While Bitcoin (BTC) still generates the most media buzz for the general public, investors are increasingly confident in Ethereum’s (ETH) chances. Bitcoin is inextricably linked to blockchain technology as the original creator. However, Ethereum allows companies to leverage that technology for their own uses. Smart contracts and token standards both change the way that blockchain can be integrated. Decentralized applications are picking up steam as a means to replace traditional web apps, and Ethereum is the project driving that adoption.
Perhaps the greatest indication of Ethereum’s success, to date, is the recent release by the Chinese CCID firm. The group brought together some of the top cryptocurrency experts in China to make a list of the top projects. Ethereum seized the number one spot, while Bitcoin languished at 13th place. While the list was met with scorn from some of the blockchain industry, the potential for dApps is undeniable.
Steve Wozniak Excited by Decentralized App Prospects
Steve Wozniak and Steve Jobs created one of the first personal computers in the Apple I. Alongside Bill Gates, they were instrumental to the creation of the personal computing industry. While Jobs and Gates went on to head their respective companies, Wozniak remained a development powerhouse within Apple before leaving for his own pursuits. He remains one of the most highly esteemed figures in the computer industry, and recently made his opinions known on Ethereum.
His support of the blockchain should not be surprising – Ether is, at its heart, a development platform. Creators like Wozniak can see the potential of a decentralized platform and envision the systems that can be built upon it. While his statement that Ethereum could become the ‘New Apple’ is hyperbolic, it’s also not necessarily wrong. As a platform upon which to build, Ether is miles ahead of the nearest competition.
Ethereum Releases Casper Update
On the technical side of ETH news, the blockchain recently released their Casper update to the public chain. While the changes are relatively minor, they do pave the way for larger changes in the future. Specifically, the Ethereum Foundation continues to work towards divesting themselves from the problematic Proof of Work algorithm. As major market forces like Bitmain continue to produce ASIC hardware specifically tailored to mining Ethereum, the blockchain is becoming more centralized. Proof of Stake will help combat this problem, while still providing a means for investors to accrue ETH.
Article By: Adam Stone
