The undisputed king of cryptocurrency had a ball of life in 2017. It started year 2017 under $1000 ($984 precisely) and went on to the maximum price of just under $20,000 before settling a bit at around $15,000 in the last few days.
For Jez San, CEO of FunFair Technologies, an investor in bitcoin and cryptocurrencies – 2017 has been remarkable but it is just the beginning. Bitcoin with it’s high fees and awfully slow transaction and difficult trading is hardly suitable for payments and that will determine its future moving into 2018. It is hard, time consuming and there are not many buyers to take it quickly considering when you need to sell it urgently.
However it is pretty clear that the option is wide open for blockchains that use smart contracts such as ethereum.
Ethereum is just like Windows and Mac and developers are creating applications in the thousands.
Example of Bitcoin seems to be pretty similar to y2k bubble. Many promising companies such as Yahoo, ToysRus, Pets.com emerged and came in with a bang but only few companies like Amazon, Google moved successfully into the next decade.
At the DevCon3 conference last month which was an Ethereum developer conference around 2,000 developers attended paying $1k each plus other expenses to push the boundaries of blockchain innovation in the future. One can safely say, Ethereum’s future seems secure.
Via: Coin Desk
This is a Guest Post by Umar Majeed, you can reach him directly @StyloMughal@gmail.com