The price of ether, the cryptocurrency native of the Ethereum network, soared 76% in the past month and 1,000% since the beginning of the year.The continued rally is sustained by news of several developments in China unveiled earlier this week.According to a blog post by Andrew Keys, the head of global business development of Consensus Systems (ConsenSys), the Royal Chinese Mint is planning to use blockchain technology to digitalize the yuan.More precisely, it is experimenting with the ERC 20 token standard and Ethereum smart contracts.The initiative is similar to what the Monetary Authority of Singapore (MAS) has been working on with the help of the R3 banking consortium and a group of member banks.Last year, the central bank announced a distributed ledger trial.The idea was to develop “a digital representation of the Singapore dollar for interbank settlement” and find “new methods to conduct cross border payments using central bank digital currency.” The trial was completed in March this year.

Further tests are planned.Meanwhile, Ant Financial, the Alibaba affiliate company focused on financial services, is experimenting with Ethereum to improve its global payment platforms.Ant Financial operates several brands covering payments, wealth management, independent credit scoring and reporting, private bank and cloud computing services.These include the Alipay payments platform, credit rating system Zhima Credit, and digital bank MYbank.In its latest fundraising in April 2016, Ant Financial was valued at US$60 billion.The firm is reportedly considering a Hong Kong IPO later this year.Other Ethereum developments in China include plans by Peking University to create an Ethereum Laboratory.The lab would focus on protocol improvements and application use cases for the Chinese market, specifically in supply chain and energy markets.Dianrong, a leading peer-to-peer lender in China, is said it be exploring “next-generation solutions” based on Ethereum., MI and Baidu, is using Quorum, a version of Ethereum incorporating transactional privacy open-sourced by JP Morgan.

iPayNow sees blockchain technology as the key driver of the next generation of mobile payments.Interest in Ethereum has grown significantly in the past year with global enterprises joining forces in February to launch a consortium dedicated to the technology.Called the Enterprise Ethereum Alliance (EEA), the coalition consists of firms representing the oil and gas industry, the financial sector and the IT industry.It aims to develop enterprise grade Ethereum applications.Ethereum is a decentralized platform that runs smart contracts, code functions that are stored in the blockchain and which trigger actions.Its cryptocurrency ether is the second largest in the world in terms of market capitalization with more than US$8 billion.With the Bitcoin price on a roller coaster trajectory, it is not surprising that Ethereum is trailing just behind it.Recent developments suggest that it could be heading towards bearish movement, as predicted by Goldman Sachs.While Bitcoin price went down from $3,000 to $2,500, it seems likely to steady for quite a while.

Subsequently, some cryptocurrency pundits predict that Ethereum is likely to overtake the Bitcoin.There are various reasons as to why investors are now shifting their attention to Ethereum.bitcoin wert 2016For one, Ethereum has been showing signs of it being ready to overtake Bitcoin in the near future.litecoin hash rate tableIn his interview, CEO of Polychain Capital, Olaf Carlson Wee, said that investors are likely to see Ethereum rally against Bitcoin as early as 2018.bitcoin sync dataWhile Bitcoin has already reached its new all-time high of $3000, discussions about Ethereum reaching up to $1000 has been making rounds.scottish bitcoinSeeing as though most investors may have already missed the rise of Bitcoin, the next cryptocurrency that is currently getting the most attention is Ethereum.bitcoin news tamil

Finally, autonomy is a driving factor for cryptocurrencies: taking money from financial institutions and into the hands of the individual.Since Blockchain technology solely relies on peer to peer transactions that do not have to go through traditional financial institutions, many people in Asia (particularly South Korea) and The Middle East are taking advantage of the decentralized nature of Blockchain technology.bitcoin miner arrestedThere may be some dips that happen when the graph of Ethereum moves.dodge coin currencyNonetheless, it may be worthwhile to invest in the long term growth of Ethereum.ethereum criticismOnce the Ethereum reaches its $1,000 mark, another story will unfold as to whether Bitcoin will react and raise the bar.ethereum future trend

Investors who buy Ethereum now may start selling when the price reaches $700 in order to gain some quick profits, but Ethereum appears to have the longevity necessary for long term investment.ethereum makerWith the fast growth of Ethereum, it may be prudent to position your investments before it hits $750: with its increasing price comes greater uncertainty.ethereum megahash calculatorThe price of ether, the native token on the ethereum platform, rose modestly yesterday, climbing nearly 5% after its developers executed a hard fork to restore funds from a defunct project once heralded as its greatest success story.ethereum savingsWhile the full ramifications of the actions taken to rescue investors have arguably yet to be seen, the decision puts to rest weeks of uncertainty in the wider ethereum community that could be seen in its markets.bitcoin market cap prediction

