published on GitHub, using the Microsoft (NASDAQ:MSFT) Azure platform has got Ethereum supporters intrigued. The project states, “Bletchley is Microsoft’s architectural approach to building an Enterprise Consortium Blockchain Ecosystem. To be clear, this is not a new blockchain stack. It is Microsoft’s approach to bring distributed ledger (blockchain) platforms into the enterprise to build real solutions addressing real business problems while keeping the platform open.” The Bletchley news, alongside the announcement of Microsoft becoming a premiere sponsor of the next Devcon event has underlined the fact that the multinational tech corporation seems to really want to blast Ethereum off these days.

All kinds of exciting news still surround the Ethereum landscape. For instance, there currently is a $115,000 USD bounty for someone to create a Doge/Ether relay at the moment much like BTC Relay.  As well as news like this the hardware wallet manufacturing company Ledger is stating that the Nano S is coming soon, and the product supports Ethereum storage. Alongside the news of Ledger adding Ether support, there are many exchanges enabling the trade of Ether, various cryptocurrency innovators supporting its infrastructure, and mainstream media has been watching Ethereum development very closely. In an editorial by the publication the Economist, the article shows quite a bit of love and fascination towards the Turing complete cryptocurrency in a piece called “Reweaving the Web.” The Economist author states within the article:

“Ethereum, a similar system that offers more scope for developers to write applications. They can, for instance, design “smart contracts”, business rules encoded in programs that execute themselves automatically: funds are transferred, for example, only if the majority of owners have digitally signed off a transaction. Consensys, a firm that designs such contracts, has used them to create a local marketplace for renewable energy in Brooklyn without the need for a central utility.—Initiatives such as the DAO, a novel investment vehicle that lets its shareholders vote on how to spend their money, is not based in any country—not even a tax haven—but on Ethereum’s blockchain.”

Another update Ethereum users can celebrate is the recently added version of the Mist client which has just been released and supposedly it has significant bug fixes under the hood. A lot of people have complained about Mist for a while now as it has been incredibly buggy for Ethereum users. The release called Mist 0.7.5 beta 19 claims to have a “faster sync, stability improvements, and a more robust node” feature. Besides all the recent development within the core Ethereum network outside projects are focused on as well which include the DAO, and the open source decentralized prediction platform Augur. The beta version of the prediction market has been released earlier this year and people are eagerly waiting for the official release of what the developers call an “Early Warning System for Everything.” Augur fans have gotten a taste of good news when the team partnered with the wallet company Airbitz which takes the “Edge Security Platform Beyond Bitcoin.”

Ethereum has been a force to be reckoned with, and its supporters are happy with the value rise, recent development within the landscape, and the vast amount of attention it has received from mainstream media and enterprise financial institutions. The project is one to watch but can be hard as there are many facets of its innovations spreading across the globe. Live Bitcoin News will keep our readers informed of everything we can find when it comes to this technological companion of the Bitcoin cryptocurrency. So take your protein pills and put your helmet on the cryptocurrency revolution is just getting started! 

Source: Multiple Ethereum threads, Coinmarketcap.com, Microsoft Azure, Github, Augur, and the Economist

Images via of David Bowie’s Space Oddity, Pixabay and Crypto-graphics.com

Disclaimer:The statements,views and opinions expressed in this column are solely those of the author and do not necessarily represent those of Live Bitcoin News


Jamie Redman
Jamie Redman
Jamie Redman is a financial tech journalist from Florida thats been entrenched in the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written hundreds of articles about the disruptive protocols emerging today.

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