Ethereum is the second largest digital currency after Bitcoin in terms of popularity, and as the MarketCap shows today.
The crypto has also achieved good growth during the recent period, with the value of the digital currency market to more than 99 billion dollars.
July 29, 2019 | AtoZ Markets - Ethereum is an electronic currency issued in 2015, with an open-source public platform based on a series of blocks –blockchain- that functions as a smart contract that facilitates the conclusion of an online contract that simulates traditional contracts, while providing a component of security and trust.
The platform is a decentralized software that enables smart contracts such as electronic contracts, distributed applications, their construction and operation without time and fraud and third-party insurance. Ethereum 2014 launched pre-sale for Ether, which received a tremendous response in the time. Ethereum was proposed in late 2013 by the programmer Vitalik Buterin.
Its development was funded by the public online, during July-August 2014, and then the platform was launched on July 30, 2015.
What does affect the value of Ethereum?
- First, the recognition of companies and the adoption of more applications on them, the more dealers increased the value.
- Second, the survival of its decentralized system away from any manipulation or penetration is necessary and healthy for it, otherwise the fact will collapse value if it is confirmed that it was a breakthrough and the money was stolen from the dealers.
- On the other hand, this currency is affected by its competitor, Bitcoin, which leads the sector. It has been noted that it achieved a growth rate of 1000% in 2017 in value compared to the doubled value of Bitcoin.
The difference between Bitcoin and Ethereum
the common features:
- Both Bitcoin and Ether are fast in trading and conversion.
- There is no transfer fee.
- Many countries are still discussing permitting the circulation of them or not.
Definition and properties of the Bitcoin
- Programmer Satoshi Nakamoto proposed digital currency as a means of electronic payment system to avoid any central authorities and can be easily traded through certain online platforms.
- "Bitcoin" is known to many that it is the virtual decentralised currency, meaning that no one can control it.
- No one can mint or print "Bitcoin", because it has several rules in circulation used by a group of individuals through the network "BlockChain" where you monitor and handle any transaction.
- The "protocol" of the Bitcoin rules, which is based on the introduction of 21 million digital currency only, and these can be divided into smaller units, known as "Satoshi", after the coin's inventor.
- Bitcoin differs from traditional currencies, which rely on mathematical calculations and not the standard of gold and silver, as Bitcoin customers use many different software to calculate their value.
Definition and properties of Ethereum
- The famous researcher and programmer, "Vitalik Buterin" launched "Ethereum" in the late 2013.
- It was not launched until July 30, 2015.
- A Swiss company developed the project in 2014.
- The currency is abbreviated as "Ether", and has seen a strong rise in value of more than 50% so far.
- It was first circulated in 2015 and cannot be used for traditional financial activities.
- It reached a value of about 7 billion dollars, at the beginning of 2017.
- The value of Ethereum has grown to more than 2800%, since the beginning of 2015.
- The volume of trading Ether differs from time to time. Sometimes, the the circulation value is about $ 100,000 per day and sometimes up to $600 million in the same frame.
- The Swiss people are the most who search for "Ethereum" on the Internet, as studies show, followed by Venezuela.
- Over the past few years, many trading platforms started offering "Ethreum".
- Ethereum has many customers today in various international markets, and trades have risen amid beliefs the Ethereum has a brilliant future.
The bottom line
I was not trying to push a crypto over the other one here in this article. However, helping both fans’ teams to understand the differences between the two cryptos more, along with those who feel they stand in between, not being able to decide which way to go.
After all, what you should trade should be based on what serves you most, studying your purposes of trading and the factors that govern/will be governing the market, in addition to one of the most important points here; which hands to put yours with.