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A group of decentralised writers, enthusiasts and evangelists.

Passionate about the advancement of Blockchain; and ensuring we include tomorrow's users today by educating them in an easy to understand way.

 

The Blockchain News Team

 

Ether Currency: 12 Things to Know About the Bitcoin Alternative

Ether Currency: 12 Things to Know About the Bitcoin Alternative

Ether is a virtual currency on the Ethereum platform that may rival bitcoin in the future.

Source: Shutterstock

Source: Shutterstock

Here are a few things to know about the ether currency.

  • The virtual currency was first introduced in 2015.
  • During its introduction, traders could pick the currency up for $1 per token.
  • At the start of 2017, the price of ether had reached roughly $8.
  • The virtual currency’s value as of Tuesday, May 30, 2017 was a little over $225 per token.
  • One of the major reasons for the value of the currency increasing was the forming of the Enterprise Ethereum Alliance in February.
  • The Enterprise Ethereum Alliance is a group of large corporations that have come together to learn about and build on the platform.
  • Members of the Enterprise Ethereum Alliance include Microsoft Corporation (NASDAQ:MSFT), JPMorgan Chase & Co. (NYSE:JPM), Toyota Motor Corp (ADR) (NYSE:TM) and many others.
  • Ether is a virtual currency based on the Blockchain software.
  • Blockchain software is currently considered unhackable due to its decentralised nature.
  • It is possible that Blockchain will allow users to no longer have to rely on banks and lawyers as a result of its “smart contracts” that are able to execute on their own.
  • Just like with bitcoin, ether can be mined with the help of a computer and a modestly powerful GPU.
  • There are also exchanges online that traders can use to buy the virtual currency with their own funds or credit cards.

You can follow these links to learn more about ether.

 

Source: Investor Place  by William White, InvestorPlace Writer

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