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Ethereum Classic

Ethereum breaking news


For most people within the crypto world, the only virtual currency that matters is Bitcoin. But the truth is that, out there, there is a variety of cryptocurrencies with very different functions. Of whose development we must be very aware to know where the crypto community is heading. Among these virtual currencies, the Ethereum Blockchain occupies a position of honor.

Ethereum price continues to rise

One of the most important characteristics of Ethereum, as well as the vast majority of cryptocurrencies in the world. It is the close relationship between the price of Bitcoin in the market, and the price reached by the altcoins in the market. Well, usually, the BTC is the currency that imposes the trend to the entire market.

That explains why, right now both Bitcoin and Ethereum have a significant uptrend. Being the increase in the price of Ethereum much greater than that of BTC. Reaching a growth of 6.56% in the last 24 hours, compared to only 4.20% of the BTC.

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Ethereum chart of the last week

Thus, the price for each Ethereum would be in the order of $ 209.97 per ETH. After having arrived to locate, as of Friday, January 31, around 175 dollars for ETH. What gives us the good moment that the cryptocurrency lives, taking advantage of the initial momentum provided by BTC.

Ethereum will be used by the aeronautical sector

This growth in the price of Ethereum, is also justified thanks to the multiple functionalities that the cryptocurrency and its Blockchain have. What makes it one of the most flexible virtual currencies in the world. And to its blockchain, probably the one with the greatest number of functionalities.

Therefore, it is interesting as sectors so little related at first sight with Blockchain technology, such as aeronautics, decide to integrate into the crypto world. As would be the case of the alliance formed by companies that are responsible for the maintenance and repair of aircraft. And that they would use the Ethereum Blockchain to sort and sort all the pieces of their business.

According to estimates made by the audit firm, PwC, this alliance of companies that are integrating the Blockchain into their sector. It could save them 5% in the total cost of their operations, also generating a 4% increase in the profits of the aeronautical sector as a whole.

Consensys continues to go through a tough crisis

However, not everything can be happiness within the Ethereum Blockchain. Well, while the price of cryptocurrency does not increase, an iconic company within the ETH chain as Consensys is, is going through one of the worst moments in its history.

Thus, the company responsible for software development based on Blockchain technology. It is having to make massive cuts in the company’s staff, affecting at least 14% of workers. At the same time, the company has decided to divide into two, with a wing that will continue to be dedicated to software development, and another branch or subsidiary dedicated solely to financial investments.

Despite all this, the truth is that the result could have been much worse. Well, until Consensys informed the correct number of employees that he would have to let go. Termination figures were expected around 60% of the company’s payroll. At a time when the company, based on Ethereum, is going through an important restructuring process to remain competitive.

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International Studies student, interested in economics and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and cryptocurrencies in particular.

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