You've probably heard of Bitcoin but what about Ether?
There's an arms race going on " in the world of cryptocurrencies " then Bitcoin and Ether are leading the pack. Ether is a 3-year old digital currency ( Bitcoin's closest competitor ) and it's largely been flying under the radar.
Despite growing at breakneck speed investors have been super bullish on BITCOIN. Because, it's nearly tripled in value so far this year. But ETHER is up roughly 4,000% year to date These rivals are both open-source digital currencies use to make somewhat anonymous transactions.
ETHER even has " Digital Coins " just like Bitcoin. They both also saw their share of big volatile moves when Ether virtually lost all its value in a single day in a June 2017 crashed
It went from $319 to 10 cents on one exchange before recovering all its losses. But here the critical difference, while they're both powered by a technology called Blockchain. A lot of people think ETHER'S technology is way better.
So what's BLOCKCHAIN? It's like the DNA od a digital currency it's an online ledger that records every transaction made since crypto currency has no physical imprint. BLOCKCHAIN allows money to be tracked all the over the web so it can't be copied or counterfeited. ETHER'S BLOCKCHAIN is called ETHERIUM AND UNLIKE BITCOINS BLOCKCHAIN.
It features a key technology called the " SMART CONTRACT " it doesn't just tract transactions " IT PROGRAMS THEM " we have touch of this now with automated payments and deposits. But imagine being able to have your money INVEST , SPEND AND SAVE all on its own so you'd literally putting your money to work for you.
Smart contract let you exchange not just money... but property, stock-really anything without having to go through a lawyer, notary or some other service provider. I cuts out the middle man entirely that's why investors have taken notice and many think ETHEREUM is a stronger and more potentially more lucrative technology than the one the underpins BITCOIN. It's like the ultimate vending machine. You make a deposit of the cryptocurrency for the specific product you want and all the mechanics of the transactions are automated right down to the penalty if you don't hold up your end of the bargain.
So whereas BITCOIN is all about payment technology. The ETHEREUM BLOCKCHAIN TECHNOLOGY has other real-world applications, ranging from gambling to banking.
That's why a big driver of the ETHER rally is its popularity among big corporates just look at BARCLAYS
It's using smart contracts to trade derivatives in other word for all the attention that BITCOIN has been getting, it's clear it's no longer alone in the cryptocurrency conversation
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Ethereum has a whole ecosystem of applications built onto it.
Bitcoin does not.
Most of my money is in ethereum and the different tokens..
Great article.. i added it to my new steemit promo subreddit - https://www.reddit.com/r/SteemitPromo/
thanks buddy!!
I heard about this flash crash with etherium. We must always be on the lookout for opportunities like this.
that's true.. we should not take it for granted something like this.. one instant we might experience it again..
very informative!!
I agree with your post.
Helpful post and great too.
Waiting for the next.
thanks..
So did u buy when it crashed??
nope.. I am new in crypto currency and haven't started investing yet maybe soon. About this I just watch some videos in youtube and read some article about crypto currency for my awareness..