No, it is not too late to buy Ethereum, actually ether (the cryptocurrency of the Ethereum platform), and the same goes for bitcoin — you should act as soon as possible. But, let’s look at Ethereum in this article…
Although Ethereum went live in mid-2015, it was in early 2017 when the craze started, with the price of ether rising by hundreds of percentage points. Many people thought they have missed the boat, but as we’ve noted above — that’s not the case. Ethereum has just started its long life, which holds a big promise.
Here are 5 reasons why Ethereum is here to stay, and why it is everything but late to buy ether…
1. Respected founder
Ethereum was founded by Vitalik Buterin — a cryptocurrency researcher, programmer, and co-founder of Bitcoin Magazine. In late 2013, he argued that bitcoin should have a scripting language of its own, but when he failed to gain agreement — Vitalik proposed development of a new platform with a more general scripting language. And so the Ethereum was born, with all the good sides of the Bitcoin Network, plus a scripting language.
2. Beyond money
The mentioned scripting language enables developers to build apps that run on top of the Ethereum platform, thus expanding its use beyond peer-to-peer money transfers. This in turn could bring many new capabilities to just about anyone. The fact that an app could be run in a blockchain which also has a currency of its own could disrupt the sharing economy, kicking out the middleman in the process. In other words, an Ethereum-based system could enable a direct communication between users and vendors without a central website taking a cut of every transaction.
3. Smart contracts
Related to the previous point, Ethereum supports the so called “smart contracts,” which enable two or more parties to automate some actions once the previously defined conditions have been met. For instance, I could make a bet with a friend that if LA Clippers win this season, he would automatically transfer $100 in worth of ether to my account; or I would transfer the same amount to his account if that doesn’t happen. This action could be arranged without any third-party involved — the two of us define as a “smart contract” and let the system “handle” the rest. This is just a basic example, and we could expect many other smart contracts to emerge in the months and years ahead.
4. Big business is in
Ethereum doesn’t just gather Silicon Valley startups and rich individuals, quite the contrary — many different players have embraced the platform. In March 2017, the Enterprise Ethereum Alliance (EEA) was created, gathering blockchain start-ups, research groups, and Fortune 500 companies. Members of this group include the likes of Cornell University’s research group, Toyota Research Institute, Samsung SDS, Microsoft, Intel, J.P. Morgan, Merck KGaA, DTCC, Deloitte, Accenture, Banco Santander, BNY Mellon, ING, and National Bank of Canada.
5. Ethereum is growing at a faster rate than bitcoin
For what it matter, Ethereum has been growing at a faster rate than bitcoin, which is still the dominant cryptocurrency. Yes, the overall cryptocurrency market has gathered more attention, but we also have those additional features of Ethereum to thank for such a rapid rise. And again, it was those extra features that propelled the interest of both cryptocurrency fans and big corporations.
Conclusion
You know how they say “it’s never too late?” When it comes to Ethereum, we are still in the early days of this platform so that applies even more. Unlike its biggest rival Bitcoin, Ethereum is a more advanced platform that is supported by major corporations, startups and other organizations. So yes, it is time to act and get yourself some ether. You’ll thank us later. 😉