Ethereum co-creater says 2018 could be theirs

Last Updated: Thu, Jan 11, 2018 17:00 hrs
Ethereum (Image courtesy:

If Steven Nerayoff's predictions prove correct, 2018 will see crypto-currencies showing a three-fold jump in value.

Nerayoff, for those unaware, is the co-creator of Ethereum. Hence, his evaluations on the rising prospects of Ethereum may be taken with a dash of seriousness.

Ethereum, he says has the ability to process transactions swifty and in a cheaper manner than most of its rivals. Also, increasing interest in cryptocurrencies such as bitcoins could spark interest in Ethereum too.

Speaking to CNBC, he hinted that in all probability bitcoins could be overtaken by ethereum. Ethereum will observe an exponential increase in the number of projects, in fact, ten times more projects than 2017 owing to its "smart contracts" design, he believes.

Ethereum with its token sales has an increasing opportunity in 2018 to be the numero uno cryptocurrency in 2018, the man behind the second largest crypto-currency claims.

Ethereum certainly pales when compared to Bitcoin's valuations the moment. But Nerayoff predicts that in 2018, Ethereum will rise in valuation as well as volume.

At current market prices, Ethereum is trading at $1207.44, while Bitcoin is range bound between $17089.46 and $16135.19.

Bitcoin has soared in valuation from $3300 levels on September 15 2017, to $16,000 currently. In the interim, the bitcoin had also charted a fresh peak of $19188.87 during the first week of January 2018.

Ethereum started 2017 at a price of $10.02, exactly a year ago, and is trading at $1149.61 currently.

For people who may want to park their funds in a moderately volatile crypto-currency, Ethereum certainly seems to be a probable investment bet.

What's the difference?

Ethereum based smart contracts utilise peer-to-peer contracts and blockchain stored applications for contract negotiations and facilitation. Such contracts are a decentralised utility to ensure verification and avoid frauds or censorship.

The New York Times in fact describes the security as a "Single shared computer run by a network of users and on which resources are parceled out and paid for by Ether."

Besides Nerayoff, support for Ethereum has also arrived from other experts such as Lex Sokolin, another cryptocurrency expert. Sokolin refers to Ethereum as the world's computing platform, and bitcoin as digital gold.

When asked in an interaction with as to what should be more in demand, Sokolin explains that bitcoins were more like money, but Ethereum was the real technology.

Ethereum, according to him, was a new infrastructure on which anything could be put up and the system was still hugely secure. Anything refers to dealings such as Initial Coin Offerings.

While 2017 may have witnessed both bitcoin and ethereum rise to a staggering market valuation, Ethereum at a $110 billion valuation has still to catch up with bitcoin's estimated $251.8 billion valuation.

Whether ethereum bridges this gap is still a guess, but the bitcoin frenzy still seems far from over, and that could be one thing ethereum observers would be closely tracking.

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