Will Ethereum Be a New Platform to Develop Startups?

Last Modified:12 May 2020 14:35:17
Will Ethereum Be a New Platform to Develop Startups?

Ethereum is among popular cryptocurrencies which have found more homeostasis day by day in the world of new technologies in cryptocurrency. Its young creator, Vitalik Buterin is compared to Steve Jobs. The ambition and the perspective Buterin has in mind is highly similar to Jobs’. Buterin believes that this new technology will offer the companies and businesses the courage to work at a new level in a way that they start working with Blockchain orientation and supply their services on Blockchain platform.

Ethereum and New Opportunities

A large number of investors entered the world of cryptocurrencies in 2015 to get familiar and discover the world of cryptocurrencies. A while later, startups drew their activities toward the Blockchain platform and new technologies such as Ethereum. In 2017, the status of Ethereum and its peers was pleasant; however, with the price drop and recession in crypto-market, the investment decreased. The falling of economic activities didn’t hinder the attention of startups and their activity in the field of cryptocurrencies. Currently, many startups are searching and developing their businesses and programs to use Ethereum platform, etc. to reach a result worth delving into. The increase of tendency and interest in Ethereum shows that Bitcoin will not be the only athlete in this market.

Ethereum and Startups

Many specialists believe that Ethereum can turn into a platform to launch different startups. Of course, in the beginning, it will be more useable for digital businesses and virtual startups. Probably it is a long way for this platform to organize startups which manufacture physical goods.

The decentralized platform of Ethereum helps startups to work through forming smart contracts without any fraud or scam. All these activities and operations are conducted on the Blockchain platform too which is a powerful and strong infrastructure for trades, communications, and ownership of virtual assets. Everyone can work on Blockchain platform all around the world, and there will be no prohibition on the part of international and state agencies.

It is interesting to say that Buterin himself has granted active startups in this platform. Of course, it is not just Ethereum which attempts to set the scene for various startups’ activities; many similar platforms are providing facilities for startups and businesses. These various platforms are trying to attract more users through removing security holes of their rival, i.e., Ethereum and creating more opportunities to form smart contract suitable for every specialized field of business.

Last Remarks

The existence of free and international platforms is not organized by a specific agency or group; they face various startups and businesses with new and unprecedented opportunities. The possibility of making international communication among startups around the world allows businesses to enter a new stage which are intermingled with many threats besides new opportunities.