The digital currency and blockchain space currently have a lot going on right now. BTC dominance has been paving ways for the digital currency. The support for the digital currency is increasing on a daily basis. This is because more firms and individuals are beginning to see its unique advantages. This has also resulted in the emergence of more good crypto news. Other digital currencies such as XRP (XRP), Tron (TRX), and Ethereum (ETC) are also in the news.
Bitcoin (BTC) Is a Revolutionary Technology
Bitcoin (BTC) dominance is actually increasing the recognition of the digital currency. Recently, the digital currency got a huge endorsement from a Congressman in the United States. Tom Emmer – Minnesota Representative – just declared his support for blockchain, Bitcoin (BTC), and digital currencies. The US Congressman is also doing all he can to help expand the blockchain and digital currency industry.
Tom Emmer is also the co-chairman of the Congressional Blockchain Caucus. Emmer said Bitcoin (BTC) is a revolutionary technology. He said this while speaking at the 2019 DC Blockchain Summit. The US lawmaker said:
“A lot of people would like to focus on blockchain only and criticize or ignore digital currency. They will come up with the excuse that criminals use Bitcoin (BTC). Whereas, blockchain technology is the real innovation. It is true; there are illegal transactions. But that is not enough reason to totally ditch digital currencies.”
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin is a store of value
The US Congressman also added that the first use case of a public network which lets users exchange and transfer data and value without an intermediary is Bitcoin (BTC). Since its emergence, many people have been using it to trade. Some people use the digital currency as a store of value. BTC shorts also became popular, as many shorts the digital currency. Some prominent investors involved in BTC shorts recently sold their holding. Some of them shorted BTC when it peaked at almost $20k.
Emmer said the transfer and exchange part of this technology is its revolutionary aspect. Adding that the idea that we can create an open network that lets us control our data without an intermediary is fascinating. We can do while interacting freely with each, with absolutely no need to trust gatekeepers. This could be the major inventions of our lifetime.
Ethereum Boasts of the Largest Developer Community in the Digital Currency Space
According to a recent report, the largest developer community in the digital currency space belongs to Ethereum. This was disclosed in a finding by Electric Capital – a digital currency asset management company. An average of 99 developers are contributing to the core protocol of Ethereum every month.
Ethereum is also working hard to enhance the crypto space. The blockchain project allows developers to create and deploy decentralized applications. However, the project lacks some things which its new update – Constantinople – is meant to fix. Constantinople Ethereum is the latest Ethereum update. Ethereum 2.0, which is another name for Constantinople – is aimed at solving some issues on the network, such as scalability.
Will Ethereum Recover? – Ethereum Price Prediction
Ethereum (ETH) has lost a significant fraction of its value since its all-time high. The digital currency is now down by more than 80 percent. This has made many to ask “will Ethereum recover?” Will the digital currency return to its previous highs? While we all hope so, no one knows what the future holds.
The value of Ethereum recently surged higher when Coinbase announced that the coin would be added to Coinbase Pro. However, since the addition of Ethereum (ETH) to Coinbase Pro, the value of the coin has not shown any major correction.