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Why Is Ethereum Popular

Bitcoin Vs. Ethereum

Bitcoin Vs. Ethereum

/ 9 Comments /in Digital Literacy /by Chris Castiglione Whats the difference between Bitcoin and Ethereum? First, its important to understand that there are two categories of digital coins:Cryptocurrencies (e.g. Bitcoin, Litecoin, Monero, ZCash, etc) andTokens(e.g. Ethereum, Filecoin, Storj, Blockstack, etc.) Bitcoin is a cryptocurrency. Bitcoin and other cryptocurrencies are competing against existing money (and gold) to replace them with a truly global currency. A global currency which allows individuals to own their own money (without having to rely on national banks). Lower fees for transferring money across geographic borders. Financial stability for people who live in countries with unstable currencies. (e.g. In 2016, the Venezuelas currency hit an inflation rate of 800%). In addition, two-thirds of the current global population has no access to banking, or limited access Bitcoin is changing that. Ethereum is a token.What Bitcoin does for money, Ethereum does for contracts. Ethereums innovation is that is allows you to write Smart Contracts: basically any digital agreement where you can say if this happens, then something else happens. For example: If I vote for the President, then my vote is official and no one else can vote as me. If I sign my name on this document, then I own the car, and you no longer own the car. Up until now weve carried out these agreements with a signature at the bottom of a paper document. Ethereum dramatically improves this model because it is digital, and proof of the transaction can never be deleted. Vitalik Buterin; Other co-founders include Gavin Wood and Joseph Lubin Deflationary (a finite # of bitcoin will be made) Inflationary (much like fiat currency, where more tokens can be made over time) 12.5 at the moment. Half at every 210 Continue reading >>

Why Is Ethereum Skyrocketing Right Now?

Why Is Ethereum Skyrocketing Right Now?

There are several bullish factors in favor of Ethereum right now: Increased public awareness and legitimacy While the general public is just becoming aware of Ethereum, it already also has the backing of major global corporations. The recently formed Enterprise Ethereum Alliance consists of giants such as Intel, J.P. Morgan, and Microsoft. The EEA launched on Feb 28, 2017 with 30 members. In the first three months it has already added 88 additional members and has received hundreds of new applications. Major corporations have recognized the incredible potential of Ethereum and are rushing to capitalize on it. Just like the price, interest in Ethereum has gone parabolic in 2017. It stands to reason that the increased interest is also leading to increased demand. 2) The addition of fiat currency on ramps Here are a few of the major exchanges have added Ethereum in the past few months. These are all exchanges that allow conversion of fiat currency directly into ether. Previously the only way to acquire ether was to trade bitcoin for it using Poloniex, Shapeshift, or other altcoin exchanges. There was pent up demand from people who didnt have an easy way to buy ether. Now that users can directly convert their fiat currency into ether using familiar platforms, the price is increasing as that demand is being realized. 3) Bitcoin squandering network effect due to civil war and scaling issues Even a year ago, the first-mover advantage that Bitcoin enjoyed seemed insurmountable. However, Bitcoin has stagnated and Ethereum is quickly catching up. There were 200,419 transactions on the Ethereum blockchain on 6/6/2017. Here is a chart of the confirmed transactions on the Bitcoin blockchain. There are already over two-thirds as many transactions on the Ethereum blockchain as the Bi Continue reading >>

