In the recent days the future of Ethereum has been in a turmoil. Investors had lost confidence on this virtual platform as it failed to meet its claims of higher scalability. The developers failed to introduce any major change in the way smart contracts are executed, which is a key requirement for the success of any virtual transaction. The developers have also not made any announcements about adding new coins to the existing eth exchanges. All these factors lead to one conclusion that the future of ether is bleak.
According to Vitalik Buterin the inventor of ether, “The first year of Ethereum was great. But we hit a rough patch from June to August. There was an insufficient period for the community to bounce back and fix some mistakes before the second year began.”
However, Buterin states that the team is working on the problems that they have spotted and will be able to introduce the second year of the Ethereum network with Raiden. The Raiden network will offer users an improved experience during transactions. Buterin believes that the future of the currency industry will be bright as long as Vitalik Buterin and the other co-founders keep on innovating and building the cryptography that is essential for the functioning of the entire cryptocurrency industry. He says, “ICO companies and startups will continue to innovate. And I believe that we can continue to make the progress that we made during the past two years”.
According to Vitalik Buterin the team is working on improving the scalability problems that are facing the ethereal network. According to Buterin, “We did not introduce a new token during the ether upgrade, we just enhanced the functionality of Raiden, which is already used by the bigger players in the space. Now we are working to enhance the network’s scalability. And we are planning to do this in six months”. This was the message that was conveyed to the shareholders of ethericstore.
Vitalik Buterin did predict that there will be two forks of the distributed ledger when the network becomes more popular. However, he did not provide any future price prediction. The newsletter sent out by the team also indicated that they are planning to increase the supply of ether to twenty-four million before the end of the next year. It is not clear as to what the investors thought about the future of the ethericstore enterprise and the future of the etherium price prediction.
However, it is evident that Vitalik Buterin and the rest of the team at ethericstore are trying to raise enough funds so that they can launch a new token called Raiden. However, the investors must be careful as the distribution of the tokens will depend on the results of the Raiden network survey. The developers have also sent out a newsletter indicating that there will be two major products based on the distributed ledger technology. The first product is called Mist and the second one is known as EFRICO.