Visit - https://t.me/btctradingclub
Visit - https://t.me/bestbitmexsignal
Since its launch in 2015, Ethereum has been considered the successor to Bitcoin because it offered tools that allow programmers to create apps that could perform transactions automatically. Now, however, Bloomberg reports that Ethereum is losing market share.
According to the publication, long-promised projects are now being delivered on rival platforms and several startups have begun using cryptocurrencies such as EOS and Stellar to raise funds through ICOs.
Kyle Samani, co-founder of hedge fund Multicoin Capital Management stated, “The simple reality is that until the last six-to-nine months, there were no other options besides Ethereum. Now there are.”
The increasing popularity of rival projects has had an impact on the demand for Ether, which has been range-bound for some time now. Furthermore, Bloomberg argues that online video-game players don’t have to depend on Ether to purchase in-game items.
“Owning Ethereum today is a call option on what you think the network is going to be in the future," said Travis Kling, founder of crypto hedge fund Ikigai. “To the extent that Ethereum competitor projects get traction with developers, with users, with dApps built on top of the platform, that will be viewed by the market as being detrimental to the overall value of Ethereum, and that can have a negative price impact on Ether."
Read more: Vitalik Buterin says Ethereum needs 100,000 transactions per second
Additionally, data from DappRadar has suggested dApp market share has been shifting. Just 28% of dApp users were on the Ethereum network as of January. A year earlier it was 100%. EOS now claims 48% of active dApp users while Tron has 24%.
Patrick Barile, Chief Operating Officer of DappRadar explained, “The reason why they got so much adoption, those new protocols, is that they offer considerably better speed, transactions per second. “The volume of transactions they can do is considerably higher. That means if you have a dapp, then you have a much better user experience."
Visit - https://t.me/btctradingclub
Visit - https://t.me/bestbitmexsignal
Crypto exchange KuCoin has announced that it will now be enabling credit card payments. Users will be able to purchase cryptocurrencies directly using MasterCard or Visa.
Direct card payments are becoming increasingly common in the crypto space, with top exchange Binance first announcing its own support for credit and debit cards back in January. Many have predicted that this growing support for card payments could signal the end of fiat-crypto broker Coinbase's dominance of the crypto space.
Card payments will definitely be a positive thing in terms of convenience, and encouraging more widespread adoption, but many have pointed out that they do also introduce an additional element of centralization into crypto. Like Binance as well as eToro and other leading crypto companies, KuCoin is making use of Israel-based financial institution Simplex to process its payments.
Visit - https://t.me/btctradingclub
Visit - https://t.me/bestbitmexsignal
After reportedly conducting tests with blockchain, chief executives of Wells Fargo and MasterCard have concluded that the technology is overrated, producing nothing more than hype thus far.
The two CEO’s told CNBC's Andrew Ross Sorkin at the Fintech Ideas Festival on Wednesday that they believe blockchain has long term potential, but currently, its business use-case is still unclear.
“Blockchain has been way oversold,” Wells Fargo CEO Tim Sloan said on stage at the conference in San Francisco. “I think the fundamental technology is very interesting, but it’s been very slow to roll out.”
Sloan referenced a pilot the US bank did with Commonwealth Bank in Australia, using blockchain for trade transactions. He stated that blockchain “consortiums and pilots” within the bank have yet to gain any real adoption, stating that the pilot resulted in just one transaction.
“If you turned the clock back a few years ago, it should have completely changed the industry — that’s just not the way it works,” Sloan said. “Over time, I think it’ll have an impact.”
