What do you know about Ethereum - Bitcoin's rival?

When you think of Bitcoin, think about Ethereum as well.

Ethereum has been mentioned recently by many articles - as a new favorite currency of the cryptocurrency world. The price of an Ether has increased to 3000%.

Bitcoin is more widely known than other currencies, which has risen about 141% this year.

However, what exactly do the Ether and Ethereum tokens mean? And how is it different from Bitcoin? In the article below, we will decipher these questions together.

1. Guide to digging Bitcoin for beginners
2. Bitcoin dropped to its lowest level in June
3. New planners need to prepare Bitcoin for the "buffalo plow" dig money?

Ethereum is like Bitcoin?

You've heard about Bitcoin for years, but recently, Ethereum has just been mentioned and has just been developed 2 years ago, while Bitcoin has been around for 8 years "old." Ethereum was created by Vitalik Buterin, a young programmer told about Bitcoin by his father and he decided to create a platform for smart contracts - Ethereum, while Bitcoin was not designed to do so. According to CNBC, this Moscow man began working with Ethereum shortly after graduating from college.

The Ether and Bitcoin are called digital currency because they can be purchased and sold online, used to pay for all transactions (including tuition fees) and because they are out of control of the central banks and other government agencies.

Both Ether and Bitcoin are built on a technology called blockchain. It is a type of ledger that records and checks transactions made. All transactions are done on so-called public hierarchies and are not controlled by any operating entity.

There are many ways you can buy an Ether. You can buy on an exchange or you can use the computer to dig Ether by solving complex math problems using computer software. These mathematical problems are more complicated because more money will be dug to control the supply.

There is an important difference between Ethereum and Bitcoin that Bitcoin is designed to be a currency from the beginning.

However, according to Paul McNeal, a bitcoin evangelist and longtime digital money investor, Buterin thought of Ethereum as a platform where the two sides could sign a contract without a third party.

These so-called smart contracts create trust between the two. According to the Huffington Post, the Ethereum platform is provided by Ether and can be used as both currencies, which can represent virtual stocks, assets, proof of membership and many other things. Its applications are partly responsible for the recent popularity and increase.

1. How to build super-energy Ethereum digging system

The development of Ethereum

According to Coindesk, Ethereum has surpassed Bitcoin as the world's largest digital currency because of its market capitalization in June. Ether currently trades at $ 233 but in mid-June it traded at nearly 400 USD. That is the market value accounting for nearly 82% of Bitcoin. Currently, that number has dropped to below 70%.

The Ether is increasingly developed thanks to the interest of Wall Street financial sector and large technology firms. According to Coindesk, JPMorgan Chase, Microsoft and many other companies have teamed up to create the Enterprise Ethereum Alliance in February. This partnership aims to use the Ethereum platform to integrate the blockchain solution into their infrastructure.

A recent survey by Nathaniel Popper quoted in the New York Times indicates that businesses are relying on Ether and the use of Ethereum in the future than Bitcoin. Nearly 94% of businesses surveyed said they were optimistic about the state of the Ether. Only 49% of surveyed businesses have a positive feeling about Bitcoin.

MGT Capital - a company run by John McAfee is such a company. The company said it would start digging Ethereum for the purpose of making a profit. McAfee said: "We believe in the growth and value of digital currencies, and our company has a unique position to become a leading provider of processing power for blockchain. relate to".

On the road to becoming a popular digital currency, Ethereum met many advantages and consensus of many large firms. Hopefully in the near future, Ethereum will quickly match Bitcoin.