On January 4, 2018, Ethereum passed the $1,000 mark, according to CoinDesk.
The value of the digital currency increased over 10,000% in 2017 and many investors believe that it will be the next Bitcoin. Here’s why.
Groundbreaking Technology
One of the primary distinctions between Bitcoin and Ethereum is that Bitcoin is purely a cryptocurrency, while Ethereum is a ledger technology that companies are using for business initiatives. Ethereum’s blockchain technology is far more advanced than Bitcoin’s, as it is built upon smart contracts. Smart contracts are a computer program that directly control the transfer of digital currencies and assets between parties when certain conditions are met. Smart contracts can be viewed as the building blocks for decentralized applications, where users and providers can interact directly without a designated middleman.
Ethereum is a decentralized platform that runs applications as they are programmed without the risks of downtime, censorship, fraud, or third-party interference. Given that data security and privacy is of paramount concern for enterprises across industries, Ethereum’s technology will be increasingly essential in transforming the way that businesses run today.
A Strong Community
Enterprises, startups, academics, technology vendors and Ethereum subject experts have formed an Enterprise Ethereum Alliance which is dedicated to learning about and building upon Ethereum’s groundbreaking technology in order to solve complex business problems.
Many companies across a variety of industries are developing decentralized applications that are built on Ethereum. Ranging from enriching the web, building virtual worlds, and navigating identity theft, the utility of Ethereum’s technology transcends industries and will only continue to grow with time, boosting interest and mainstream adoption.
Ethereum Futures and ETFs Coming Soon?
Ethereum Futures are predicted to launch in the very near future, bringing the third-largest cryptocurrency to the attention of larger institutional markets. The launch of Bitcoin Futures in the CBOE and CME exchanges has increased mainstream adoption of the largest digital currency, and the launch of Ethereum Futures is predicted to do the same for Ethereum.
Ethereum As A Long-Term Investment
If you’re planning ahead for retirement and looking to diversify your investment portfolio, now is the time to invest in Ethereum, a stable currency poised for a massive upward trajectory. Bitcoin IRA can walk you through the process, from setting up an account, rolling over funds from your existing IRA, making the exchange, and setting up funds in your BitGo cold storage wallet. Get started today.