Posted by Allison on 5 April 2016, 11:29
There are many world currencies people haven’t heard of, or at least aren’t particularly aware of. Ethereum is a currency that is only now gaining attention among larger groups of people, for example, and even now, it isn’t exactly a household name.
However, if you are interested in virtual currencies, you may well have heard of it. Alternatively, if you know a little about Bitcoin, the world’s most famous virtual currency (at least for the moment), you will probably have heard of this one too. Ethereum has been touted as the rival to Bitcoin, but judging by the latest news reports, it may soon be more than that.
You see, Ethereum is a virtual currency that has been gaining serious ground over recent weeks. Indeed, figures have it that Ethereum has grown in value by a serious amount – 1,000% in the past three months, according to several reports. However, it is not just the natural rise of Ethereum that has led it to be so successful. According to those in the know, things over at Bitcoin have not been good in recent times. There is some disagreement over how to further develop the software at Bitcoin. This has meant Bitcoin has become somewhat stagnant, allowing Ethereum to grab some headlines and make the most of them in the process.
It appears as if Ethereum works in much the same way as Bitcoin, at least to begin with. However, it appears to have other benefits too, even though not all of them are currently available. There should be the ability to create various applications that permit users to make transactions in various ways. It is all very confusing unless you have a degree in virtual currency, but it looks very encouraging, to say the least.
But perhaps more importantly, there are a variety of big names in industry that are becoming rather interested in Ethereum. Suddenly, all the headlines appear to be about this virtual currency. Bitcoin seems to be left behind. If those in the know at Bitcoin want it to remain a serious contender in the world of virtual currencies, they need to resolve their issues very quickly indeed. Otherwise, they could be at risk of losing everything while they are distracted by their divisions. While they argue about how best to proceed, Ethereum (and possibly others…) could be steaming ahead of them and leaving them far behind.
Only time will tell whether this will happen. However, there are some serious reasons to sit up and take notice of this ‘new’ virtual currency. It may also be to its benefit that finding out more about Ethereum and its creation is rather easier than finding out about the creation of Bitcoin. If you want to know more, this is the virtual currency to find out about.