By market capitalization potential Ethereum has many chances to outperform bitcoin. The number of transactions on Ethereum blockchain has spiked after the Enterprise Ethereum Alliance was formed.
Just to note: the Alliance is a group of Fotrune 500 companies, organizations, startups and technology vendors supporting Ethereum. There are renowned companies such as Microsoft and JPMorgan in the Alliance. The ultimate goal of the Alliance is to promote realization of Ethereum blockchain-based applications and networks across many industries. At the beginning, many organizations saw Ethereum as a basis for privatized applications, but the Alliance plans to build a global Ethereum blockchain to link all small and private networks into a united super chain. How high will Ethereum go? All those factors make the exponential growth of Ethereum possible, and the answer to question “will Ethereum go up” is “definitely yes”. Definitely, the currency will climb higher.
When will Ethereum switch to PoS mining? PoS mining makes it possible to get new coins without expensive crypto equipment. This means there is no need to search for the best and effective hardware to mine coins. There is also no need to maintain the equipment, to find ways of cooling it, to set up mining pools etc. All you have to do is to buy some coins supporting PoS, and those coins will work for you. The idea of PoS mining was found in 2011 in one of posts on bitcointalk. Just one year after, the technology was tested via PPCoin (PeerCoin now). Later, PoS protocol was introduced in other projects. So what is the essence of PoS mining?
The launch of PoS protocol in cryptocurrency projects has allowed to coin holders to earn percentage on the amounts they possess. The process is as follows: if you have, say, 1% of the overall amount of coins, you will be receiving 1% of all generated blocks just for having this currency in your wallet. This resembles a bank deposit, when you get some percentage to your wallet once a year just for keeping your money on that bank account. PoS mining works the same way but the time periods can differ.
Ethereum also plans to switch to PoS mining. According to some hints from Vitalik Buterin, the network can change its basic mining principle by the end of 2017. Furthermore, in March 2017 Vitalik told that according to his conservative estimate, the switch will take place during the next 15 months. In other words, we should see it no later than in June 2018.
Ethereum in 2017
Will Ethereum reach 1000 USD? Ethereum has significantly risen during 2017 and hit the $300 USD mark. And the currency can move even higher in the coming months. The number of Ethereum coins is bigger than bitcoins, but it has many more spheres of application than bitcoin.
According to experts and analytics, Ethereum can easily break the $1000 USD mark by no later than the end of 2018, but this will heavily depend on the overall tendency in the cryptocurrency industry. If we compare ETH and BTC price charts, we will see that their spikes and drops happen synchronically. Thus, Ethereum finds its fans (at least, for the time being) on the back of overall hype in cryptocurrency.
All the experts agree with an opinion that Ethereum will hit 1000 USD, but time spans differ. Bearing in mind that 2017 has made the coin 24 times more expensive, one can say for sure that the $1000 mark is round the corner.
Ethereum Mining End?
When will Ethereum nining end? Yet another interesting question is Ethereum mining. Everybody knows that the number of bitcoins is limited and cannot be more than 21 million. What about Ethereum? Will there be a point of time when no any new coins are created? Will mining end? When (and if) Ethereum switches to PoS mining, there will be no necessity in classic coin mining. Holders will receive the currency just for keeping some amount of it. There will be no need in having expensive equipment while Ethereum miners will have to switch to other coins.
How much will Ethereum be worth? The currency rate during 2018 will depend on the overall state of the cryptocurrency market, on comments from states’ officials regarding the cryptocurrencies and investor risk appetite. No doubt, when the crypto market cap rises, say, 2 times, we will see so much different numbers in Ethereum and other cryptocurrencies. Ethereum can easily hit the $1000 mark by the end of 2018. By 2020, if the Ethereum network keeps developing and the crypto industry feels OK, we can expect the currency to rise towards 1500-2500 USD.
In general, Ethereum can rise high enough and outperform Bitcoin as the currency has many more applications than bitcoin, so we are awaiting big differences in the Ethereum ecosystem and its price.
Many are asking today, will Ethereum price rise eventually and how high Ethereum will rise. In our opinion, it will definitely rise and can climb high enough, but the future of the currency will depend on overall state of the cryptocurrency industry and the level of development of Ethereum itself.