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Ethereum-based decentralized applications (DApps) continue to draw industry attention as the world’s fifth-largest electrical company tests new solutions pushing Ethereum price up.
Électricité de France (EDF), the world’s fifth largest electrical company has joined hands with Ethereum application “iExec” to explore different blockchain-based use-cases and solutions.
As per the CoinDesk report, the electrical giant will run its visual simulator software GPUSPH on iExec. EDF wants to checks the odds of running GPUSPH on blockchain against the normal computing environment.
Basically, the software simulator explores a field for modeling fluids called the “smoothed particle hydrodynamics”. The GPUSPH application is also used to study other things like lava cooling and water dams. EDF wants to test whether using the Ethereum blockchain network adds any benefits to the simulator.
Speaking to CoinDesk, EDF blockchain engineer Gilles Deleuze, said:
“In a wider perspective, […] development of distributed computing is a credible scenario for the future, and blockchain may be a nice lever in this scenario. So, let’s explore it.”
However, Ethereum has been going through several scalability issues over the last year. But the iExec application running on the Ethereum mainnet remains unaffected by it, as they have indigenous “scaling solution”.
Jean-Charles Cabelguen, iExec head of innovation and adoption, explains several advantages of using the Ethereum-based application for GPUSPH. The iExec application offers clear monitoring of computational and state power along with increased “resilience” for the app. Thanks to Ethereum’s decentralized network.
“The heavy computing is done off-chain and does not overwhelm ethereum. Afterward, blockchain is used to reach a consensus on the validity of computation’s results. A hash of this result is stored on the blockchain,” said Cabelguen.
Ethereum (ETH) Price Skyrockets to 2019 High
The Ethereum (ETH) price has surged by nearly 15% in the last 24-hours. At the press time, Ethereum (ETH) is trading at $262 with a massive $16 billion in daily trading volumes and a market cap of $27.9 billion.
The majority of the price rally in Ethereum has come in just the last seven days. Over the last week, Ethereum has added more than $90 to its price making over 50% jump in such a short time. Although late, Ethereum has finally participated in the crypto market rally cementing its strong position.
With today’s rally, Ethereum has made a new high for the year 2019. This is for the first time after September 2019 that Ethereum has moved past the $250 mark. Ethereum has set itself on a bullish trend which could continue further according to the technical data.
Although, some industry players have cast doubts recently over the future of Ethereum-based decentralized applications (DApps). At the Consensus 2019 conference, Bitcoin developer Jimmy Song heavily criticized Dapps. Song said:
“The only reason dapps exist is to raise money from gullible people or from greedy FOMO people, and that’s essentially what the ethereum platform has done.”
On the other hand, Ethereum co-founder Joseph Lubin has countered Song’s claims saying DApps will have a bright future five years from now. On their individual views, both the parties have put a massive bet of around $500,000.