Founder of the Ethereum digital currency, Vitalik Buterin, believes in the future the development of blockchain technology can compete with the scale of financial institutions such as Visa and credit cards. Buterin explains one of the important keys of Bitcoin's digital currency competitors that is the development of blockchain technology.
Quoted from Techcrunh, Tuesday, September 19, 2017, blockchain technology is a public digital ledger that records all digital currency transactions.
This technology uses a decentralized computer network to send messages that create the digital ledger. This booklet is universally accessible and is guaranteed to be unedited or modified.
So the hacking effort is hard to do, because the digital ledger transactions were recorded in thousands of computer networks. With such a system, blockchain technology makes the risk of fraud on legal and business transactions with technology is very small.
With the concept of decentralization, it will offer security compared to a centralized system and involve third parties in banking services.
"Bitcoin currently processes approximately 3 transactions per second. Ethereum performs 5 transactions per second and Uber deals 12 in every second. It took several years for the blockchain to compete with Visa, "explained the Ethereum founder.
Buterin admitted, blockchain is still not popular and has not become mainstream. But he believes with the current profile, later Ethereum with its blockchain technology can steal the public's attention.
Along with technological developments, blockchain technology will grow and replace many services that require parallelization, programs that must run at the same time.
Based on monitoring from coinmarkecap site shows, Ethereum value rose 0.92 percent so that the value to US $ 280.79, the value of other digital currencies of Bitcoin rose 5.22 percent with an exchange rate of US $ 3907.75.