Summary ethereum has an abundance of support from those who created it and work on it from a digital standpoint. Billionaires also seem to be creating an upward trend for this coin. Ethereum stands a chance of pleasing more than just the geeks who love to work on it and the prosperous who preach it. This is because it is one of the more versatile coins, able to serve as more than just money.
Why is Ethereum One of the Most Popular Cryptocurrencies?
Ethereum is popular enough to beat all of the cryptocurrencies except one. Why is this cryptocurrency so popular? Ethereum started with the goal to better the ideas of Bitcoin. Vitalik Buterin, the creator of Ethereum, has had some success with these ideas. One of the reasons that Ethereum has taken off is that it appeals to the mind of the programmer.
The Ethereum launch of 2014 and its results
Five years ago Ethereum was launched as a barebones application called Frontier. It was intended for technical users, as in, developers. It was downloaded as a program directly from the Ethereum website. This program was eventually one of the first waves of what has become known as Initial Coin Offerings or ICOs. To call it a launch would be correct but only for those who were technically adept at using it.
As more programmers used it the popularity rose. The encompassing aspect of the Ethereum protocol made it easier to create other coins or even other programs based on cryptocurrencies. This was because these secondary cryptocurrencies use the Ethereum platform to exist.
It could be said that Ethereum became the father of other, more specialized, cryptocurrencies. These other programs made this coin popular as well. Like a skyscraper, Ethereum became the “first floor” of other projects as programmers built upon it. This has made the Ethereum platform a huge success.
Burgeoning support from geeks
Programmers love a challenge to duplicate things in digital form. Ethereum does this in spades. With new tech and new ways to implement it, there are new things coming into being. From decentralized exchanges to cryptocurrencies connected to gold, to internet browsers that can pay website owners automatically, the ideas are flowing. There are also smart contracts, which is more popular than the decentralized exchanges.
Programmers have created a fork of a popular browser called Brave. This new browser connects to Ethereum blockchain. It has gained 20 million users in a short time. A person using the internet can now pay only those websites they really want to pay.
The Brave browser has the potential to eliminate those pesky ads. This means those who work online and have their own website can uncomplicate their lives. Monetizing Internet traffic becomes easier for the webmaster.
Smart contracts can be based on this cryptocurrency. This type of contract has the potential to lessen the need for lawyers and their services. These things are just the beginning of what Ethereum has started. Programmers are making it happen and their numbers are growing daily.
Other things that make Ethereum popular
It is not just the nuts and bolts of how this cryptocurrency works that make it popular. There are approximately 115 meetups around the world, to advance the Ethereum agenda. Their forum is popular enough to get the attention of thousands. This is not just for the Western world, either. Asia is involved as well. A recent hackathon in Bangalore attracted 175 people to its meetup.
South Korea has allowed cryptocurrency markets to flourish. The Koreans specifically like the idea of Ethereum and they are a country with a very high level of intelligence. South Korea has the second-largest market for Ethereum in the world. They also have the second-highest level IQ in the world. Coincidence? This worldwide show of force for Ethereum is proof that this coin is not going anywhere anytime soon.
Moving up in the world of cryptocurrencies
When the markets think of prices, Ethereum has enjoyed some good news as of late. Being second in importance makes this cryptocurrency the underdog that people cheer for. With those two facts firmly in place, the bull market seems to be the prevailing plan for Ethereum. Those who love to speculate on price are chomping on the bit over this fact.
Other huge companies have entered the cryptocurrency space recently. This has the effect of pushing other noteworthy coins into prominence. Ethereum is one of those. It has been a few months since this asset has had a true upward push in price. This makes seasoned traders take a closer look at Ethereum, making it even more popular.
Billionaires have started to incorporate Ethereum
Some well-known billionaires have started talking about this cryptocurrency. They equate it with the basic way that the internet runs. Going from gold and silver to fiat money issued by banks and governments, to the current digital age, billionaires are getting the picture. The internet is here to stay and so are cryptocurrencies like Ethereum.
Billionaires are literally shooting for the stars with their spacecraft these days. They need the money that can keep up with them. Cryptocurrencies like Ethereum are literally the only option for the super-rich. A money transaction from Earth to Mars will not be as secure on a credit card as it would be on Ethereum. This is because cryptocurrency transactions are protected by their namesake; cryptography.
The laws of math protect all crypto transactions. No hacker has yet been able to penetrate this protection. Basically, billionaires know how economies work and they have large groups of followers. So when they push Ethereum, people pay attention.
Traders are predicting another bull run
As with all currencies, Ethereum has its cheerleaders. Some have been quite accurate. The important traders, those that have been in crypto for over eight or nine years, are saying that Ethereum has a bright future. That is, the price is “headed for the hills”, as some say. One term being used by successful traders is the word undervalued.
Again, billionaire investors are helping this coin to continue on its upward journey. Some even say that Ethereum will beat the underdog Bitcoin. As with most things, time will tell. For now, the signs are good that Ethereum will not just remain popular, but will also grow in popularity.
Why is Ethereum One of the Most Popular Cryptocurrencies?