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Is Ethereum Becoming the New Platform for Startups?

The recent rise in the value of Ethereum has vaulted it to over a billion-dollar capitalization and second only to Bitcoin. Its value is more than four times the value of the third-place crypto-currency, XRP.

Ethereum was created by Vitalik Buterin, a college dropout who, although enthused by the potential for Bitcoin, felt that there could be a better platform.1 Buterin, who has been compared to Steve Jobs, feels that his creation provides a robust platform for others to develop on and create powerful applications.

Buterin recently released his first production-ready version of Ethereum but even before this release, there had been a rush of startups to utilize the open platform and create blockchain-based businesses for new products and services, or the support of their existing businesses.

In 2015, there was a rush of venture capital into Bitcoin and Blockchain companies. This year, the influence and potential of Ethereum are seeing venture money coming in specifically targeted to Ethereum based startups.

It is quite satisfying to see that blockchain technology has spread across to a variety of domains (other than just cryptocurrencies) and pretty much every industry is quite eager to incorporate it.

It has not only allowed the businesses to revolutionize their current use cases, but entrepreneurs are also taking the lead in coming up with robust ideas to transform their respective domains.



Top blockchain startups deserve the limelight in 2021 because of their uniqueness and the ability to reshape the industry.

  • OriginStamp
  • Solve Care
  • Genomes
  • Provenance
  • Bankera
  • Coinfirm
  • Elrond
  • THORchain
  • Fetch.AI

Forbes cites International Data Corp, which estimates that companies and governments will spend more than $2.9 billion on blockchain technology this year. That’s an increase of 89% from 2018! Moreover, the sum is expected to reach $12.4 billion by 2022.

It appears that the efforts of developing open blockchain specifications supported by the Enterprise Ethereum Alliance are paying off. For now, the Ethereum platform holds the lion’s share of business development, followed by the IBM Blockchain, Hyperledger, and Bitcoin.

The takeaway

The Ethereum platform has developed the largest ecosystem of cryptocurrency projects. Many companies have built their applications (DApps) on top of their blockchain. It’s also one of the few cryptocurrency projects to prove real-world adoption, making it attractive for investors.

With so many billion-dollar companies ready to partner with Ethereum, multiple Ethereum-based applications are being tested for a wide range of industries. That makes it the most built-upon blockchain to date.

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