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
- Google Teaches Ethereum: Inside Google’s Cloud-Blockchain Ethereum Hybrid on June 15, 2019 at 5:10 pm
It’s no secret that none of the tech giants want to be left out of the blockchain race, but Google has been mostly silent on the issue. The company makes many billions selling advertisements for ... […]
- CLIC Technology, Opporty partner to enable Amazon purchases with Ethereum on June 15, 2019 at 5:10 pm
Crypto payments firm CLIC Technology is working with blockchain infrastructure provider and B2B platform Opporty on a browser extension allowing Amazon customers to pay for items with the Ether ... […]
- Playing With Ethereum in Opera for Android on June 14, 2019 at 11:59 am
The Opera browser now (as of 6/2019) includes a built-in Ethereum Wallet. To set up a wallet, one needs to sync up the android app with the desktop app. Show to Code to sync the Ethereum account ... […]
- Icelandic Regulators Approve Startup’s Plan for Fiat Payments on Ethereum on June 14, 2019 at 9:30 am
The Financial Supervisory Authority of Iceland (FME) has approved Reykjavik-based Monerium as its first electronic money institution. The designation, announced Friday, means that Monerium has ... […]
- Ethereum price prediction: ETH/USD next wave of buying pressure above $280 – confluence detector on June 14, 2019 at 8:28 am
Ethereum is trading in the green late on Friday, up some 0.70%. ETH/USD upside remains somewhat limited at present given strong supply around $280 territory, as seen via the daily. Ethereum price on ... […]
- Ethereum purchases could soon launch on Amazon courtesy of two startups’ partnership on June 14, 2019 at 4:25 am
Amazon currently does not accept cryptocurrency payments. CLIC Technology and Opporty will develop a browser like extension that supports ETH payments on Amazon. According to a press release on Friday ... […]
- Two Startups Are Partnering to Enable Amazon Purchases with Ethereum on June 14, 2019 at 3:20 am
Two blockchain-focused startups are teaming up to enable Amazon purchases with ethereum. In a press release published Friday, crypto payments firm CLIC Technology said it is collaborating with ... […]
- Cutting-Edge Collaboration Between Clic Technology and Opporty to Result in Ethereum Purchases on Amazon on June 13, 2019 at 5:00 am
AVENTURA, Fla., June 13, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- CLIC Technology, Inc. (OTC: CLCI) ("the Company") in collaboration with blockchain infrastructure provider and B2B platform ... […]
- ‘Most Ambitious’ Blockchain Startup Since Ethereum Raises $15 Million on June 12, 2019 at 1:15 pm
Helium reportedly will bring reduced costs to deploying wireless networks, as Multicoin partner Tushar Jain explains: “The Helium vision is the most ambitious we have seen in the blockchain space ... […]
- Enigma's Ethereum-Based Private Smart Contract Testnet Goes Live on June 12, 2019 at 5:14 am
The testnet of private smart contract network Enigma has been launched. Enigma has launched a test network featuring private smart contract features Per the announcement, the test network, dubbed ... […]
via Bing News