FX.co ★ Five reasons for further growth of Ethereum

Most experts agree that Ethereum, the second-most popular cryptocurrency, has enormous potential. It is considered to be very promising. Analysts note a number of advantages due to which this virtual currency may over time replace the leader of the digital market - bitcoin.

Availability of improved applications

Acording to its developers, the blockchain system, created on the basis of Ethereum (ETH) was designed not to generate revenue, but to improve the cryptosphere. Over time, convenient applications favoured by most users appeared on the basis of Ethereum.

Transition to the Proof-of-Stake consensus algorithm

Ethereum founder Vitalik Buterin is trying to do everything to ensure that the outdated Proof-of-Work consensus algorithm is replaced by a less expensive and high-speed system, Proof-of-Stake. The creator of cryptocurrency number two and the development team are looking for ways to reduce the cost of transactions. They are striving to make the system more user-friendly. Experts believe that the Proof-of-Stake algorithm will contribute to this matter.

High availability of ETH tokens

Most users can purchase ETH tokens. Unlike bitcoin, they are more affordable. However, the task would be simplified considerably if Ethereum was available for purchase in ordinary stores. This is an interesting idea which is difficult to implement. The developers of Ethereum are working towards that end. In this case, this digital asset will become an international currency and serve as a multipurpose payment method. It should be reminded that digital currencies were created as a bridge between traditional money and virtual means of payment.

Using Ethereum outside the cryptosphere

Many people are wary of blockchain technology. The developers of Ethereum set sights on helping users figure out in this issue and show benefits of this innovation. The blockchain technology is gradually conquering the global marketplace. However, experts point out that the cryptosphere is still rather disorganized. Ideally, Ethereum is supposed to be used in various fields of economics beyond the digital currency market.

Activity on the Internet and social media

Experts consider that in the future users of social media will find a use for Ethereum: they will sell ETH tokens, exchange them for fiat money, as well as pay for various services in the cryptocurrency. They do not preclude the emergence of a social network based on Ethereum. According to experts, it would be a significant step for further advancement of the digital currency. The first steps in this direction have already been taken.