2021-8-9 17:21 |
David Nelson, reporter at Coindesk, discusses the Ethereum (ETH/USD) forking, the investment potential in Ethereum versus Bitcoin (BTC/USD), and other related developments on Worldwide Exchange on CNBC. When asked by the host to explain the recent forking, he replied:
“With the recent runup in crypto prices you see investors with a bigger risk appetite. With the forking of the Ethereum we’re seeing a move that would really make it more efficient. There are so many issues with the growth of Ethereum. And with crypto overall because of how many transactions can run through that network. What we’re seeing with this forking is an effort to change how things work behind the scenes so that it gets better at processing transactions and a lot more efficient too.”
Asked whether he believed the post-forking rally was going to stay, whether it was a short term anomaly ‘under the hood’ considering the recent bear run and what he thought about the future path, Nelson responded:
“It’s really hard to track where the prices are going to go from day to day, but the forking will keep the price of Ethereum up in the long term as investors look to what’s trying to become a world computer of sorts and they’re seeing that it is actually working better under the hood in terms of what it’s about to do. When you have a network that works better, you’re able to do more with it, and if you’re able to do more with it, then you have more of a use case. With more of a use case, you can see the price might be a little more sustainable going forward.”
He added that for insiders, Ethereum stands out as an appealing investment because there’s a lot more you can do with it than with Bitcoin. It has great potential with many things that can grow from it.
The post Coindesk’s David Nelson: Forking will keep the price of Ethereum up in the long term appeared first on Invezz.
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