The news is by your side.

Ethereum (ETH)

0 1

Get real time updates directly on you device, subscribe now.

Price at time of writing ($225.07)
Available on:
Nearly every major exchange will allow buying of Ethereum for both fiat
currency and exchange with BTC
If Bitcoin dominated the cryptocurrency space from 2008-2016, 2017 has
undoubtedly been Ethereum’s year. This relatively new cryptocurrency has made
an immediate impact upon the space with some incredible technological
innovations that have the potential to be groundbreaking, and game changing.
It is worth noting that Ethereum itself is not a cryptocurrency, it is a blockchain
based platform. However tokens denominated as “ether” are traded on various
exchanges. These tokens can be used for making payments on the Ethereum
blockchain or exchanged for other cryptocurrencies or fiat cash. Many online
articles will use the terms “Ethereum” and “Ether” Interchangeably.
Where Ethereum shines is with a revolutionary technology known as “smart
contracts”. Dubbed by some as a technology that could potentially replace
lawyers and accountants, these contracts are programmable contracts using
blockchain technology, that can be set to execute automatically once a certain set
of conditions are met. For example, an automatic deposit of 10 ether could be
made into person A’s wallet, once person A completes a task for person B.
Person B has no way of breaking this contract once the conditions are met as the
blockchain will enforce the conditions of said contract.
The potential applications for smart contracts are vast. From government, to
management, to being able to set up a self-executing will, this is truly
remarkable technology. A number of large international banks have already set
up think tanks for technology like this, and adoption by any large institution has
the potential to send Ethereum’s price into the stratosphere. The Blockchain
Banking Consortium project involves 43 international banks and aims to create a
blockchain network that can enable large scale international fund transfer.
The platform is still in the development stage, and there are to this day, few real
world examples of large scale Ethereum blockchain implementation. However,
many investors have faith in the technology, which plays a big part in explaining
the price rises over the course of 2017. In less than 1 month between May 18 and
June 12, the price soared from $96.65 to a peak of $395.03.
Ethereum also suffered from a $4billion single day loss in market cap after a
hoax rumor regarding the death of founder Vitalik Buterin gained traction after
originating on internet message board 4Chan. Let this example be another
warning that cryptocurrencies are more susceptible to market manipulation than
traditional assets.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More