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Why Ethereum is the Future of Blockchain

Traders Magazine Online News, July 30, 2018

Michael K. Spencer

The blockchain platform with the most utility, developers and the dApp framework that is the most scalable, will win and take over the mantle from Bitcoin, as the heir apparent of blockchain innovation.

It would be hard to argue that in 2018, thatís not Ethereum. Its spawned countless ICOs, and has the most developers by far globally working on it. As of October 2017, according to CNBC it had at least†35,000 developers. In 2018, some believe that number is closer now to 200,000. That is according to Kevin Rooke, a cryptocurrency researcher and YouTuber.

Ethereum: the Handmaid of Decentralization

Few blockchain projects embody the spirit of decentralization as soundly as Ethereum and†Vitalik Buterin.†Ethereum is built on a newer generation of blockchain technology and is optimized for software engineers. With advances in sharding and plasma it has a decent chance of overcoming its scalability issues sooner rather than later.

A reported†94 out of the top 100 blockchain projects†have launched on top of the Ethereum network. Ethereum as of mid 2018 has a market cap of $52.3 billion USD, but that doesnít properly show its ubiquity as the leading dApp platform for developers and blockchain startups.

The root problem with conventional currency is all the trust thatís required to make it work.†The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.?ó?Satoshi Nakamoto

Ethereum: the Blockchain Platform Devs Want to Work†On

Ethereumís commitment to a scaling strategy and decentralization, likely most resonates with developers as the first-mover dApp platform of choice. While Bitcoin over the last decade evolved into a digital store of value, it didnít scale in terms of a payments option for various reasons.

However Ethereum has increasingly established itself as the leading decentralized application platform. A landscape of competitors has emerged but without posing any immediate threats to changing this, which include among others: EOS, NEO, Cardano, Stellar, Qtum, ICON and now likely Tron have gained significant market valuation and presence in the global market, with their focus set on decentralized applications.

Who will blockchain startups and developers trust?

The list of those who are on Ethereum is too long to list, however even the most pragmatic solutions such as $2 billion China-based IoT blockchain network VeChain, exist on the Ethereum network. Tron is migrating to build a competitor to NEO, often referred to as the ďEthereum of ChinaĒ. Itís uncertain if Cardano or EOS will have the technical superiority they claim to threaten Ethereum in the immediate future, or the next few years.

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