Ethereum has been characterised by a lot of volatility in recent times. Why is it that we need to start paying attention to it? And why is it set mining bitcoin definition of overtake bitcoin by 2018?
In this guide we will answer these questions and more. History of Ethereum We need to start in the beginning. The infographic below traces the history of Ethereum and identifies the key events that lead it to emerge as one of the most important cryptocurrencies. Starting in 2013, the infrastructure started to be built that would allow this new coin to pose a major threat to the main ‘rival’: bitcoin. Ethereum is set to overtake bitcoin by 2018. How Ethereum is Set to Overtake Bitcoin in 2018 In order to understand how ethereum is set to overtake bitcoin we will introduce key ethereum concepts first. Once this is done we will address the core issue of concern in this guide: why we think ethereum will be the most important cryptocurrency in 2018.
Ethereum’ a term that often works the tongue while pronouncing it. But yet, it is a word that we must become accustomed to in the new found world of blockchain technology. By definition, Ethereum is a decentralized platform that runs smart contracts. The platform was developed by Ethereum Foundation, a Swiss non-profit, with some expert advice from great minds across the globe. The platform dawns us to a new found world of blockchain technology where all applications run exactly as programmed without fraud, third party interferences, or even a downtime. This is a feature that is only unique to Ethereum. That said, Ethereum’s applications potential are endless.
As a matter of fact, Ethereum does not just offer a platform. It helps developers create markets, store registries of debts as well as move funds in accordance with past instructions. Ethereum is braised to change the global technological infrastructure as we know it. Most cars run on gasoline while others have to be plugged in before they go out. With Ethereum, Ether, a new form of gasoline is required, something that all these new and exciting applications need in order to run.
It is a platform-specific cryptographic token. Think of it as a ticket that gets you through the gates into a concert or a football match. There is so much that is happening right now around the Blockchain Technology. New applications are being developed and by default, new terms, concepts, and languages. It is therefore imperative to keep pace with these changes.