Ethereum Price Is Up 2,000% This Year. Here's Why

Ethereum Price Is Up 2,000% This Year. Here's Why

Bitcoin has more than doubled in price this year alone, but it has been outperformed by its closest rival Ether, which is up over 2,300 percent. On January 1, bitcoin was trading at the day's high of $1,003.25. On Wednesday, it broke through the $2,300 barrier for the first time to hit a fresh record high of $2,377.32, according to CoinDesk, marking a year-to-date rise of 137 percent. To find out what's driving bitcoin's rally, read more here . Meanwhile, bullishness around bitcoin has stoked appetite for other cryptocurrencies. One in particular known as ether is getting traction. Ether has risen from $8.24 on January 1, to a high of $203.30, according to data from Coinmarketcap.com. This represents a 2,367 percent rise year-to-date. Ether runs on an underlying technology called Ethereum, which is a different blockchain to the one that underpins bitcoin. While ether does have digital "coins" like bitcoin, companies are more focused on how the Ethereum blockchain could be used in real-world applications. Ethereum has been designed to support so-called smart contract applications. A smart contract is a computer program that can automatically execute the terms of a contract when certain conditions are met, potentially taking a lot of the human involvement out of completing a deal. Barclays for example, have used a form of this technology to trade derivatives. Firstly, Ethereum is a lot younger having only been started in 2014, whereas bitcoin began in 2009. Ether's market cap is at $18.6 billion versus bitcoin's $39.2 billion, according to Coinmarketcap.com. Ethereum is also focused on smart contracts , while bitcoin is very much about payment technology. While bitcoin has been getting support from certain governments and investors, the Ethereum blockchain has been backe Continue reading >>

A Beginner's Guide To Ethereum: Buy Ether Now Or Wait?

A Beginner's Guide To Ethereum: Buy Ether Now Or Wait?

// -- Discuss and ask questions in our community on Workplace . Ethereum is a very important crypto in the sense that competition is always good for business. Ethereum was introduced in 2013 by a crypto researcher and developer Vitalik Buterin. It is currently the second most popular Cryptocurrency, following Bitcoin and is said to be the next Bitcoin. Ethereum differs from Bitcoin in the sense that it introduced smart contracts to the industry. It has relatively the same qualities as Bitcoin it is open-source and built on Blockchain, which defines its abilities and characteristics. Enabled by Ethereum, a smart contract is a computer algorithm that allows users to build or develop innovative tools and systems to perform various tasks. These smart contracts run on Blockchain and eliminate the need for third parties. It can save one a lot of time and money. The market is very much split in two as the majority of investors put their money in both Bitcoin and Ethereum. Ethereums token that you can trade with on exchanges is called an ether and can be bought or sold not only for Bitcoin, but also for any popular fiat currency like USD or EUR. Some cryptocurrency exchanges even offer an option of converting ETH to GBP , which can now bring you around 340 per coin. Ethereum was forked in 2016, and Ethereum Classic (ETC) was introduced to the market. There are currently talks of another fork for Ethereum Classic that is expected to happen sometime in December 2017. // -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- // In order to determine whether or not it is a good time to invest in a Cryptocurrency, one should keep an eye on the news. News greatly affects whether a coins pric Continue reading >>

Ethereum Vs. Bitcoin, Is One Cryptocurrency Better Than The Other? | Digital Trends

Ethereum Vs. Bitcoin, Is One Cryptocurrency Better Than The Other? | Digital Trends

Cryptocurrencies can be a little confusing. Are they digital money or more like gold? Are they a new way to pay for things online or a way to store value? Those arent easy questions to answer when youre talking about hundreds of different cryptocurrencies, some old, some new, and some very different from the rest. When you focus Ethereum vs. bitcoin, though, there are some stark, obvious differences. Their age is the most obvious, with bitcoin having entered this world as the very first global cryptocurrency in 2009 and Ethereum only showing up in 2015 as a potential alternative. Although it is less proven than its predecessor, Ethereum does have a few nifty features which give it a lot more potential than its older sibling in some key areas. For the purpose of this guide, well look at two shared aspects of the cryptocurrencies: Their ability to act as a store of value and as transactional mediums. Well also take a look at some of the unique features which make them stand apart. If you want a more general look at cryptocurrencies, or the steps for how to buy , sell or trade bitcoin and Ethereum, have a read of some of our other guides. The most successful cryptocurrency for storing value continues to be bitcoin. As the most valuable coin in the world by quite some margin and the progenitor of the entire cryptocurrency revolution bitcoin has proven itself. Its far more recognized than any of its peers, and that makes it easier to buy, store, and sell. Thats not to say that Ethereum and its coin, Ether, have been ineffective. For such a young currency, Ethereum has proved to be one of the most popular. At the time of writing its market value and 24-hour trading volume are second only to Bitcoin. The actual monetary value for a single ETHhowever, is less than five percent Continue reading >>

