Canada has developed as a dominating cryptocurrency nation based on its super-fast internet speed, innovation, low energy costs, and compatible regulatory changes. The country has emerged drastically and ranks third following the United States and the United Kingdom in terms of adoption of Blockchain technology. It has applied Ethereum Blockchain around the globe with diverse applications in government, education, health, finance, legal, multinational cryptocurrencies, energy, and basic coin offerings.
The study done by the Cornell University stated that the nodes of the Ethereum are distributed in both, geographically around the globe and latency space, contrasting to nodes of Bitcoin that are normally located in data centers.
Canada’s advancement and leading approach in Blockchain is attributed to the roots linked to the Toronto, which is the base of the Ethereum Blockchain innovator, Vitalik Buterin. It is an open-source platform, with wide-ranging scripting language that made a protocol for structuring trustworthy decentralized networks. It expands the functionality of the blockchain designed by Satoshi Nakamoto that powered peer-to-peer decentralized bitcoin payment with the inclusion of smart contracts, termed as scripting.
This feature enables the platform to accumulate, function computers, and facilitate developers to create trusted, permanent transaction and set up decentralized applications.
In 2015, the first public network of Ethereum was launch and backs the second-highest valued ether (ETH), at $63 Billion. Ethereum Swiss Foundation is financed by ETH and is utilized by application developers to pay for transaction services and fees on the Ethereum network.
However, Blockchain innovation isn’t the only thing where Canada stands out. As per Hydro Quebec, Canada has an influencing energy capacity equivalent to 100 Terawatt hours for more than 10 Years with the distribution of this service at lowest electricity rates in North America.
In the previous year, with the flourishing success in ICOs based on Ethereum that managed to raise $4 Billion around the globe, the administrators of Canadian Securities suggested that law of Canadian Securities can be potentially applicable to cryptocurrencies.
Before turning out to be a full-time writer and editor, James Tidwell was a blogger who wrote his outlooks and viewpoints relating to Entertainment and Sports. Owing to his interest and absolute fineness of playing with world beautifully, he was appointed to dabble in Entertainment and Sports world.