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Techfoliance | 22 October 2017

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Basics of the fast-growing cryptocurrency Ether

Basics of the fast-growing cryptocurrency Ether

While Bitcoin is all about payment technology, Ethereum Blockchain technology is set to bring much more real-world applications. Discover how the two cryptocurrencies work and differs from one antoher.

Key Figures

Bitcoin nearly tripled in value so far this year while Ether is up roughly 4,000% year-to-date.


Ether virtually lost all its value in a single day in a June “flash crash”, from 319$ to 10 cents on one exchange before recovering all its losses.


Key Definition

Blockchain is the DNA of a digital currency that records every single transaction made.


Ether’s Blockchain is called Ethereum.


Smart contracts let people exchange not just money but also property, stock, etc. without having to go through a lawyer, notary or other service provider.


 

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