Connect with us

Ethereum

Ebay with $10 billion revenue annexes with Enterprise Ethereum Alliance [EEA]

Ranjitha Shastry

Published

on

Ebay with $10 billion revenue annexes with Enterprise Ethereum Alliance -[EEA]
Source: Unsplash

Ebay, a multinational e-commerce company with $10 billion in revenue and $2 billion in yearly profits has recently joined Enterprise Ethereum Alliance [EEA]. EEA is an alliance that is built to customize Ethereum for industry players. EEA connects Fortune 500 enterprises with Ethereum subject matter experts, including Accenture, J.P Morgan, CME Group, Microsoft, and Intel.

Foxconn, a multinational electronics contract manufacturing company is also the latest of the companies to join EEA. Hon Hai Precision Industry Company Ltd is the anchor company of Foxconn. In 2016, Foxconn ranked 25th among Fortune Global 500. It stands as the world’s largest contract electronics manufacturer and the fourth-largest information technology company in terms of its revenue.

EEA mailing list mentioning new additions | Source: Twitter

EEA mailing list mentioning new additions | Source: Twitter

Their interest in Ethereum Network is presumably to learn how smart contracts can be utilized to keep track or on how ledger can be utilized in their financial prospects.

Joseph Lubin, co-founder of Ethereum, said at the EEA’s launch:



“Enterprises represent mindshare, they represent resources, In order to get the technology out, in order to make it ubiquitous, we need to speak to everybody and make ethereum inclusive.”

EEA is designed to serve three objectives according to their website:

  1. A clear roadmap for enterprise features and requirements
  2. Sturdy governance model and accountability, clarity around IP and licensing models for open source technology
  3. Resources for businesses to study about Ethereum and make use of this technology to address specific industry use cases

Rui V. Maia, Ethereum enthusiast, and a Twitter user commented:

“According to the official #EnterpriseEthereumAlliance newsletter, it is indeed true. The market doesn’t react much to these news, especially because we’re in a bear market, but all this enterprise support strengthens the ecosystem and will produce more innovation and adoption.”





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Ranjitha Shastry is a part of AMBCrypto's News Reporting Team. Having done her major in Journalism and mass communication, she is passionate about business and economic journalism.

Bitcoin

Bitcoin Dominance Index [BDI] falls short of Bletchley Ethereum Token Index [BETI] in 2019

Biraajmaan Tamuly

Published

on

Bitcoin Dominance Index [BDI] outperformed by Index based on the Ethereum blockchain in 2019
Source: Pixabay

One of the key factors which is often used to represent or indicate the potential of a particular cryptocurrency’s growth is its market capitalization. When the market capitalization of a coin or token showcases a positive hike, it usually has a positive impact on that particular asset’s market.

According to LongHash, the Bitcoin Dominance Index [BDI], which is used to measure Bitcoin’s market cap had been the dominant index since the beginning of 2019. It was observed that the BDI improved from 53 percent to 58 percent over the past few weeks after the largest crypto-asset underwent multiple price hikes.

XRP, which dominated Bitcoin by 1,600% back in 2017 on cryptocurrency exchange Bittrex in 2017, was currently down by almost 50% against Bitcoin in 2019. Ethereum [ETH] fared better comparatively, but was still down by 14% against the Bitcoin.

However, the Bletchley Ethereum Token, a token built on top of Ethereum, seemed to have outperformed Bitcoin this year.

The Bletchley Ethereum Token Index [BETI] can be utilized by investors for their allocation to tokens placed on top of the Ethereum blockchain. However, it should be noted that Ethereum is not a part of the index as it is an independent entity. The BETI is a weighted index, which means that the tokens with dominant market caps will take up a larger part of the index and the re-balance will take place at the end of a particular month.

For example, Tron [TRX] and Binance Coin [BNB] currently take up more than half of the BETI’s Weighted Index. Since the launch of their DEX, BNB has enjoyed a lucrative year with multiple hikes bringing the coin to $30 from under $6. Tron also witnessed major growth in market cap as it was up by 40% in comparison to the US dollar.



However, it is important to note that the major tokens on the BETI’s weighted index have all launched their own blockchain, at press time. Hence, it can indicate that the dominance enjoyed by BETI over the BDI over the last few months could point to a situation where the Ethereum blockchain was preferred for the launch of various tokens.

Despite the aforementioned reason, it is safe to state that Bitcoin was not the only entity which dominated the crypto-space this year.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending