The potential is huge for blockchains that use smart contracts such as Ethereum (ETH), with their potential market value to surpass that of “store of value” chains. Cryptocurrency platforms such as Ethereum have been running an OS for decentralized finance and commerce.
Most applications are powered by them
To understand it all, you have to view Bitcoin as DOS while Ethereum, on the other hand, should be Mac OS. DOS is perfectly okay; it was the first to be launched and played a big part in the success of the computer.
Most computer nerds grew up accustomed to DOS, but the IT world only became mainstream when Windows and Mac OS came onboard. DOS poses some difficulty for beginners, it is very tricky to program, and only a few applications are available to run on it. Windows and Mac OS, on the other hand, were built to support and encourage more applications to be developed and are much easier for people to use.
Ethereum (ETH) is like Windows and Mac OS, with developers allowed to create thousands of applications on their platform.
It is similar to the internet boom at the turn of the millennium. Thousands of companies sprang up with innovative business ideas that had the potential to change the world while battling to comply with the set regulations, and new methods were devised to finance them. There were some of them such as Pets.com and Webvan that ultimately failed while others will become the next Amazon, eBay, or Google of the blockchain generation.
A better and easier way
The DevCon3 ethereum developers’ conference that took place recently revealed that there is contrasting approach currently available.
The conference was attended by over 2,000 developers, with each one parting with $1,000 to attend the conference as they collectively aimed to push the boundaries of blockchain innovation. The efforts at the conference indicated that the future of ethereum seems very secure. The main concern now remained that of other smart contract-enabling technologies.
Some few crypto pretenders are claiming the status of ethereum 2.0, but none of them have demonstrated the innovative ability, and rapid improvement that is characteristic of ethereum and they are also lacking regarding the developer mindset.
You can never dismiss Ethereum (ETH) as the team has indicated a strong dedication to innovation at all cost, while their effectiveness is something that has never been doubted. The development team have already started working on privacy and scaling, the magnitude that other blockchain couldn’t even fathom. In 2018 and beyond that, ethereum and other technology would continue their path of evolution and will be used to power softwares that will be at the center of the next tech age.
This article was curated from Google News. You can read the original article here.