Ethereum price is very much dependent on the usability and the value derived from its use. This is why it is important for investors to follow the enhancements to Ethereum’s usability and more specifically the changes to its code to be ahead of the game.
Two Ethereum based projects that we find particularly interesting are “Whisper” and “Alchemy”. If successful both will provide Ethereum users with more anonymity. Here is how.
Whisper project, anonymity and future Ethereum price
Whisper is a communication protocol for DApps to communicate with each other aiming for faster and more anonymous DApps communication.
How is this protocol going to make Ethereum more anonymous?
To collaborate on a transaction, DApps need to signal to each other. Whisper should allow transactions to happen without the eventual archival of information.
Whisper basically provides a “dark” (plausible denial over perfect network traffic analysis) to two correspondents that know nothing of each other but a hash.
The protocol (Whiper) will fragment the process streams into parts and apply an All Or Nothing Transform to the entire package. Then if parts of the message are intercepted but not the complete message, it is impossible to assemble the data, not even for analysis purposes.
The outcome is a faster, safer transaction with enhanced anonymity which should drive increased use therefore bullish for Ethereum price.
Alchemy project, anonymity and future Ethereum price
Do you rememder Zerocoin? The project that was initially started to provide Bitcoin with a new privacy level and resulted in Zcash?
According to the info shared in the initial Zerocoin project documentation:
With the new Zerocash protocol, Zerocoin allows direct anonymous payments between parties. Zerocoin transactions exist alongside the (non-anonymous) Bitcoin currency. Each user can convert (non-anonymous) bitcoins into (anonymous) coins, which we call zerocoins. Users can then send zerocoins to other users, and split or merge zerocoins they own in any way that preserves the total value.
Now back to our Alchemy project. This project is trying to provide similar anonymity enhancement as mentioned above but to Ethereum this time.
In fact, Project Alchemy is a collaboration between Ethereum and Zcash’s R&D team members to achieve the following 2 goals:
- The integration of Zcash’s cryptographic engine (zk-SNARKs) into Ethereum which should enhance Ethereum’s Anonymity
- Allowing a decentralized exchange (order execution) between the Zcash and Ethereum’s blockchains.
If successful, this project should increase the usage and value of both Ehthereum and Zcash.
To conclude, our Research Team wants to stress the importance of following both the financial aspect and the technological developments of cryptocurrencies. Seeing that developers are contributing to the code of a Cryptocurrency or a coin, new collaborations with other teams and how alive the project are all solid indicators that can give investors clues on the future of a cryptocurrency. So far, the outlook remains positive for Ethereum and our Bullish forecast still stands.
Meanwhile, our Team remains dedicated to informing our readers of the most important updates, specifically the ones that can impact Ethereum’s price. An important event we believe can impact Ethereum’s price is the upcoming Ethereum Upgrades, we published the following series of articles about this upgrade:
- Enhanced Anonymity for Ethereum Coming, Bullish for Ethereum Price
- Ethereum Price and the Upcoming Metropolis Upgrade
- Raiden Network, Ethereum’s Powerful Version of the Lightning Network