The Crypto Biggies: What Competition?
If you are watching the ICO market these days, chances are you have run across SilentNotary, the world’s first blockchain notary using the Ethereum platform that features smart contracts.
Those of you who are lucky enough to have the time to really do your ICO research know by now that Ethereum is the king of ICOs. Last year more than 78% of ICOs used Ethereum. That is a lead of more than 7 times the next biggest player.
This year is off to a fast start with the price of Ether nearly doubling to a recent record high of $1402 from $713 on New Years Eve. That is a ridiculously awesome performance leading many observers to ask, is 2018 the year of Ethereum?
By contrast, since the start of 2018, Bitcoin has declined 23% to $13,720 while Bitcoin Cash has lost almost 40% in value to $2538. Other major cryptos like Ripple and Litecoin have each declined about 23%.
No question, thus far Ethereum has been a star. Early in the New Year, CNBC interviewed Ethereum co founder Steven Nerayoff about the current status. Steven pointed to the billions of dollars that is being poured into Ethereum projects citing a 10-fold increase in the number of projects presently compared to a year ago. His prediction: the price of Ethereum could triple before the ball drops on 2018.
One reason for Ethereum’s stand out performance may be recognition by investors of the wide disparity in valuation between Bitcoin and Ethereum. As we pointed out in recent article both companies face multi trillion dollar opportunities. However Ethereum is valued at only one third the price of Bitcoin. Investors appear to be taking notice.
Where Is The Competition?
Most observers see separate paths of Bitcoin and Ethereum. The former is designed as a medium of exchange; an alternative to fiat currencies. Bitcoin promises the ability to near instantaneously transfer money. This eliminates slow moving and costly conventional bank transfer methods.
Ethereum on the other hand is a platform for creation of decentralized application running on a blockchain through the use of smart contracts. Some of these applications include the first Ethereum Blockchain as a Service (EBaaS) using the Microsoft Azure platform. In other words, big business is eager to work with Ethereum and that spells rapid adoption.
So you might ask yourself, if Ethereum is the bigger dog, why doesn’t Bitcoin add to its strength by adding emulating the Ethereum business model. After all the guys that created Ethereum came out of Bitcoin. If you are an investor in technology you have learned that every tech leader has a target on their back.
To get an answer to this question lies in Bitcoins single focus on a payment protocol. This limits the platform from working with some well known programming languages, for example C++. So far developer efforts to overcome this key shortcoming have produced awkward results.
From its start Ethereum solved the puzzle by integrating a proper, all purpose programming language with its own blockchain.
When it comes to technology, nothing is impossible so you need to keep following Bitcoin efforts to correct this flaw, but don’t expect this to happen soon. If you believe that Bitcoin has plenty of fish to frey in their key payments application. After all, we are talking about a market with $100 trillion.
So when looking at SilentNotary position using the Ethereum platform, you can be certain they have chosen the leader in blockchain technology. Here are a few things to remember about SilentNotary.
More About SilentNotary
The SilentNotary ICO will soon be underway so keep an eye out for forthcoming details. The whitepaper and full information is available at SilentNotary.com
SilentNotary is the world’s first blockchain notary that is applying it own-patented Lighstamp technology to the Ethereum platform to create documents that are totally secure. This reliability builds trust and confidence through smart contracts.
An Unmet Need
We live in a world today where trust is being challenged more than ever. SilentNotary is a digital notary that saves and certifies documents, emails, chats, audio- and video recordings while securing authenticity using blockchain technology.
A Large Addressable Market
There are over 2.3 billion people worldwide dependent on trust whose everyday lives would be improved using SilentNotary. These are not one time users, these are repeat customers. This is only the B to C market
Think Business to Business markets like Insurance, Artists, Contractors and Blockchain Land Registrations for governments and cities. There are tens of thousands around the world.
Hard Driven Management
The highly experienced Silent Notary team now totals 18 and growing. These are not just developers, but product designers and marketing specialists. This of course is in addition to experts in legal and finance.
SilentNotary created Lightstamp, an IP patented technology that eliminates the possibility of data falsification. This simply means SilentNotary can offer the greatest security, a key to building the highest level of trust.
James Waggoner
james@SilentNotary.com
