Blockchain Expert Predicts “Monumental” breakout for Ethereum, Explains How

Ethereum’s token, ether [ETH] is on the path to better days, says Ian McLeod, a notable technology expert, and cryptocurrency analyst.

McLeod, a tech expert with Thomas Crown Art predicted that the second largest cryptocurrency will experience a price surge that will see its price go as high as $500 before the year ends.

He explained:

“Ethereum is back in a bull territory and is on track to enjoy considerable gains before year-end. I maintain that we can expect Ethereum to hit $500 by the end of 2018 and go on an overall upward trajectory throughout 2019.”

Reason for Ethereum Price Breakthrough

McLeod went on to give reasons for his bullish outlook on ethereum. He said this is based on advancements in Oracle, a technology which could lead to greater adoption of cryptocurrencies in mainstream applications.

He explained:

“However, what will be the monumental, defining driver for its global breakout? Oracles. Oracles link Ethereum-run smart contracts to the real world and will be responsible for the digital currency to enter an entirely new phase of mass adoption.”

He explained that Oracles, which are trusted data feeds that deliver information into the smart contract, are becoming more useful for smart contract applications across industries. These oracles allow smart contracts to directly access information outside their network, something that was otherwise impossible.

McLeod continued:

“Oracles are a massive step forward in the practical utilization of smart contracts. They allow smart contracts to accept outside data to decide upon an action – and this has a myriad of highly-demanded, real-world use-cases in almost every sector. For instance, they can help insurance companies with pay-outs on flight delays, sports betting firms with result information coming from various trusted sources, and can help us in the art world by conclusively proving the provenance of artwork quickly and easily.”

McLeod’s organization, Thomas Crown Art specializes in putting artwork on the blockchain; using the technology to authenticate artwork. This process uses smart contracts a lot and McLeod notes Oracles will play a significant role in it. “Oracles will further enhance this concept and lighten smart contracts’ work processes,” he said.

NamePrice24H %
ethereum
Ethereum(ETH)
$0.00-2.08%

Ethereum [ETH] Price Watch

Ether [ETH] is currently trading at $211 according to data from CoinMarketCap. It has managed to stay above the $200 since the beginning of the month after a brief stint under $200 last month.

To end the year around $500 as McLeod predicts, Ether would have to witness more than 100 percent growth in less than two months. He is confident of this as he concludes:

“When Ethereum-based smart contracts are fed a robust and reliable information through oracles to make precise and correct judgments, Ethereum’s price will explode.”

He is no stranger to bold cryptocurrency assertions. He recently predicted that ethereum will eat into bitcoins dominance taking away as much as 50 percent of its market share in the next five years. This he backed up by saying that “Ethereum is already light years ahead of Bitcoin in everything but the price – and this gap will become increasingly apparent as more and more investors jump into crypto.”

Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.

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