Ethereum May Be the Backbone of the Future Financial System

SourceYahoo News
SectorFinancial Markets
CountryMiddle east

Thomas LogueApril 30, 2021, 12:05 PM·4 min read

Ethereum (CCC:ETH-USD), the blockchain-based platform, represents a turning point in cryptocurrency and could eventually serve as the backbone of the financial industry as well as revolutionize gaming.

A concept image of mining an Ethereum (ETH) token.

Source: Shutterstock

The introduction of Ethereum led to more than 2,300 monthly active developers building innovative applications on top of its blockchain.

Ether, the Ethereum network’s underlying cryptocurrency, has the second highest market capitalization within crypto behind Bitcoin (CCC:BTC-USD). BTC has seen insane price appreciation over the past 10-plus years. It’s gain in value stems in part from adoption as a store of value (combating the erosion of U.S.

dollar), its network effects and other reasons.

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Based on the history of Bitcoin’s price ascension, I believe ETH may follow a very similar path, and at even greater speeds.

What is Ethereum?

Ethereum was built as an open-source, decentralized software platform with an underlying smart more...