Bitcoin remained the star of the year 2017 when it surged to record high values till the end of year 2018. However with the beginning of this 2018 year it has seen thousands of low to its all-time high value. Amid this slowing down in Bitcoin the Ethereum is seeming to reach new heights and is creating all-time new records. On the passing Thursday it crossed the price level of $ 1000 par coin which was its career best.
People are looking for alternative crypto currencies altcoins such as Litecoin, Ripple and Ethereum and in their endeavor they are indirectly causing the prices of Ethereum to rise to newer heights. However it is difficult to speculate what lies behind this sudden a-tenth rise to its original value prices in Ethereum; however some monetary experts are of the view that institutional investors are helping to push up the pricing in another altcoin crypto currencies due to the stalling of the price in the Bitcoin. Ripple is moving forward and the attributed reason for its rise lies in the baking by the big banks and institutional investors agreeing to partner up with the founders who are behind the idea of this kind of digital cash so that they may accelerate the speed of transactions thereby helping to grow the interest of investors in this lesson known crypto currency.
On the same lines the giants of the banking industry are more and more looking for another kind of blockchain solution in the form of Ethereum. In the December of the passing year 2017 an assortment of global monetary companies which include Barclays, Credit Suisse and UBS had made an announcement that they are planning to have a test conducted over the blockchain of Ethereum hoping to make it an easier task to comply with the novel European Union standards of reporting under the directives of financial instruments for the markets as contained in their second charter.
This federated banking assortment shall be able to deposit the pool of information in an anonymous way to a privately maintained blockchain and further to verify and cross check it, in case of any irregularities or mismanagement.
The major argument which went in the favor of Ethereum was that its blockchain is more flexible therefore Ethereum shall be easier to utilize as compared to Bitcoin which till date remains the most premium crypto currency of the world. Bitcoin is one of the way to use the blockchain but the block size of Bitcoin as well as the transaction time is a major inhibitor for its utilization for proper banking channels. Hence Ethereum comes to use as it offers its underlying digital technology which are instrumental for recording of transactions thereby allowing the developers to build up on their own a blockchain platform. This is one of the major reason why the initial coin offering had been till date built up on the platform of Ethereum all over the globe.