The last few days have been rough to Ethereum (ETH) fans as the price of Ether, the base currency on the blockchain, dropped to levels last seen in July last year. With a current price of $202 USD, the coin has seen its value shed by 85% since the highs witnessed in early January and has been struggling since the recent selloff in September.
The heavy plummet of Ether’s price has consigned with the resurrection of Ethereum Classic (ETC), mass adoption of internet of things technology and a rise of the hybrid blockchain. The latter two acts are heavily dominated by two blockchains on the map in Iota (MIOTA) and XinFin (XDCE).
Could the three blockchains–Ethereum Classic, Iota and XinFin Network–be the answers to the troubles faced by the pioneer smart contract platform, Ethereum?
1. IOTA blockchain (MIOTA) the leader in IoT technologies.
Iota Foundation, the custodian of the Iota project, has made partnerships with some of the largest automobile makers in the world in Audi and Volkswagen to test their technologies to better autonomous cars technologies. The increase in internet of things (IoT) technologies across the globe will offer a platform for IOTA blockchain to be the best in offering a decentralized peer to peer platform.
Ethereum has long offered a smart contract platform that allows users to create decentralized platforms on it. However, the rise of IoT connectivity and “things” communicating to each other across the globe is reaching its blow out region as most companies venture into the industry from home appliances, shoes, automobile industry etc.
2. XinFin Network (XDCE) hybrid blockchain
IOTA does not offer a direct competition to Ethereum blockchain however much the blockchain may end up being the best in the world. XinFin Network is a hybrid blockchain that solves Ethereum’s slow transaction times and high fees by offering a hybrid blockchain solution to push for global economic freedom.
The XinFin platform runs on the XDC 01 Protocol (built on the Ethereum blockchain) to offer instant payments and transactions across the system. One of blockchain technology brightest stars offers a hybrid model blockchain that will overpower Ethereum’s public blockchain. It offers corporations a private platform to make transactions that are confidential and private unlike Ethereum.
Not only does XinFin offer a superior platform to Ethereum but also a cheaper option to invest in a future world beater. The XDCE token currently trades at $0.000858 USD, offering a discounted buy in price for the token.
3. Ethereum Classic (ETC) taking back lost glory
As noted earlier in the article the fall of Ethereum comes at a time that Ethereum Classic, the ‘forgotten’ hard fork, has regained its feet development-wise and on the charts to. Furthermore, the blockchain has adopted the IoT technology that gives it an advantage over its sibling chain. It may be a case of Ethereum winning over the fans of Ethereum as the coin offers a cheaper option to buy and a strongly secures platform.
Nevertheless, ETC has gained a considerable number of listings on exchanges across the board with the Coinbase listing placing it on par with Ethereum in pride and future prospects on success.