Eli5: What Is Ethereum And What's So Special About It? - Cryptocurrency

Eli5: What Is Ethereum And What's So Special About It? - Cryptocurrency

ELI5: What is Ethereum and what's so special about it? I need the most watered down, accessible, digestible version you got please. EDIT: I haven't logged in for a bit and saw these pretty awesome responses when I did. Thanks for taking the time to explain. Bitcoin was supposed to be programmable money, that's why it initially gained so much popularity when it wasn't as much of a currency yet as it is today. However, in the past 4 years, the "programmable" still hasn't taken off due to developers and the community all focusing their attention on the blocksize debate, the censorship at /r/Bitcoin and fighting that all out. Ethereum stepped in to fill in that gap. They have designed a Turing-complete scripting language on the Ethereum network, which makes it much easier and convenient for programmers to actually start building programmable money. Through Ethereum, it is now possible to write Smart Contracts (programmable money) and that for any currency you wish, including Bitcoin. The relationship between Ethereum and Bitcoin So Ethereum and Bitcoin can be see as a couple that can strengthen each other. But Ethereum can exist and work entirely without Bitcoin. From Bitcoin's point of view, things are different. As long as the Bitcoin community doesn't get their shit together and aren't completing the "programmable" money part in the Bitcoin network because they stay too busy fighting each other, Bitcoin will not have easy programmable money without the help of Ethereum. Last but not least, each script gets executed on the Ethereum "computer" (the Ethereum network can be seen as a giant world computer). This computer doesn't do this for free. Just like Bitcoin fees exist in the Bitcoin network, Ethereum demands an Ethercoin-fee for each script that gets executed. And tha Continue reading >>

Is Ethereum More Important Than Bitcoin?

Is Ethereum More Important Than Bitcoin?

By Adam Hayes, CFA | Updated June 13, 2017 1:57 PM EDT Blockchain technology, the distributed ledger system that underpins the digital currency Bitcoin, is getting a lot of attention from Wall Street lately. With uses ranging from cross-border payments to settlements and clearing of over-the-counter derivatives to streamlining backoffice processes, the potential for disruption in the financial industry and elsewhere is growing more real each day. While bitcoinis the most widely used and well known use case of blockchain, Ethereum may be thekiller app that allows for this disruption to finally take place. The tokennative to the Ethereum blockchain , Ether (ETH), has recently risen to over $10 per ETH, and the market capitalization of all ether is nearly $800 million, making it the second most valuable blockchain behind bitcoin (which represents approximately $6.5 billion of value).What is Ethereum and why is it interesting? Ethereum was developed to augment and improve on bitcoin, expanding its capabilities. Importantly, it was developed to feature prominently smart contracts:decentralized, self-executing agreements coded into the blockchain itself. Ethereum was first proposed by Vitalik Buterin in 2013 and went live with its first beta version in 2015. Its blockchain is built with aturing-complete scripting language that can simultaneously run such smart contracts across all nodes and achieve verifiable consensus without the need for a trusted third party such as a court, judge or legal system.According to its website ,Ethereumcan be used to codify, decentralize, secure and trade just about anything. In late 2014, Ethereum raised over $18 million in bitcoinby way of a crowdsaleto fund its development. The Ethereum Virtual Machine (EVM) is capable of running smart contr Continue reading >>

Why Is Ethereum Different To Bitcoin?

Why Is Ethereum Different To Bitcoin?

