A new virtual gold rush is underway.
Even as Bitcoin, riven by internal divisions, has struggled, a rival virtual currency — known as Ethereum — has soared in value, climbing 1,000 percent over the last three months.
Beyond the price spike, Ethereum is also attracting attention from giants in finance and technology, like JPMorgan Chase, Microsoft and IBM, which have described it as a sort of Bitcoin 2.0.
The rise of the relatively new virtual currency has been helped by a battle within the Bitcoin community over how the basic Bitcoin software should develop.
The fights have slowed down Bitcoin transactions and led some people to look for alternative virtual currencies to power their businesses. Enter Ethereum.
Like Bitcoin, the Ethereum system is built on a blockchain in which every transaction is recorded publicly. The promise of such a system is that it allows the exchange of money and assets more quickly and more cheaply than relying on a long chain of middlemen.
But Ethereum has also won fans with its promise to do much more than Bitcoin. In addition to the virtual currency, the software provides a way to create online markets and programmable transactions known as smart contracts.
The system is complicated enough that even people who know it well have trouble describing it in plain English. But one application in development would let farmers put their produce up for sale directly to consumers and take payment directly from consumers. There are already dozens of functioning applications built on Ethereum, enabling new ways to manage and pay for electricity, sports bets and even Ponzi schemes.
All of this work is still very early. The first full public version of the Ethereum software was recently released, and the system could face some of the same technical and legal problems that have tarnished Bitcoin.
Many Bitcoin advocates say Ethereum will face more security problems than Bitcoin because of the greater complexity of the software.
The Latest on: Ethereum
via Google News
The Latest on: Ethereum
Ethereum Technical Analysis: ETH/USD consolidating around $254
on May 20, 2019 at 6:54 pm
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in ... […]
$900M: Coinbase Records Highest Weekly Ethereum Trading Volume Since 2017
on May 20, 2019 at 10:00 am
Weekly trading volume for the world’s second largest cryptocurrency by market value, Ethereum (ETH), reached its highest notional value in over 17-months on the popular exchange Coinbase. In ... […]
Ethereum market overview: ETH/USD paralyzed; this support lacks legs
on May 20, 2019 at 8:47 am
ETH/USD embarked on an upward trajectory towards $300 but formed a high at $280.17. A break above $250 will see the investors’ confidence increase. Ethereum is trading at $246 following declines of ... […]
Ethereum-Based Stock Exchange Plans First Company Listing in June
on May 20, 2019 at 2:30 am
SprinkleXchange, a stock exchange built on ethereum, is reportedly listing its first company next month. Sprinkle Group CEO Alexander Wallin told Bloomberg in an interview published Friday, “We have ... […]
Ethereum Is Popular, but It’s Probably Not Perfect
on May 19, 2019 at 10:40 am
Ethereum has always been well known for its smart contracts and technical capabilities, and that reputation is spreading to some of the biggest retailers and financial companies out there. Dimon had ... […]
Only Ethereum Developers Can Bring Institutional Investment to the Crypto
on May 18, 2019 at 5:55 am
Joseph Lubin, the co-founder of the renowned blockchain platform Ethereum, has previously pointed out that Ethereum is going to become a 1,000 times more scalable than it currently is in the next 18 ... […]
A guide to Ethereum’s ERC standards
on May 17, 2019 at 8:17 am
Ethereum is a blockchain-based decentralised platform designed for running smart contracts. As explained here, a smart contract is a program that runs exactly as coded by its creator. It is ... […]
Ethereum, Stellar Price: Double-Digit Gains Fuel Crypto-Market Surge
on May 16, 2019 at 5:21 pm
Fundamental analysis and financial markets. But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with ... […]
Crypto Update: Coins Pull Back As Ethereum Spikes Above $260
on May 16, 2019 at 11:37 am
After another crazy and bullish day in the cryptocurrency segment, which was highlighted by the spikes in Ripple and Ethereum, the majors entered a pullback today in early trading. The previously ... […]
Big, greedy Ethereum whales account for 33 percent of cryptocurrency’s supply
on May 16, 2019 at 6:50 am
Ethereum ETH whales account for just 7 percent of transaction activity in the market – but they control a third of the cryptocurrency’s entire circulating supply. That’s according to a new ... […]
via Bing News