In a recent talk between Aurélien Menant, CEO at Gatecoin, with EconoTimes, he has claimed that Ethereum is solving some issues of bitcoin. Ethereum’s cryptocurrency, seems to be going strong.
“Up until perhaps six months ago, the Foundation and its subsidiaries have been doing almost everything in the ecosystem; right now, the foundation and its subsidiaries are still doing much of everything though some community members have stepped up to compete with its own offerings – in some cases, in my own humble opinion, quite excellently,” says Vitalik Buterin of Ethereum.
When asked what future is in store for bitcoin, Menant stated,
“It is very hard to say. Bitcoin was design as an experiment, to illustrate to potential of the blockchain. This experience became more successful than anyone could have predicted, and it is impossible to say until where it is going to go. That being said, bitcoin is not perfect. Some might point out the absence of KYC on the wallets to argue that governments and central banks will never allow it to grow beyond a certain threshold. The apparent lack of scalability or the exponential size of the Bitcoin blockchain is other concerns that are addressable.”
Ether, Ethereum’s cryptocurrency, is by all accounts going solid. The cost of Ether touched a high of $1.25 (0.002803 BTC) on Tuesday. Ether is the inward “fuel” – the coin unit – of Ethereum, used to pay for computational administrations on the system. Money Magnates brought up that Ether could acquire speculator enthusiasm with proceeded with center of Microsoft on its Ethereum-controlled blockchain apparatus on its Azure platform.
“All those projects can evolve, Ethereum was set to be linked to the bitcoin blockchain originally, or we could even imagine that bitcoin core will evolve in an Ethereum or blockstream direction. It is today impossible to say who will be the winner, and actually there is room for all those projects. There are so many different applications, with so many different requirements, that it makes sense to have several blockchains,” says Menant.
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