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Visit the Ethereum Course – ETHNews.com



A new rise in negative blockchain publicity coincided with a collapse in the cryptocurrency total market capitalization, after surpassing $ 800 billion in the first week of 2018. Is blockchain technology really exaggerated or is Ethereum widely open to smashing decentralized floodgates?

Ethereum is the distributed application platform on which most existing tokens are built. With the creation of so many different tokens, Ethereum provides supervisors with a clear access point to exercise their mandates in cryptospace (via the ICO phenomena, which outperform traditional venture capital funding for blockchain-related startups in 2017).

But Ethereum The impact is less on the crypto currency's market capitalization, ethers, than $ 61

billion, than on what the platform represents in terms of a long-held concept that the Internet might someday evolve into something called the "Web" is known 3.0 . "

For this reason, the Etherians champion that Bitcoin enthusiasts can keep the speculative coin passive and hope for profit, while the developers of the Ethereum Blockchain actively contribute their personal hopes, talents and abilities [19459008Building the future of the Internet.

Ethereum is evidence that tulips can be talked about when cryptocurrencies are involved, but the blockchain is not a bubble.

Cutting through the FUD

Google The words "blockchain overhyped" and you will find a plethora of articles with new fears, uncertainties and doubts (FUD) around issues like "Blockchains Broken Promises." It could be argued that this recent FUD cycle is a social reaction to a harsh one Cut in total cryptocurrency market capitalization since the record $ 800 billion in January.

Criticism of blockchain and distributed ledger tech nologies (and the association, the vision of the semantic web) ignore the fundamental reality that some of the world's largest corporations value decentralized technologies in the 21st century.

For example, blockchains combined with artificial intelligence and machine learning are unprecedented in scope. This is because the fourth industrial revolution will be based on the combination of established technologies to create new value streams, new opportunities that are greater than their sum.

Cryptocurrencies

Skeptical economist Nouriel Roubini argues:

  1. "Crypto currencies have no intrinsic value, while fiat currencies do quite well because they can be used to control
  2. "Fiat currencies are also protected against depreciation by central banks."

As an argument, we note that the Arizona Senate is currently considering a bill that would allow residents would allow to pay taxes in the form of cryptocurrency. Arizona is a first mover in this regard, but other crypto-progressive states such as Georgia and Illinois, which have similar bills, could help to extend the trend earlier than later.

In addition, you must pay for sure federal taxes on your cryptocurrency, but in Fiat. The IRS has clarified how "virtual currencies" are classified under their definitions for taxable and non-taxable income. As far as the government is concerned, the payment of taxes on cryptocurrency contributes as well as the payment of taxes in cryptocurrency.

While cryptocurrencies are certainly riskier, perhaps more exaggerated than the blockchain technology they support, it would be careless to call them fads. Central banks could one day even spend their own Fiat-based digital currencies.

However, it is important to do your homework before investing in digital assets – even Vitalik Buterin believes that the values ​​of Most cryptocurrencies will eventually fall to zero.

In addition, publications are occasionally published that explain how cryptocurrency markets behave with exotic academic methods. This leads to the idea that cryptocurrency is just a hyper-complex version of the stock market and could lead some to assume that cryptocurrency fundamentals, whatever they may be, are the same as in traditional markets. This thought pattern is inconsistent with reality because few crypto-currency projects have provided their products or services and those that still force the average user to trudge through layers of technical friction to use them.

Blockchain Technology

There is no denying that blockchain technology must overcome some obstacles when systems that require hundreds of thousands of transactions per second are ever upon it be built.

Additionally, many Blockchain critics emphasize that protocols such as TCP-IP or HTTP (S) do not exist for Blockchain. Many believe that these protocol standards will eventually build on blockchain technologies such as Ethereum, which are moving in that direction. An example is the creation of the Ethereum Name Service (ENS), which mimics the traditional Internet domain name system ( DNS). The DNS was built on the above-mentioned basic Internet protocols, but is more of a service that has grown from coordinated underlying standards.

Whatever happens with cryptocurrency, it is important to remember that Satoshi Nakamoto did not create the blockchain the sole purpose of making cryptographically secured digital money. The blockchain was one way to solve the problem of double issue without employing a central authority or trusted intermediary.

While cryptocurrencies are constantly being invented for a variety of use cases, many of which fail or simply grab money, ether was originally created as a fuel to power the network. The ethers hope that this network will one day lead the Internet into a decentralized future that fulfills the dream of a semantic web.

Company Attention

Ethereum utility, although still inaccessible to many people due to technical constraints, is the true value of the Ethernum Blockchain ecosystem. There is no shortage of companies that rely on the usefulness of blockchains to bring their operations into the 21st century. The best example of this is the Enterprise Ethereum Alliance, a consortium of hundreds of companies with well-known members such as Microsoft and J.P. Morgan. EEA Executive Director Ron Resnick told ETHNews : "Ethereum components are now an important part of enterprise products and services, and at the macro level, this means that every company attaches importance to Blockchain The growth of the EEA has accelerated to more than 400 members – companies and NGOs from every imaginable sector. "

He continued:" I speak personally with each new member What they are most interested in The framework of the EEA, which in this year, and our dedicated community for dealing with ethereum technology expect use cases to focus on accelerating business transactions, greater confidence in closing deals and business models, impacting trade through their sheer efficiency and their ability to Reduce costs. "The members of the EEA have already It delivers on platform concepts, pilot projects and early stage production, pumps multiple platform vendors and has a community of over 30,000 developers, and you can see how Ethereum powers the enterprise block chain in the world. "

Ethereum Underlying Remains

" The greatest value of Ethereum is currently invisible under the radar, "says Alex Van de Sande, designer of the Mist Browser and developer for the Ethereum Foundation." It has been like this for a while 'A lot of exciting developers who made weird new stuff and promised all sorts of changes, but I feel that burglary ends as the most exciting projects mature very quickly.'

Sure, some of these projects will fizzle over time, but those who survive to see mass adoption have a chance to become decentralized versions of Uber, Apple, Google, Airbnb, Amazon, or Microsoft.

"There are more and more apps on the main network – apps that do not do any more Ethereum games are – that deliver real value, "Van de Sande continued," Dai Stablecoin has weathered some wild swings, Bancor is conducting instant currency conversion, [and] There are several decentralized exchanges. Aragon and Gnosis have published tons of work code. ENS is adding more and more functionality and all are looking for scalability now.

Those who have no inclination to understand the broader decentralized revolution on which Ethereum relies, or the willingness to explore the multitude of projects emerging on the platform, are left with sensational headlines about speculative cryptocurrency. [19659048] window.fbAsyncInit = function () {
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