As we all know, cryptocurrencies are widespread across the world in recent years, especially in Asia. The increasing global financial uncertainties made people rely on alternative tokens like cryptos. Following Bitcoin, Ethereum is trending in the virtual market and it is the second most valuable fiat digital currency. The exponential increase in their value in recent months has put its developer Vitalik Buterin in the Forbes list of richest persons. It is actually a decentralized platform and enables users to build cryptocurrencies based on smart contract technology. Ether is its own cryptocurrency that fuels the platform. Now rises a question, what will be the fate of this crypto? Let us try to find out the answer.
Future of Ethereum (ETH):
The major setback of the crypto platform is it can process only 15 transactions per second. Initially, it was not an issue, now a lot of people has started investing and it is a big woe to its traders. But, fortunately, the expert team is working on to solve the issue.
Many trade professionals believe that ETH will exceed 2500$ within a year as Bitcoin has started to underperform because of the high fee and the resistance to evolve.
When we closely examine the statistics, we can find out that the utilization ratio is directly proportional to the price hike. It is a real deal. Even some tools which convert BTH to ETH are emerging which indirectly implicate the bright future for the crypto.
It revolves around blockchain technology. Miners validate the transactions and put them in the chain. This is called proof of work. There are three ways to mine:
- Pool mining
- Mining alone
- Cloud mining.
Pool mining is highly recommended as it easy and widely accepted. It involves working together in small pools, where the security key is found by one and spread among the miners and the reward is shared among them. Mining has created jobs for so many traders around the world.
Conclusion: The sudden surge of the new cryptocurrency has resulted in the emergence of a new tool called Ethereum Code, read more about Ethereum code, which helps to trade efficiently. It has been estimated that the cryptocurrency has attained a growth of 230% in the last one year, which is quite promising. A good trader should be able to forecast the market and invest wisely. For a safer bet, one can adapt hold and sell strategy.