Is Ethereum (ETH) Underrated Going Into 2019?
By Ali Hassan on ALTCOIN MAGAZINE
Ethereum (ETH) in recent times has been speculated that it might be the last time of Ethereum at top position and being the most dominating asset in the market after Bitcoin (BTC). There has been a lot of talks going around that ethereum will be no more in top spot as other cryptocurrencies are growing rapidly and will give tough time to ETH.
The reason for the speculations of Ethereum (ETH) going down in future has been the instability of the price of Ethereum in past few months. As ETH is a second-generation cryptocurrency and it has few shortcomings, which are strengthen by the third-generation digital assets like, TRON, Cardano and IOTA, XRP, etc. The CEO of TRON network Justin Sun has been stating about TRX superiority over Ethereum technology. In the start of last year ETH touched the dream highs of its all-time best of $1389 USD and since then it has been dropping and currently, it has a value of $205 USD.
Ethereum (ETH) being a second-generation digital currency has some vulnerabilities. According to Cardano’s (ADA) CEO, Charles Hoskinson the core issue with ETH is that it is victim of its own success. Ethereum may be amazing in different aspects but it has scalability problems.
The Speed of transactions is not up to the mark due to which traders have disadvantage. The worst part of it is about the Ethereum Code which lacks documentation. Most of the online content is not updated and out of date, also it does not even cover the basics. All this has backfired for Ethereum and this has been the reason for Ethereum’s story so far. They are not able to cope up with their shortcomings. Due to this the price of Ethereum remains unstable and has dropped from about $1000 USD to $200 USD. This big descend in price of ETH has been an issue of worry for Ethereum going into future and that’s what has made investors doubtful about Ethereum’s future. The cryptocurrency users have seen in past few weeks that XRP has taken ETH spot couple of times but however, at the moment ETH has been able to cope up with it.
Ethereum Going into 2019!
Well at the moment Ethereum (ETH) stands tall on 2nd spot. Although co-founder of Ethereum, Vitalik Buterin has been criticized by crypto economists, but the progress hasn’t stopped. Recently, it was revealed that ETH will be allowed for trading on the Dukascopy Bank, one of Europe’s largest Exchanges. The announcement stated:
“Continuing infrastructural preparation for its own ICO for cryptocurrencies on Ethereum blockchain, Dukascopy Bank starts trading operations on Ether to US dollar (ETH/USD) CFD.”
A Constantinople hard fork was set to launch in Oct/Nov but it has been delayed by the development team up to the start of next year. The Constantinople hard fork is a system-wide ETH update which is designed to enhance Ethereum’s efficiency and mechanism, which would make it more resistant to ASIC miners.
Conclusion
At the time of writing, Ethereum (ETH) is at 2nd spot in the market. It has a market cap of $21 billion and XRP is right behind it. At the moment other top coins cannot touch Ethereum easily unless there is a pure bullish run. If Ethereum improves its technology and satisfy the old users of cryptocurrency then we might see Ethereum giving a tough time to its 2nd spot contenders including XRP, Stellar and Cardano.
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The purpose of ALTCOIN MAGAZINE is to educate the world on crypto and to bring it to the hands and the minds of the masses. This article was written and composed by Ali Hassan on ALTCOIN MAGAZINE.