In recent weeks, the demise of the The DAO has stalled ether's rapid price growth, halting its meteoric rise of more than 1,000% in Q1.As for where the price of ether goes from here, market experts were largely split in their predictions.bitcoin atm square oneMost emphasized that while both ether and Ethereum face significant uncertainty in the short-term, the so-called "DAO hack" could prove beneficial in the long-term.bitcoin electricity cost calculatorMax Boonen, founder of market maker B2C2, was one observer who predicted the market would immediately benefit from the fork, but that this would soon give way to larger questions about ether's value.bitcoin database dump"Reductions in uncertainty always lead to a relief rally.koop bitcoin online

In the short run, the question here is whether the relief rally is over."Overall, a majority of market observers spoke to the uncertainty that ether faces moving forward from the hack.pool bitcoin calculatorMost noted that the digital currency has only been trading since 2015, making its market less mature than bitcoin's, which has (arguably) existed since the first block was mined in January 2009.moeda bitcoin brasilPetar Zivkovksi, director of operations for bitcoin trading platform Whaleclub, went so far as to predict ether will now enter a "period of great uncertainty" following the fork.bitcoin startups san francisco"I expect some volatility but we're also dealing with a crypto market that is 'tired' of massive swings, so those may be subdued," he said.china bitcoin exchange withdrawal

He also spoke to potential headwinds, emphasizing that high volumes have put a sell pressure on the market.Investor and entrepreneur Vinny Lingham also commented on the price fluctuations ether will likely experience in the short-term.litecoin conversion to bitcoinLingham, whose new startup Civic uses blockchain tech, went so far as to predict bitcoin could benefit from uncertainty in the ether markets as money exits for safer waters.circle bitcoin instant"Some volatility is to be expected," he told CoinDesk.bitcoin paypal ceo"A non-material amount of Ether holders will swap ETH for BTC, driving up BTC prices temporarily and causing a flash crash in ETH."bitcoin moore lawOne of the more active conversations to emerge from the hard fork is the debate over whether "immutability" is a defining characteristic of a blockchain, and therefore a quality that is necessary to support the value of its token.bitcoin vienna

Of note is that many in the bitcoin community have criticized the hard fork as one that shows ethereum's blockchain can be changed, undermining the platform's ability to lay claim to this attribute.dogecoin listHowever, when asked, most market observers chose to position the hard fork as a sign of "progress" in the ethereum community, emphasizing that this challenging event could prove beneficial in the long run.litecoin locationChris Burniske, analyst and blockchain products lead for investment manager ARK Invest, addressed the question of immutability by stating he believes ether's market is developing differently than bitcoin's.ethereum etc vs eth"Ethereum has a different value proposition than bitcoin, notably the flexibility of its scripting language and the way which the state of the network is maintained.ethereum to aud

The DAO hack and remediation has proven ethereum's flexibility in both regards," he said.Boonen also weighed in on this question, taking aim at so-called 'bitcoin maximalists' by stating that he believes immutability to be an overstated feature of the bitcoin blockchain.run bitcoin on ubuntu"Bitcoin's blockchain can be altered too, and it has.run bitcoin ubuntuPeople misconstrue public blockchains.bitcoin mining apps linuxThey are nothing more than what miners decide to mine and what nodes decide to validate.bitcoin bill generatorIf enough people agree to, they can alter a blockchain in any way they want," he said.infinite coin bitcoin

Others, including former Deutsche bank trader and BitMEX CEO Arthur Hayes, see the event as creating a precedent that could perhaps undermine the value of ether.For example, Hayes went so far as to envision a situation whereby a government regulator could pressure developers to shut down a popular ethereum service through a similar change to its code.litecoin mining development"This incident clearly demonstrates that the Ethereum Foundation has some modicum of control over the Ethereum network.bitcoin poker deutschWhether or not the case is successful is irrelevant, the Foundation could be in court for years spending millions of dollars that could be used to further develop the protocol," he said.asic litecoin miner for saleOthers see ether facing additional resistance going forward.litecoin all time high price

Algorithmic trader Jacob Eliosoff spoke to the future prospects of the ethereum platform, which is built to support projects like The DAO, emphasizing that it remains to be seen whether other developers will succeed where its contributors failed.mining litecoin with windows"It may take a few weeks for people to be comfortable that the DAO nightmare is over, and meanwhile there is risk of further exploits," he said.bitcoin to inr price chartEliosoff indicated that traders may be looking to see if the difficulties The DAO's developers faced in using ethereum's solidity smart contracting language will hold back adoption or lead to other project failures.bitcoin zertifikatStill, he was largely optimistic, despite concerns.bitcoin aliens hack

“Assuming no major bugs, I would expect the ETH price to resume its upward trend since the start of the year, at least as long as developers and entrepreneurs maintain their fast progress," he told CoinDesk.bitcoin kostenlos bekommenBurniske also provided some bullish remarks, thought he included the caveat that this depends on whether developers are able to continue to launch successful projects on ethereum.bitcoin icevault"Over the coming months the community can get back to ‘creation’ as opposed to ‘remediation and maintenance,’ which should continue to move demand for ether up and to the right," he said.bitcoin ireland atmGoing forward, only time will tell how quickly the ethereum community will move forward from this event.kiwi bitcoin