BTC Wires: Ethereum created the digital token named ether. Ethereum slowly but surely went on to become a revolutionary name that established a platform for all the applications that were built on the blockchain. The launch of ether was initially just a fundraising effort on the part of Ethereum to develop this platform.
Now, the same Ethereum could enable the blockchain technology to be widely used as the internet, or so is predicted by the co-founder and CEO of Fintech, Jeremy Allaire. As stated by him, cryptocurrency and blockchain might one day be “as broadly adopted as the internet is today.”
He went on to say, “It’s a really fertile space in terms of the fundamental, technical and infrastructure. Right now ethereum has an enormous amount of developer activity. One of the things that really catalyzed the [cryptocurrency] market last year was actually that ethereum, in particular, kind of got to a place where you could build apps on top of it,” he said. “You could issue new tokens on top of it; you could create new kinds of financial contracts, using the smart contracts technology.”
As a result of this, according to Allaire, Initial Coin Offerings or ICOs, that is a crowdfunding way to raise a lot of funds for the ventures related to cryptocurrency have increased at a dramatic level. In 2017 alone, ICOs raised a whopping $3.8 billion. And in just the first six months of 2018, companies have managed to raised thrice of that amount in ICOs, i.e., $12.4 billion.
Allaire also went on to highlight the fact that several blockchain platforms are there on the market currently. A few to consider are Cardano, EOS, and NEO. In his words, “It also catalyzed a lot of competing infrastructures to ethereum.”