Ethereum has seen tremendous growth since its initial launch in 2015, with the blockchain being one of the few besides Bitcoin to incur tremendous utilization while also expressing an ability to scale and adapt as the ever-changing blockchain industry continues to develop.

The blockchain’s considerable promise has been further confirmed by recent news surrounding the release of a “Baseline Protocol” from Microsoft, ConsenSys, and EY aimed at allowing firms to utilize the blockchain to connect internal resources and streamline resource planning.

This comes as one notable investment fund manager is now calling Ethereum a “call option” on the “next-gen” blockchain of the future.

Earlier today it was announced that Microsoft, EY, and ConsenSys are all banding together to develop what they are calling a “Baseline Protocol” that allows companies to easily use Ethereum’s public mainnet.

As reported by CoinDesk, John Wolpert, the head of We3Studios at ConsenSys, spoke about the release of this new protocol, deeming it as a “boring” way to utilize Ethereum’s blockchain as message-oriented middleware.

“It’s about changing the mental model from system of record to middleware… That’s a pretty boring way to use the blockchain. I think we could use a little boring.”

The Baseline Protocol will be released later this month and will be governed by a technical “steering committee” that will include notable companies and institutions like Microsoft, Duke University, ConsenSys, Chainlink, MakerDAO, and others.

Naturally, Ethereum’s wide utilization has made it attractive to investors, and although some critics have pointed to scaling issues and controversies surrounding the transition to ETH 2.0 as potential faults, its long-term prospects still look incredibly bright.

Spencer Noon, the head of crypto investments at DTC Capital, spoke about Ethereum in a recent tweet, in which he lauds the blockchain as being “next-gen,” calling ETH a bet on the future.

“ETH is an investment in a blockchain that already works and is widely used today, a call option on a next-gen blockchain for tomorrow, and in a community that is uniquely equipped to navigate an uncertain future for the entire space. I’m not one but I understand its maximalists.”

Although from an investment perspective Ethereum still remains highly correlated with Bitcoin, as the markets mature it is probable that investors will favor ETH over some of its competitors due to its heavy enterprise utilization and bright long-term outlook.

The post These simple factors show that Ethereum is a “call option” on the future appeared first on CryptoSlate.

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