Crypto is one of the most popular investments today that provides higher returns than many traditional investments. And Ethereum is the second-largest cryptocurrency after Bitcoin. However, now the price of Ethereum is going down day by day. So should you invest in it?
According to the report of the Weiss Crypto Ratings, by 2025 the price of Ethereum will reach $ 7,000. The analysts of this company are very optimistic about the future of Ethereum. They believe that the mass adoption of this cryptocurrency will continue in the future.
But it doesn’t mean that you should invest all your money in Ethereum. Because the future always is not written and anything can happen in the cryptocurrency market. So, you should invest that much money in Ethereum which you can afford to lose.
Now, how much the price of Ethereum will increase in the future, is still not known. Because it depends on many factors such as global economic conditions, innovation in the Ethereum network, etc.
So should you invest in it or not? That’s why you should read this article till the end. In this article, I will share with you the future of Ethereum including price, mining potential, wallet, and trading. So, let’s get started!
So What are you waiting for, let’s Start:
Is The Future of Ethereum Secure?
It is obvious that before knowing anything about Ethereum. The first question that pops up in your mind is whether the future of Ethereum is Secure or not.
No one can guarantee this, as cryptocurrency itself future is not certain, but there are a few things that could give us confidence in the future growth of Ethereum.
Ethereum is a smart contract, which allows people to contribute their knowledge to build decentralized technology.
Hence, it is not the self-own company but the contribution of many, which could help us to put belief in it.
Anyways what is Currency?
Something which helps you to buy goods or your needs is called currency, it doesn’t matter what it is. Such as, if you are able to buy coffee in exchange for paper then the paper is a currency for both of you.
In the same way, if the large community accepts Ethereum as a valid object to trade then that call Currency.
It was an ancient time when people were using goods to exchange services or goods of need, as time changed, the form of currency got changed to start from goods to paper currency then plastic currency and now it’s time for Decentralised currency.
And good thing is, that Ethereum is among the top3 choice of every Crypto investor which seems its future is secure.
This is not the End, before learning in depth about the Future of Ethereum let’s first understand the basics of Ethereum.
Introduction of Ethereum
Ethereum was introduced back in the year 2015 by developer vitalik Buterin, it is Blockchain based open source decentralized technology.
It was introduced with a vision to trade every digital asset on decentralized technology.
It was the first blockchain technology, which allows people to contribute and build their own assets without any third-party contract.
The important part of Ethereum is the first platform that allows traditional programming languages to build their application on Ethereum Blockchain.
Ethereum-based technology is safe, secure and trusted and free from any fraud.
Using Ethereum blockchain technology anyone can create their own token and a fixed limit of generation for the same, it is open-source, and created token will be mainly known as ERC-20.
Whenever such a token is released in the market through ICO or any other trading sources you can trade using Ethereum’s own token called Ether or Ethereum.
Ether is the basic Cryptocurrency of Ethereum which actually act as a fuel to clear Ethereum transactions, it is also known as Ethereum(ETH)
There are a few examples like – EtherEcash, and Bithercash find more list here
After Bitcoin, Ethereum is the second best choice for everyone It has a transaction clearance time of an average of 15 seconds for each block and can clear around 16 transactions per second which are far better as compared to an average time of 30 minutes for Bitcoin.
But Crypto is evolving day by day new technology is emerging with proper solutions and one of them is the EOS Blockchain network which is debated as Ethereum Killer, How?
Check our ultimate guide on EOS Blockchain, which will clear all your doubts.
Now the point is how to do the transaction, does it has any wallet?
The answer is given below:
It is always a basic need to hold any currency, as we have bank accounts to hold centralized currency like the Dollar, pound, euro, etc in a similar way we should have a wallet, which could hold cryptocurrency.
And in case, if someone wants to trade using Cryptocurrency then there must be a sending or receiving details of the trader.
In the real world, the way we have our home address for identification where anyone can send anything belongs to you in a similar way in the Crypto world we have Crypto Address which belongs to you only.
This Crypto Address belongs to a wallet that is registered with Your name or Account.
If anyone is willing to send any Ethereum coin or Token to you, then he has to send that to your allocated address and coins will be available in Your Wallet.
Now the question is what are those wallets which accept Ethereum?
Bitcoin and Ethereum are widely used and the most famous cryptocurrency and almost every single wallet have the facility to accept this coin such as a wallet called a Microwallet.
Ethereum itself holds its own wallet called MyEtherWallet, which is free and quite easy to use and only helps you to hold Ethereum-based ERC-20 Tokens.
Do remind you, there are various types of Wallet
1. Desktop Wallet
This type of wallet, you can download and install on your Desktop. They are available in lightweight clients and you can store your coin in them. Such as Exodus
2. Paper Wallet
In the current cyber hack issue, a paper wallet is the safest way to hold your cryptocurrency. It is possible using MyEtherWallet, where simply generate a paper print of an Address that has a few digits of code written on it and that will be your Crypto Address
You can make this secure by putting anywhere you want and it will not vulnerable to hacking issues.
3. Hardware Wallet
This type of wallet is a kind of hard disk but well secured and only made to hold your cryptocurrencies such as Trezor, and Ledger.
But there is a huge list of well-known Micro-wallet which support Ethereum and many cryptocurrencies in a single wallet and very easier to do transactions.
Few of the Examples like
Read – Best Cryptocurrency Wallet
I hope You enjoyed learning, wait still a few more things are left
How to Mine Ethereum?
There are a few ways to get free Ethereum coins and one of the best ways is through mining.
