Circle CEO Jimmy Allaire seems to have a lot of faith in the future of Ethereum as he feels it might drive blockchain to be as broadly adopted as the Internet as published on CNBC. The key difference is that ethereum is a platform that allows one to build apps on top of it. Ethereum is the name of the company that created teh digital token ether.
The company has created a platform that works as a foundation on which applications can be built, those built on blockchain that is. Mr Allaire points out that the number of ICOs, a type of crowdfunding to raise funds for new cryptocurrency ventures, has increased dramatically since the end of 2017. Note that $3.8 billion of ICOs were issued in 2017 with the total thus far in 2018 reaching $12.4 billion according to CoinSchedule. With $12.4 billion in the first six months of 2018, the number could exploding in 2019.
We strongly believe here at Classiarius that the 2017 and 2018 period has the look and feel of the 1993 and 1994 period when that new wave of technologies called “the internet” shocked the world. The next generation and upcoming waves of technologies will likely come sooner than we think as China, Japan, South Korea, Switzerland and the US are all investing resources into what many want to believe is the next Google or Facebook.
The new coins that seem to be gaining attention are those competing on the infrastructure level – those like Ethereum that allow applications to be built on them. Some of the new ones to consider are EOS, NEO and Cardano, according to Mr Allaire. We at Classiarius see a rotation and a rally in July and August in the Bitcoin space.
Please see our audiovisual package that points to a turnaround in Bitcoin. After trading just below $6,000 last month, Bitcoin could be on its way toward $10,000.