Ethereum differs from Bitcoin in 7 main ways: 1. In Ethereum the block time is set to 14 to 15 seconds compared to Bitcoins 10 minutes. This allows for faster transaction times. Ethereum does this by using the Ghost protocol. 2. Ethereum has a slightly different economic model than Bitcoin Bitcoin block rewards halve every 4 years whilst Ethereum releases the same amount of Ether each year ad infinitum. 3. Ethereum has a different method for costing transactions depending on their computational complexity, bandwidth use and storage needs. Bitcoin transactions compete equally with each other. This is called Gas in Ethereum and is limited per block whilst in Bitcoin, it is limited by the block size. 4. Ethereum has its own Turing complete internal code... a Turing-complete code means that given enough computing power and enough time... anything can be calculated. With Bitcoin, there is not this form of flexibility. 5. Ethereum was crowd funded whilst Bitcoin was released and early miners own most of the coins that will ever be mined. With Ethereum 50% of the coins will be owned by miners in year five . 6. Ethereum discourages centralised pool mining through its Ghost protocol rewarding stale blocks. There is no advantage to being in a pool in terms of block propagation. Continue reading >>

Explainer: What Is Ether?

Explainer: What Is Ether?

That was the biggest rise of any cryptocurrency in 2017 except for ripple . And much of ethers overall rise came at the very end of the year (65% in December alone), suggesting that ether and Ethereum, the network it runs on, are super-hot right now. You might ask: why?What is ether? What is Ethereum? And how is it different from bitcoin? Yahoo Finance is holding a live summit on cryptocurrencies, featuring a range of big-name guest speakers, on Feb. 7 in New York City. Get your ticket here . For starters, remember that bitcoin, invented in 2009, runs on blockchain , a decentralized, immutable, peer-to-peer ledger that records every transaction done in bitcoins. Bitcoin miners use expensive machines to verify and upload (or mine) bundles of transactions (called blocks) to the chain. Ethereum also runs on a blockchain, also maintained by miners. But unlike the bitcoin blockchain, Ethereum is designed specifically to carry out smart contracts, which are automated agreements for an exchange of value. (This is also called scripting.) Smart contracts are a way to cut the middleman out of financial transactions; a network of nodes carry out agreements by independently verifying them. The Ethereum blockchain not only records every ether transaction, but also the most up-to-date form of every smart contract. Ether ( ETH ) is the token of the Ethereum chain. So ether is to Ethereum what bitcoin is to the bitcoin blockchain. (Be warned: most people simply refer to ether, the token, as ethereum.) Vitalik Buterin published the Ethereum white paper in 2013, but the network did not go live until July 2015 when the genesis block of ether was mined on the Ethereum blockchain. Leading up to that, Ethereum held a token sale, nowadays popularly called an initial coin offering (ICO), in w Continue reading >>

This Is The Reason Ethereum Exists

This Is The Reason Ethereum Exists

The worlds second-most-valuable cryptocurrency is also its most interestingbut in order to understand it, you must first understand its origins. In the beginning, there was Bitcoin. The cryptocurrency has for many become synonymous with the idea of digital money, rising to a market capitalization of nearly $100 billion. But the second-most-valuable currency, Ether, may be far more interesting than its headline-grabbing older sibling. To understand why its so popular, it helps to understand why the software that runs it, called Ethereum, exists in the first place. This piece first appeared in our new twice-weekly newsletter, Chain Letter, which covers the world of blockchain and cryptocurrencies. Sign up here its free! On Halloween in2008, someone or some group of people using the name Satoshi Nakamoto published a white paper describing a system that would rely on a decentralized network of computers to facilitate the peer-to-peer exchange of value (bitcoins). Those computers would verify and record every transaction in a shared, encrypted accounting ledger. Nakamoto called this ledger a blockchain, because its composed of groups of transactions called blocks, each one cryptographically linked to the one preceding it. Learn more about blockchain and its role in the crypto-economy. Bitcoin eventually took off, and soon people latched onto the idea that its blockchain could be used to do other things, from tracking medical data to executing complex financial transactions (see Why Bitcoin Could Be Much More Than a Currency ). But its design, intended specifically for a currency, limited the range of applications it could support, and Bitcoin aficionados started brainstorming new approaches. It was from this primordial soup that Ethereum emerged. In a 2013 white paper , Vit Continue reading >>

