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reputable companies utilizing Bitcoin’s blockchain technology will help to increase the currency’s acceptance. Due to these factors, we anticipate Bitcoin moving into a period of greater stability and adoption as a currency. This will continue to result in growth, but not at the breakneck speed of earlier years. However, it will not have the volatility of its infancy either. On the contrary, the future of the currency ether depends upon Ethereum’s technology being used. Ethereum made great strides in having its technology accepted as the blockchain standard when Microsoft Azure started offering it as a service in November 2015. Microsoft indicated it chose Ethereum over Bitcoin because “[w]hile a platform like Bitcoin has many great uses specifically as a Cryptocurrency, Ethereum provides the flexibility and extensibility many of our customers were looking for” (Gray, 2015). By offering Ethereum as part of Azure, Microsoft is making the technology available to far more users than would otherwise use it. This will help to spur further innovations. One industry that is already developing many uses for Ethereum is the Internet of Things (IoT). For example, the Ethereum computer could unlock doors when someone rents an office or apartment space (Tual, 2016). As more and more devices are connected to the Internet, the ability for them to interact with one another by using Ethereum’s smart contracts becomes ever more valuable. In fact, IBM believes that blockchain technology is key to the success of IoT. In a time when over a billion devices could be connected to the internet, “the blockchain is the framework facilitating transaction processing and coordination among interacting devices. Each manages its own roles and behavior, resulting in an ‘Internet of Decentralized, Autonomous Things’ – and thus the democratization of the digital world” (IBM Institute for Business Value, 8PDF Image | Ethereum vs. Bitcoin
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