Even those who are not familiar with blockchain are likely to have heard about Bitcoin, the payment system that uses the technology, after its stratospheric rise in value in 2017. In February 2018, Bitcoin was the most valuable cryptocurrency with a total value of $143 billion USD. Behind that was Ethereum, an up-and-coming cryptocurrency that many experts are predicting will overtake Bitcoin in 2018, at $88 billion USD. Mexico’s Pablo Soria de Lachica, an internationally recognized foreign exchange analyst, explains Ethereum’s benefits that set it apart from its competitors within the crypto sector.
To begin, Pablo Soria de Lachica explained that Ethereum is an open source public service that uses blockchain technology to facilitate smart contracts and cryptocurrency trading securely and without a third party. While there are many similarities among virtual currencies, proponents of Ethereum believe its main advantage is that it allows individuals and companies to do much more than just transfer money between entities. In early March, Bloomberg called it “the hottest platform in the world of cryptocurrencies and blockchains” as companies such as JPMorgan Chase, Intel and Microsoft began to invest heavily in it. In regards to the company’s unique vision, co-founder Vitalik Buterin told Bitcoin Magazine, “I thought [those in the Bitcoin community] weren’t approaching the problem in the right way. I thought they were going after individual applications; they were trying to kind of explicitly support each [use case] in a sort of Swiss Army knife protocol.”
Buterin instead imagined a platform that went beyond the financial use cases, and he released a white paper in 2013 describing what would ultimately become Ethereum using a general scripting language. Its key differentiator from Bitcoin was the ability to trade more than just cryptocurrency – the potential and applications are limitless. The average block time is also significantly less: 12 seconds as opposed to 10 minutes. This translates into more block confirmations, which allows Ethereum’s miners to receive more Ether. The company has shown its willingness to adapt and reform through its infrastructure enhancements over the last few years, and the Ethereum currency grew by more than 13,000 percent in 2017. Bitcoin is running out of room to grow, as its supply is capped at 21 million and the majority of coins have already been mined. With a supply of more than 90 million tokens, it is estimated that only half of the Ether coins will be mined by 2021.
Pablo Soria de Lachica is an acclaimed broker who specializes in international trading. He presently collaborates with Kartoshka, a global leader at the forefront of the latest technologies in sales, telemarketing and customer services. Soria de Lachica’s vital expertise gained from years of trading on the forex market allows him to offer the company’s executive a unique perspective and professional guidance on market analysis, international transactions, day-to-day operations and the development of trading tools for investors.
Pablo Soria de Lachica Highlights Growing Ethereum Blockchain Adoption by Corporate World: https://finance.yahoo.com/news/pablo-soria-lachica-highlights-growing-143200065.html
Pablo Soria de Lachica – on the Potential of Ethereum to Become Top Cryptocurrency: https://finance.yahoo.com/news/pablo-soria-lachica-potential-ethereum-121600925.html
