The blockchain of Ethereum (ETH) has been a home for a lot of developers over the years. The blockchain project has provided a very useful tool and platform for the development of decentralized applications. Nevertheless, Ethereum (ETH) is being challenged by other prominent blockchain projects in the crypto space, and its usefulness is being questioned.
Recently, Ethereum (ETH) declined heavily and tested a new yearly low. However, the digital currency has been recovering but with a lot of hurdles on the upside. The digital currency has shown a little bit of stability over the past week, but all its attempts to surge over the $250 mark has failed lately. As the value of the coin lacks enough bullish traction, the government of Australia is using the blockchain of Ethereum to auction their bonds. In the meantime, Joseph Lubin – the co-founder of Ethereum (ETH) has invested $6.5 million in DrumG.
Hyperledger and the EEA Enters an Agreement
On the 1st of October, Hyperledger and the Enterprise Ethereum Alliance made an announcement that they would become “Associate Members” of each other’s organization to support the adoption of enterprise blockchain.
About the EEA
The Enterprise Ethereum Alliance is an enterprise blockchain organization that was founded back in 2017. The organization was founded by J.P Morgan, Santander, and a host of other members, with the aim of improving security, scalability, and privacy of the applications built on the blockchain of Ethereum (ETH).
In a blog post, the organizations said, “This partnership will enable more mutual an active cross-community collaboration by connecting with other members, participating in events, and looking for ways for their efforts to be compatible and complimentary.”
Ethereum (ETH) Price Today – ETH / USD
At the time of writing, the value of Ethereum has reduced by 3.5 percent over the last twenty-four hours, bringing the value of the coin down to $222. Its market cap is $22.72 billion, which is not far from that of XRP, and its trading volume over the past twenty-four hours is $1.58 billion.