Mining is a process, we’re using a high-power computer or miner your device will try to solve the algorithm or mathematical problems associated with each Ethereum transaction.
As in the real world, we have a bank that verifies the identity and authenticity of the transaction but here in the decentralized world we don’t have any authority to do so.
Here Mines comes into the picture, which is a group of people competing with each other to authenticate those transactions and register them into the blockchain.
Whoever is able to do so, will get Ethereum as a reward.
There are a few recommended ways to mine Ethereum
- Pool Mining (Recommended)
- Self Mining
- Cloud Mining
But to mine Ethereum is not easy after 2017 popularity, but if still, you want to invest in it then you can do it by above-suggested methods
If you are planning to start mining then I strongly advise you to have a look for a detailed guide on the best hardware, software, and best mining pool to start Ethereum mining.
Future of Ethereum
I hope you already got quality information on what is Ethereum, what are Ethereum wallets, and how to mine Ethereum.
If we will go back to the year 2017 when all cryptocurrencies were traded to the best of their value then Ethereum was the second largest in price.
so it proves that Ethereum was among the best choice to pick during the golden era or Cryptocurrency.
Now there are a few points which look positive and negative too. will discuss same.
This time decentralized technology Blockchain is widely accepted by various companies and Ethereum is the solution for Bitcoin’s drawback.
There are a few companies like Airbnb and Uber has started developing their apps on Ethereum and if this got successful same as a centralized application then Ethereum could touch the new height of the sky.
In the coming future, only those who will be able to provide service in a minimum time will win the race and as I said Ethereum clears only 15 transactions per second which is far less than other currencies like NEO.
NEO has the capacity to clear around 10,000 transactions/Second which is far better than Ethereum and NEO came with the same vision and ideology of Ethereum which provides the smart contract to the third party to develop technology on NEO Blockchain.
Ethereum team is aware of this issue and they are planning to change their technology from Proof of Work to Proof of stack because this makes their speed very slow.
Let me tell you, what it is and what the team is willing to do with this.
Proof Of Work To Proof of Stack
It is currently used technology by Ethereum, which makes miner very hard to solve a complex algorithm and create a competitive environment to mine Ethereum.
In Proof of Work, every miner uses their devices and tries to solve very complex problems at a time and this makes things very complex.
But Proof of Stacks is different, where at a time only a single miner will mine the coin and all others are in the queue where everyone will get a random chance to mine Ethereum.
Here the condition is, that the miner has to stack Ether coins in their mining pool and they will be able to mine only a stack worth of coins.
So Ethereum team is planning to switch from Proof of Work to Proof of stack.
Yes, Of course, this could create a monopoly in the market but will improve per-second transactions which is the ultimate goal of Ethereum.
Ethereum Price Prediction
I know that everyone one has only question, How high can the price of Ethereum go?
But it is very hard to predict, as in 2017 it increased from 13$ to 1300$, which was unexpected.
But the way people start believing in it and accepting this as the form of currency can change the face of cryptocurrency and if this so happens then Ethereum will be in the top 3 list.
From the below stats taken from Statista it says currently around 6-7 lacs transactions happened on an everyday basis.
All around the world currently 28 Million active wallets for Ethereum, which is a very huge community.
The best part is everyone is hoping to be the best and if you are in the same loop then remember what is the currency, something which allows you to trade and 28 Million is more than enough.
It is not easy to forecast the price of Ethereum, so just focus on Ethereum news released by the official media page which will guide you to the wave in Ethereum.
If you will still ask me, if should I buy Ethereum then check the detailed guide with all points highlighted.
I did my best to share valuable information with you now it is your time to tell me or your friends what is the future of Ethereum?
Conclusion: The Future Of Ethereum
I hope you get all around the information about Ethereum and if you have read from start, then I am quite confident that you are nothing left with Ethereum to know.
It is far obvious that in the smart contract market is a very huge competition and to beat them, Ethereum requires much more changes, and hope they will be able to fix those.
In this article, we have covered Ethereum and ways to mine Ethereum and the best part is a wallet that helps you to hold currency.
Hope I highlighted possibilities for the future of Ethereum. I tried my best to grab stats from various sites to help you better understand what is going on all around the world.
As become the first project based on the smart contract, it will always be a market leader but still future is uncertain because Cryptocurrency like NEO is competing with them very hard.
Now a day people are also debating that EOS is going to be the Killer of Ethereum, Do you know what is EOS?
If did not then check our ultimate guide on how EOS works and how much is growing day by day.
Now, this is the end of my ultimate guide and view of Ethereum, and hope the future of Ethereum will be bright.
If you are willing to invest in any cryptocurrency or willing to mine Cryptocurrency then I thought this might help You.
Now it is your time to share this with all your social media friends to understand, What is Ethereum and what is Future of Ethereum is.
FAQ: What Is The Future Of Ethereum (Bright Or Dull)
Understanding Ethereum’s future might be tough. That’s why many people, like you, have a lot of questions that may be quickly answered. Here are some of the most commonly asked Ethereum-related queries.
Q1. What will be the value of Ethereum by the end of this year?
Ans: Usually, it depends on the market and other global factors. But according to our Ethereum experts, the value of one ETH might be around $12000 by December 2022.
Q2. When Should I sell my investment in Ethereum?
Ans: It depends on your personal investment goals. You might want to sell your investment when it hits a particular target price or when you need the cash for other purposes.
Q3. How much does Ethereum continue to fall this year?
Ans: Only time will tell how low Ethereum will go in 2022. However, some experts have predicted that Ethereum could fall to as low as $300 by the end of the year. But then after it will bounce back and reach $5,000 by 2023.