Over 359 External Companies Aim to Build the Future on EthereumJanuary 17, 2020
Some people speculate that the potential of Ethereum (ETH) blockchain in surviving into the future is not very clear. That’s because there are no leading companies across the globe tried to build decentralized applications on the platform.
Because of the negative sentiments that surround the crypto space caused a huge damage to the reputation of ETH. Across the crypto community, many are asking who will exactly build on Ethereum.
Following this issue, there are some allegations that the Consensys or Ethereum Foundation will supposedly finance the development of decentralized apps and then use them based on the network of the project. On the other hand, those taunts are obviously unfounded.
Now, there’s a recent list of companies that bring new hope that more than 359 some of the most respected companies in the world work hard to build the future on ETH.
Building on the Top of ETH protocol
For the record, Bitcoin (BTC) was the first crypto introduced to the market. BTC might be the first ones, but many cryptocurrency assets came after to solve the issues surrounding the BTC protocol or even expand the capabilities of cryptos.
On July 30, 2015, Ethereum was launched as a platform designed for decentralized applications. it is currently the leading platform dedicated to DeFi (decentralized finance), which is a concept popularized by MakerDao.
Adam Cochran, who works for an Internet privacy company Duckduckgo shared data on Twitter. His tweet feed reads, “You may have heard the crazy claim that ‘no one really builds on Ethereum’ and that ‘all the products being built on Ethereum are paid for by the Ethereum Foundation or ConSensys.’”
The largest corporations in the world like Standard Chartered Bank, TD Ameritrade, Credit Suisse, Banco Santander, Accenture, Ernst and Young, Amazon Morning Star, Uber, Intel, Microsoft, Nike, as well as NBA superstar Spencer Dinwiddie made an incredible effort to launch ETH-based decentralized solutions.
The Value of Ethereum Is Driven Through Utility
Over the past two years, Ethereum experiences significant losses due to the fact that no one building on it.
Back in 2017, where both the ETH and BTC soar to all-time highs, there were released new altcoins. Although most of these altcoins are aimed to move to their own market, the Ethereum’s visibility drove the altcoin’s price to a peak of $1,400.
Following the bubble popped while the ICO rise, the value of ETH plummeted. As a result of extreme lows, the entire crypto space called for the collapse of Ethereum.
In 2018, ETH hit double digits, which lead to bottoming at $80. However, it’s not true that there are no projects being developed on Ethereum.
Based on the recent list, more than 359 projects outside of ConSensys and The Ethereum Foundation are known to build on the protocol.
Given how large the list is, it serves as an eye-opener that a lot of biggest brands in the world are building on ETH. Not only that, but it also suggests how much potential Ethereum is holding in the future.