Ethereum is experiencing the fastest growth of any digital currency ever. Not even two years old, the platform is now worth more than $17 billion with its trading spaces consistently attracting more online active users than even bitcoin’s.
The currency made history yesterday by becoming the most secure public blockchain out of all in existence, overcoming bitcoin for the first time ever since its inception, as measured by what it’s called a Köppelmann Constant, described as:
“The ETHBTC rate where Ether PoW mining yields the same value as Bitcoin mining. Also, it is the ETHBTC rate where Ether PoW expends more economic resources on PoW than Bitcoin.”
That follows another new first as ethereum’s transaction volumes reached 50% of bitcoin’s recently, something which has never happened before and suggests ethereum is being widely used.
In addition, today it was revealed that the car giant, Toyota, which handles some $260 billion of yearly revenue, Samsung, the South Korea’s giant which manages some $300 billions of yearly revenue, The Depository Trust & Clearing Corporation (DTCC), which handles trillions, the San Francisco Stock Exchange and far too many others to mention, have all joined the Enterprise Ethereum Alliance.
One of the biggest blockchain event opens today in New York city when advisors to ministers and the European Commission, together with representatives from numerous household brands, as well as the Enterprise Ethereum Alliance, are all to present, discuss, or announce.
Some more eth news will probably come out, but the atmosphere in eth spaces is ecstatic as it is. The music is now playing loud, the real party has just begun, everyone is tipsy, and all have fallen in love.
Eventually everyone will have to go home, but whether that is this month or next decade no one quite knows. Because a generation is once more inspired, drunk in creativity, full of innovation, building all sorts of things, talking of disrupting all sorts of industries.
Just the brand names that have joined the alliance tell a story. Samsung, Toyota, Microsoft, BP, Intel, JP Morgan, a stock exchange, DTCC, and, among many others, Merck, the world’s oldest chemical and pharmaceutical company dating back nearly 350 years.
Just what blockchains can do for chemicals remains to be seen, but record keeping in a safe and immutable manner might be one application among others. Which just goes to show nothing might be left untouched.
Featured image from Shutterstock.
Last modified: May 21, 2020 9:48 AM UTC