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Ethereum token, ether [ETH] He's on the road for better days, says Ian McLeod, a remarkable technology expert and cryptocurrency analyst.
McLeod, a technology expert with Thomas Crown Art predicted that the second largest cryptocurrency will experience a "price surge" that will see its price rise to $ 500 before the end of the year.
He explained:
"Ethereum is back in a bulls' territory and is going to make significant gains before the end of the year." I maintain that we can expect Ethereum to reach $ 500 by the end of 2018 and continue with a general trajectory towards high throughout 2019. "
Reason for the innovation of the price of Ethereum
McLeod continued to give reasons for his bullish prospect on ethereum. He said that this is based on progress in Oracle, a technology that could lead to greater adoption of cryptocurrencies in traditional applications.
He explained:
"However, what will be the monumental driver and determinant for his global breakout? Oracles: Oracles link the smart contracts of Ethereum to the real world and will be responsible for the digital currency to enter a whole new phase of mass adoption."
He explained that oracles, which are reliable data feeds that provide information in the smart contract, are becoming more useful for intelligent contract applications across all industries. These oracles allow smart contracts to access information directly outside their network, which would otherwise be impossible.
McLeod continued:
"Oracles represent a huge step forward in the practical use of smart contracts, allowing smart contracts to accept external data to decide on an action – and this has a myriad of real-world use cases. Highly demanded in almost all industries, for example, insurance companies can delay flight delays, sports betting companies with information on results from various reliable sources and can help us in the art world by demonstrating definitively the provenance of works of art in a quick and simple way ".
The McLeod organization, Thomas Crown Art specializes in creating blockchain art works; using technology to authenticate the work of art. This process uses a lot of smart contracts and McLeod notes that Oracles will play a significant role in this. "Oracles will further improve this concept and lighten the work processes of smart contracts," he said.
Ethereum [ETH] Price Watch
Ether [ETH] is currently trading at $ 211 according to CoinMarketCap data. He managed to stay above $ 200 from the start of the month after a short stint below $ 200 last month.
To finish the year around $ 500 as expected by McLeod, Ether should see growth of more than 100 percent in less than two months. He is convinced of this as he concludes:
"When Ethereum-based smart contracts are fueled with robust and reliable information through oracles to make accurate and correct judgments, the price of Ethereum will explode."
It is no stranger to the bold cryptocurrency claims. He recently predicted that ethereum will eat bitcoin dominance by taking away 50% of its market share over the next five years. This argued saying that "Ethereum is already light years ahead of Bitcoin in all but the price – and this gap will become increasingly apparent as more and more investors come into encryption."
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