Why is Ethereum (ETH) so popular among enterprises?

Ethereum seems to have become the preferred blockchain network for enterprises. What are the advantages of Ethereum?

1. First-mover advantage: Ethereum is the first programmable blockchain. Its blockchain has a Turing-complete language and smart contract functions.

2. Well-designed: Most cryptocurrency projects are highly spontaneous and emerge and die quickly. On the contrary, compared with other crypto projects, Ethereum is a well-designed, high-credibility project with a steady development plan, with a clear roadmap and expansion vision. Its white paper was released in 2013 and went online in 2015. .

3. Open source system: Ethereum’s public chain is an open source system, which means that anyone can join the project and contribute to its growth and development. This is a major advantage as it allows anyone to contribute to the development of the ecosystem. Private chains do not have such great advantages.

4. Massive support: Ethereum has the largest community of developers working on its blockchain protocol. Thousands of developers are working on the Ethereum ecosystem, and the project is supported by mid-sized companies and large enterprises. In addition, Ethereum receives monitoring from the Ethereum Enterprise Alliance (EEA) and Hyperledger and continues to contribute to the development of the project.

5. Private Transactions: Privacy between businesses and Ethereum can be achieved through private consortia with a private transaction layer, JP Morgan’s Quorum is a good example. In addition, enterprises can now achieve the privacy of public chains through Ernst & Young’s Nightfall protocol.

6. Rapid deployment: It’s easy for developers and enterprises to get started using Ethereum. One-stop BaaS platforms such as Microsoft Azure and Amazon Managed Blockchain Services, as well as software-as-a-service (SaaS) platforms such as ConsenSys-powered Kaleido, try to make it easy for enterprises to develop their own blockchain networks. New tools and development kits are constantly released to enable easy adoption of Ethereum in enterprise and commercial applications.

7. Interoperability: Enterprises can develop private/permissioned blockchain networks based on Ethereum and plug them into the public Ethereum mainnet to enjoy a large, active, high-value public blockchain and all parts of its ecosystem . One example is PegaSys’ Pantheon, Ethereum’s first public chain-compatible enterprise client. All in all, Ethereum’s interoperability essentially keeps enterprise blockchains updated as it provides enterprise blockchains with global reach, a wide network of users and DApps, and ongoing development and upgrades.

8. Invest: The price of Ethereum’s native cryptocurrency, ETH, has increased by more than 9,000% since its launch. Early adopters and investors benefit from excellent returns on investment, and ETH prices are expected to continue to increase over time. This is also the most noteworthy point for the general public.