Ethereum And The Rise Of The Price Of An Ether

Ethereum And The Rise Of The Price Of An Ether

Ethereum And The Rise Of The Price Of An Ether {{article.article.images.featured.caption}} Opinions expressed by Forbes Contributors are their own. The author is a Forbes contributor. The opinions expressed are those of the writer. This story appears in the {{article.article.magazine.pretty_date}} issue of {{article.article.magazine.pubName}}. Subscribe The Ethereum virtual currency logo is displayed on an automated teller machine (ATM) at the Coin Trader bitcoin retail store in Tokyo, Japan, on Wednesday, Aug. 30, 2017. The value of Ethereums currrency is increasing alongside Bitcoin and Litecoin, and the price of one Ether is currently at a high of $625.25 USD, according to CoinMarketCap, despite the CryptoKitties drama. 2018 will welcome a range of regulatory requirements and financial institutions are launching new products on the blockchain in order to simplify compliance, and this is where the Ethereum blockchain is becoming increasingly popular. A project named the Massive Autonomous Distributed Reconciliation program (Madrec) was announced this week and will be led by UBS with involvement from Barclays, Credit Suisse, KBC, SIX and Thomson Reuters. For a while now, financial news has been dispersed with updates of how banks are experimenting with cryptocurrencies and this announcement is one of the most recent, after Bitcoin futures began trading. Unlike Bitcoin, however, Ethereum has always been spoken about in a more positive way and has become the second largest digital currency in two years. After being launched in 2015, the value of Ethereums currency, otherwise known as Ether, has increased by more than 6,800% since the start of the year, according to The Telegraph. With Ether being the third most valuable digital currency and the virtual currency with the Continue reading >>

Okay, Wtf Is Ethereum?

Okay, Wtf Is Ethereum?

A beginners guide to the worlds second most popular cryptocurrency. By now, chances are pretty good that you've heard of bitcoin, the cryptocurrency unleashed on the world in 2009 by a mysterious person or group that goes by Satoshi Nakamoto. Maybe you've heard it's the currency that fuels massive darknet drug markets like the now-defunct Silk Road . Or maybe your encounter with the cryptocoin was more benign and you saw one of the weird looking bitcoin ATMs in a convenience store. But unless you're already pretty involved in the cryptocurrency world, you may not have heard of ethereum, the second largest crypto asset that's recently been giving bitcoin a run for its virtual money. Even if you have heard of ethereum, you may be at a loss when it comes to explaining how it differs from bitcoin. In either case, you've come to the right place. Ethereum is often touted as a "world computer." What that fancy language really means is that ethereum is a platform for the creation of decentralized applications (dapps), using what are known as smart contracts . Smart contracts are bits of code that automatically execute an action after certain requirements have been metsay, sending a slice of an app's profits to investors after a predetermined date has passed. Bitcoin has smart contracts, too, but ethereum makes them really easy to use since they're baked into the system's design. All of this takes place on a blockchain, which bitcoin uses, too. All a blockchain does is act as a public ledger that lists everything that goes on in the network in real-time. It's the tool that makes the whole thing possible. The blockchain, and thus the ethereum network, is distributed across thousands of computers (or "nodes") around the world. It's also "Turing complete," which means that smart c Continue reading >>

What Is Ethereum And How Does It Differ From Bitcoin?

What Is Ethereum And How Does It Differ From Bitcoin?

