- 08 Jul, 2018
Blockchain based financial models are extensively studied by financial experts across the globe. The financial institutions in the U.S are rating Ethereum blockchain higher than the bitcoin blockchain. The preference was due to cost involved in mining Ethereum is low and the Ethereum blockchain is considered as more robust, flexible and versatile with plethora of applications. It allows smart contracts and build other decentralized applications on its blockchain. Ethereum is still affordable to the crypto investors and has manifested stupendous growth from mere $8 to over $350 in less than a year’s time. The lower price may attract investors and accelerate the Ethereum market growth over the coming years. The data processing and verification process on Ethereum blockchain is faster (12 seconds) as compared to bitcoin blockchain (10 mins).
Major American banks such as Brown Brothers Harriman and MGT Capital have begun to explore Ethereum blockchain with investments pouring in from other banks and capital companies. The growth of cryptocurrencies, more specifically Ethereum is anticipated to remain strong.