Increasing Ethereum companies – A sign of world wide acceptance?

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By Lumai Mubanga. mlumai@gmail.com

Much like any other technological development, the crypto space has seen an explosion in the number of companies that have sprang up to directly or indirectly support the ecosystem. These companies, as diverse as their operations can be, are all focused to the same goal; that
is, perpetuating the influence of digital money and related transactions into the mainstream financial markets. The beauty about all these developments is that, the public is becoming more and more aware of this new phenomenon. The ultimate is to realign the financial system into integrating crypto currencies into every day transactions.

For example, one of the largest airline in Europe, the Swedish Airline recently announced that, its clients would soon begin to buy air tickets using crypto currency. The currency has not been named yet. Again, One of the largest car dealer companies in Japan called Beforward, has
already started accepting payment in cryptocurrency bitcoins, online.

So, what are some of the companies supporting the Ethereum blockchain and what roles are they playing? Here, we consider a few popular companies supporting Ethereum plarform.

1

ConsenSys can be best described as a software foundry. It facilitates a variety of enterprise applications, which operate on the Ethereum blockchain, and coordinates, incubates, accelerates, and spawns what it calls “spoke ventures.” It also invests in startups, build developer tools and offer blockchain development. This is a massive investment in just one cryptocurrency. The value that this company brings to the ecosystem is certainly valuable especially, when we consider the educational and the building of developer tools.

2

Then comes uPort, which is an identity management company. Its focus is to build trust in the ecosystem between the players. By enforcing the KYC principle, it builds tools that let customers and partners share data in a simple, secure, and privacy-preserving way. These are the very principles on which cryptocurrencies are anchored. These services are world class standards.

3

The popular Truffle development Suite, capitalizes on ensuring that the smart contracts that run on the Ethereum platform are supported. For example, the Truffle Suite gets developers from idea to dapp as comfortably as possible, thereby creating what they term as “sweet tools” for
smart contracts.

By using the Ethereum Virtual Machine (EVM), it has created a world-class development environment for testing frameworks, and asset pipelines for blockchain. In addition, you can use it to deploy contracts, develop apps, and run tests at the same time. This feature is
available as both a desktops and command-line tool. It supports developers across operating systems.

Then, there is the MetaMask, which links your web browser to Ethereum, and Gnosis, the prediction market Platform.

This innovativeness has contributed to the strength of the Ethereum market value, indirectly or directly and gives hope for a long-term deployment and stability of this cryptocurrency. If the level of investment is a sign of world acceptance, Ethereum is surely on the right track.

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