What is ethereum and how does it differ from Bitcoin? The ethereum cryptocurrencyCredit:Bloomberg Ethereum is a rising star in the cryptocurrency world. It has quickly become the second largest digital currency in just over two years, booming in value and spurring the rise of hundreds of new rivals to Bitcoin. Launched in 2015, the value of ether (ethereum's currency)has increased rapidly. It suffered a set back before Christmas 2017, suddenly dropping from $850 to around $690 -a drop of about 20 per cent. Since then it has continued to show intense volatility, hitting highs of $1400 in January before slumping to less than $560. Last year sawmonths of increase in the price of Ethereum and rival cryptocurrencies like Bitcoin and Litecoin.At the start of 2017, one coin was worth around... Register or log in to view this and other Technology Intelligence articles. It's free and easy to do. Access brilliant stories, features and analysis Sign up to our exclusive Technology Intelligence daily newsletter Become part of our ambitious new Tech networking community Continue reading >>

Blockchain: A Very Short History Of Ethereum Everyone Should Read

Blockchain: A Very Short History Of Ethereum Everyone Should Read

Blockchain: A Very Short History Of Ethereum Everyone Should Read Opinions expressed by Forbes Contributors are their own. Even those who are not familiar with blockchain are likely to have heard about Bitcoin, the cryptocurrency and payment system that uses the technology. Another platform called Ethereum, that also uses blockchain, is predicted by some experts to overtake Bitcoin this year. Ethereum is an open-source public service that uses blockchain technology to facilitate smart contracts and cryptocurrency trading securely without a third party. There are two accounts available through Ethereum: externally owned accounts (controlled by private keys influenced by human users) and contract accounts. Ethereum allows developers to deploy all kinds of decentralized apps. Even though Bitcoin remains the most popular cryptocurrency, its Ethereums aggressive growth that has many speculating it will soon overtake Bitcoin in usage. While there are many similarities between Ethereum and Bitcoin, there are also significant differences. Here are a few : Bitcoin trades in cryptocurrency, while Ethereum offers several methods of exchange, including cryptocurrency (Ethereums is called Ether), smart contracts and the Ethereum Virtual Machine (EVM). They are based on different security protocols : Ethereum uses a "proof of stake" system as opposed the "proof of work" system used by Bitcoin. Bitcoin allows only public (permissionless or censor-proof) transactions to take place; Ethereum allows both permissioned and permissionless transactions. The average block time for Ethereum is significantly less than Bitcoins: 12 seconds versus 10 minutes. This translates into more block confirmations, which allows Ethereums miners to complete more blocks and receive more Ether. It is estimat Continue reading >>

Ripple And Ethereum Just Hit All-time Highs

Ripple And Ethereum Just Hit All-time Highs

Ripple and ether, the second and third most popular cryptocurrencies, both hit new all-time highs on January 4, 2018. The interest in cryptocurrencies beyond bitcoin could be a sign that crypto is here to stay. While 2017 saw market leader bitcoin making frequent headlines thanks to its soaring valuations, 2018 is already proving to be a big year for the second and third most popular cryptocurrencies, ripple and ethereum, respectively. On January 4, ripple hit a new all-time-high of $3.317 per unit, and at the time of writing, it has a market cap of $137 billion. Ethereum also hit a new high on the 4th, breaking the $1,000 threshold for the first time. The cryptocurrency currently sits at $1,027.27 with a market cap of just over $99 billion. The value of a single unit of ripple or ethereum is still far below that of a unit of bitcoin (currently $15,125 per), and the leading cryptos market cap of $253 billion is almost twice that of its nearest competitor. However, the silver and bronze cryptos are quickly closing that market cap gap, with ripples market cap increasing by $49 billion and ethers by $26 billion just inthe four days since 2017 drew to a close. Overall, the crypto market has surged from $17 billion to almost $770 billion in the past year. Based on the latest figures for ripple and ether, societys interest in cryptocurrencies clearly extends beyond a single coin. As more and more people invest in crypto, be it bitcoin, ether, or ripple, the likelihood that this new form of currency is here to stay increases. Governments and financial institutions are already warming to the idea. A future of faster, more secure financial transactions powered by crypto could be just on the horizon. Disclosure: Several members of the Futurism team, including the editors of this Continue reading >>

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