Price of Bitcoin rival Ether explodes

The prodigy of the crypto community, who is living in Switzerland Vitalik Buterin, is working on the super project Ethereum and has specially launched a new crypto currency that bears the name of ether. And this currency goes straight through the ceiling. In early January was an Ether (abbreviation: ETH) just 0.002 Bitcoin worth now of course is 0,014 Bitcoin – an increase of 700 percent. The previous maximum value is even higher, at 0,018 Bitcoin. Behind the rapid appreciation stuck two reasons.

For some time a debate dominated the Bitcoin scene. The number of daily transactions has become so high that the technology behind Bitcoin reaches its limits. Now it is being debated whether the software should be adjusted accordingly. Technically would be no problem, the software would be rewritten, expanded the size of the Bitcoin block. The downside would be that the digital currency would prone to censorship. The crisis is acute, the disagreement is not just a small dispute, but an almost unbridgeable trench having maneuvered crypto currency in the greatest crisis of all time. If the software is adapted to risk of censorship. If the software is not adjusted, Bitcoin can temporarily grow any more.

Ether benefits from this dispute. Those Bitcoin supporters who see the crypto project doomed, lobbying in the social networks for Ethereum and praise the recent achievement of Vitalik Buterin as an alternative to Bitcoin. As the currency reached the previous peak Ether were traded worth 60,000 BTC in only 24 hours.

Even more important than the now famous “Block Size” debate: Ethereum entered a new phase. The platform will soon release a new version. The current beta version is intended primarily for developers as a test environment in real time. Homestead will soon replace the current frontier version. This should make the system more stable, but above all more accessible: The liquidity of Ether coins is likely to increase greatly. Numerous platforms for trading digital currencies have already announced an integration. In Homestead, the final version “Serenity” will follow in a few months.

Facebooktwittergoogle_plusredditmailby feather

Leave a Reply