Microsoft recently launched a new platform for self-issuance of Ethereum based tokens. The question now about ETH’s price and its surge remains: Can Microsoft’s new platform, boost the price? Let’s find out in the Ethereum news today.
There has been a lot of FUD around Ethereum these days because of the very sluggish market in terms of price action. Regarding the technology aspect and wider adoption, Ethereum made a huge endorsement from Microsoft that can help the undervalued price move again. As we reported earlier, the software giant Microsoft created a platform for self-issuance of ETH-based tokens and the platform aims at enterprises that have already started minting their own tokens.
Currently, the users will have access to a permission version of the Ethereum blockchain that uses Microsoft’s Azure cloud computing to reach a consensus on the transactions. In the future, the developers will be able to use Azure Blockchain tokens on the public Ethereum blockchain which will eventually provide a huge onramp for ETH users.
The popular trader Crypto Cactus, explained that this is pretty bullish for Ethereum because it has become the most dominant smart contract platform in the world.
‘’Yesterday Microsoft rolled out a service that will onramp users to $ETH. This will include, bonds, documents, currencies, inventory, licenses, loyalty points, smart contracts and more. Most undervalued project in crypto?’’
There has been an increasing set of token building templates that rely on the token taxonomy initiative and will become available to enterprises soon. TTI is a standard initiative and also a consortium that is run by Marley Gray who is the principal architect at the Azure blockchain tokens platform. The platform is among the best that provides competing protocols such as IBM or AWS:
‘’We are creating a platform in the cloud where any token within the TTI framework can snap into place.’’
Ethereum is still the preferred choice for those who want a decentralized solution on a blockchain but the ETH FUD increased lately as the network approached its largest upgrade to the 2.0. This is why the community asks can Microsoft’s new platform help ETH since momentum is still lacking and nothing will happen until ETH breaks the psychological $200 barrier.
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