Social Media Sidebar

Announcement

Please sign up, comment on articles and bring your friends!

Current poll

PlanetTech is asking:

What do you think about our new web site?

Love it, indeed
Really good solution
Same as old one
The old one was better
This is a new option

Quote of the day

Just because something doesn’t do what you planned it to do doesn’t mean it’s useless.

 

Thomas Edison

Why Ethereum weathered the cryptocurrency downturn better than Bitcoin

RATE THIS! +5
Posted in Software on 26th Feb, 2018 10:15 PM by Alex Muller

If 2017 was a dream for cryptocurrency enthusiasts, 2018 has been a swift return to reality. The value of Bitcoin, which increased over 1,000 percent last year, has decreased by close to 30 percent so far this year, and many other coins have followed suit.

 

The crypto market has begun a modest recovery, but investors have nonetheless been given a stark reminder that cryptocurrency’s volatility is a double-edged sword; if you want to try and make it “to the moon,” you’ve got to risk crashing down to earth.

 

One coin that has stayed relatively stable throughout the recent crash, though, is Ethereum. In fact, the value of 1 ether has actually increased by 4.9 percent since January 1, 2018, and its value relative to Bitcoin has grown by nearly 50 percent. So what is it about Ethereum that has allowed it to weather the storm and come out ahead? The short answer: Ethereum is backed by real utility that many other cryptocurrencies, Bitcoin included, simply don’t have.

 

Ethereum cofounder, Vitalik Buterin, realized that blockchain technology was capable of supporting far more than just electronic cash systems. Rather than prescribing a narrow range of functions for which users could use the blockchain, he saw the potential for a blockchain platform on which developers could build any application they like. This would allow software designers to get all the benefits of blockchain technology — decentralization, inalterability, security, etc. — without having to build their own personal blockchains. That’s the vision behind Ethereum, and so far it’s been a tremendous success.

 

Since its release in 2015, Ethereum’s network has become home to thousands of decentralized applications, or dapps. Many of these dapps are still in the development stage and have yet to go live, but Ethereum has set itself up to be the foundation for a huge software ecosystem. 


Tags: ethereumcoinsoftwarebusinessblockchain

Read original article » Back to category

Comments



 

Recent headlines

  • Posted in Science on 2018-12-09 23:56:38
    CRISPR Babies: Mankind's Next Giant Leap?..read more
    Posted in Hardware on 2018-12-07 14:22:16
    SpaceX Successfully Launches to Space Station But Rocket.....read more
    Posted in Science on 2018-12-07 14:17:51
    Simulated One Gravity Living on the Moon and Mars With a.....read more
    Posted in Business on 2018-12-07 14:12:33
    Most Valuable Company Title Moved Between Amazon, Apple.....read more
    Posted in Science on 2018-12-04 03:51:30
    SpaceX Lessons Which Massively Speed Improvement of Products..read more
Posted in Business on 2013-10-10 01:33
China is working towards a manned lunar mission in about.....read more
Posted in Business on 2013-10-20 07:17
Spacex says China is their main competitor for commercial.....read more
Posted in Software on 2013-10-20 06:43
Pirate Bay Browser Clocks 1,000,000 Downloads..read more
Posted in Medicine on 2013-10-10 02:10
Google reportedly investing hundreds of millions into new.....read more
Posted in Medicine on 2013-10-14 03:13
Endothelial Cells Can Repair and Regenerate Organs,.....read more
Posted in Science on 01.01.2010
Spacex says China is their main competitor for commercial.....read more
Posted in Science on 01.01.2010
Staring at Your Phone Could Be Making You Short Sighted..read more
Posted in Science on 01.01.2010
Oculus Rift virtual reality headset coming to mobile, but.....read more
Posted in Science on 01.01.2010
China is working towards a manned lunar mission in about.....read more
Posted in Science on 01.01.2010
Delivering drugs via nanoparticles to target mitochondria..read more

Recent Blog Posts

  • Posted by AlexMuller
    Even light drinking increases risk of death..read more
    Posted by AlexMuller
    Researchers have discovered how to slow aging..read more
    Posted by AlexMuller
    Human retinas grown in a dish explain how color vision develops..read more
    Posted by AlexMuller
    The smartphone app that can tell you’re depressed before you.....read more
    Posted by AlexMuller
    Neural networks don’t understand what optical illusions are..read more

Login to your Account

Login to your PlanetTech Account here

Username:
Password:
Remember me
or

Create a New Account

You just need username and password

The following errors occured:
Username:
Email:
Password:
Verify password:
Remember me