Ethereum Hottest New Platform and Bitcoin’s Top Rival: Bloomberg

Ethereum receives welcome support from the mainstream press as Bloomberg calls it “the hottest new platform in the world of cryptocurrencies and Blockchains.”

The comments come as part of a piece setting out the next move for “Bitcoin’s top rival,” which include removing mining to allow the network to scale and meet possible demand from global corporations.

“If Ethereum is going to take advantage of the potential that companies like JPMorgan, Microsoft and IBM see in its underlying transaction technology, the Blockchain, as the potential backbone that could reshape modern business and finance, it needs to gain wide adoption to become something of a de facto standard,” Bloomberg writes.

Removing mining comes in tandem with its replacement, a proof-of-stake solution known as Casper, which has been in development since 2014.

With Casper, Ethereum “will be more usable, more secure and more scalable too,” the publication quotes developer Vlad Zamfir.

While Bitcoin has made the headlines in a more positive light than usual recently, due mostly to its price sitting at sustained highs, Ethereum has until now mostly failed to chart in terms of mainstream attention.

At the same time, its smart contracts have garnered praise from banks and major corporations across the world, with a host of dedicated startups springing up helping them make the best use of Ethereum technology.


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