Ethereum – the rising star of the cryptocurrency world
Ethereum has been called the rising star of the cryptocurrency world.
Many people have thought that bitcoin would be the only one in the
spotlight, but seems like it may have a serious competitor. Is this for
real? Let’s analyze some data and facts!
Like Bitcoin or… better?
In 2013 Vitalik Buterin, a back then, 19-year-old programmer, explained the technology called ethereum and properly informed us how it works. Ethereum is the second digital currency when it comes to its value, right after bitcoin.
Just like bitcoin, ethereum is a decentralised payment network. Anonymous payments can be send to users worldwide, without the need for bank.
Let’s have a closer look at the technology and how it works.
Probably one of the most innovative and attractive things about ethereum is the fact that it allows applications, not just currency, to run the network. Let me explain. Do you use Dropbox to store your files? As soon as you drop your files to Dropbox, you rely on people who maintain it. On a decentralised storage network, you have to trust the other users and it’s good, because they have an interest in maintaining it, too!
The idea is that one entity will no longer have the control over your files. Sounds fair, right?
Its value on the rise
Ethereum is barely 2 years old, it was created in 2015, yet its value is rapidly increasing. We noticed a stable rise by 3000 percent since it was born. In 2015 we had to pay $30 for ethereum, now it costs ten times as much- $300.
Ethereum’s enthusiasts are optimistic about it, and impatiently wait for it to rise and compete with bitcoin.
What will the future bring? What is your opinion about ethereum, will it become the best-selling digital currency, or is it just a bubble?
Share your opinions in the comment section below!