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.
Learn more: Ethereum, a Virtual Currency, Enables Transactions That Rival Bitcoin’s
The Latest on: Ethereum
[google_news title=”” keyword=”Ethereum” num_posts=”10″ blurb_length=”0″ show_thumb=”left”]
via Google News
The Latest on: Ethereum
- Andreas Brekken, Founder of SideShift.ai, on Bull Run, Meme Coins, and Ethereum Sharding | Ep. 327on April 19, 2024 at 8:15 am
Andreas Brekken, the founder of SideShift.ai, a platform offering direct-to-wallet trading, discusses buying BTC in 2011, meme coins being beneficial for the crypto space and stress-testing the ...
- What is EigenLayer? Ethereum’s restaking protocol, explainedon April 19, 2024 at 8:08 am
EigenLayer introduces “restaking” to the Ethereum ecosystem, allowing ETH stakers to repurpose their staked capital.
- Ethereum set to hit $1 billion annual revenue amid DeFi pushon April 19, 2024 at 7:59 am
Blockchain network Ethereum is on the course to smash $1 billion in annual revenue amid a push by the DeFi sector.
- Is Ethereum's bottom in? Key indicator makes this prediction for ETH's priceon April 19, 2024 at 6:00 am
Ethereum transaction fee fell to a four-month low on the charts This could be a sign of a decline in user activity on the network According to Santiment's latest update, Ethereum’s [ETH] ...
- Crypto Expert Named Out Ethereum’s Top Layer-2 Altcoins with 100x Returns in 2024on April 19, 2024 at 5:11 am
A seasoned crypto expert has pinpointed several altcoins linked closely to Ethereum that could potentially offer investors significant returns. With the bull ...
- Live from TOKEN2049: Telos announces Ethereum Layer 2 partnership with Ponos Technologyon April 19, 2024 at 3:03 am
Telos has revealed the details of a new partnership with Ponos Technology to develop a hardware-accelerated Ethereum L2 zkEVM network. Plans for the new network were officially unveiled at TOKEN2049 ...
- Cathie Wood Sees Value In Tesla Wreckage As Ark Buys $13M Worth Of EV Giant's Stock, Loads Up On Bitcoin And Ethereum ETFson April 19, 2024 at 1:19 am
As Tesla, Inc. (NASDAQ:TSLA) fell for a fifth straight session on Thursday, breaching a significant psychologica ...
- Ethereum - A buy opportunity ahead of Bitcoin's halving could emerge IF...on April 18, 2024 at 11:00 pm
Ethereum could fall under the $3k psychological support zone soon Metrics flashed a strong buy signal, but there's more that investors need to consider Lately, Ethereum [ETH] has seen bearish ...
- Ethereum Sees $365 Million in Revenue in Q1, Up by 155% YoYon April 18, 2024 at 10:16 pm
The Ethereum network reported a robust income of $365 million in the first quarter of 2024, an impressive revenue growth of 155%.
- Ethereum Price Prediction: As ETH Clambers Back Above $3K, Traders Turn To This Learn-To-Earn ICO That’s Hurtling Towards $1Mon April 18, 2024 at 10:08 am
$99BTC is priced at $0.00101 per token, but a price increase is due in less than five days. You can buy the $99BTC token via the project’s official website here using ETH, USDT, BNB, or a bank card.
via Bing News