Ethereum, which is currently the second most valuable virtual currency after Bitcoin, attracts attention with its rapid increase. The value of Ethereum, which was released to the market in September 2015, was $1.28 at that time. Ethereum, which reached these levels until the beginning of 2017, started to rise rapidly when it caught the attention of users. Ethereum, which was worth $10 as of the beginning of January 2017, is worth $2.210 today. In other words, Ethereum has gained about 2.000 times its value and continues to gain every day.
The virtual currency era that started with BITCOIN is actually the beginning of the business. In order to dominate the market left from Bitcoin, which emerged as the first virtual currency, new
options have also been added.
The biggest competitor standing against Bitcoin is ‘Ethereum’. Just like Bitcoin, Ethereum, which users can buy through intermediary institutions, was introduced on July 30, 2015 by Canadian Vitalik Buterin at a virtual money conference in the USA. The biggest difference of Ethereum, which is claimed to be more advanced than Bitcoin as an encryption infrastructure, from Bitcoin is its algorithm structure. Developed with blockchain technology, which enables decentralized, encrypted and secure transactions like Bitcoin, the new virtual currency enables users participating in the network to generate new Ethereum using their computers’ hardware.
Energy source of the internet
In order to produce new virtual currency in Ethereum, unlike Bitcoin, instead of using the central processor (CPU), that is, the processor of the computer, instead of using the graphics processor (GPU), it uses a much faster graphics card. Therefore, it is claimed that it creates a different opportunity.
Vitalik Buterin, one of the founders of Ethereum, expresses the differences of the new virtual currency from Bitcoin as follows: “If we are to compare digital currencies with the valuable resources in the world, we can define Bitcoin as the most popular mineral gold and Ethereum as oil, completely different from the others. Because the technology behind Ethereum will be the energy source of the internet of the future. This is why we refer to Ether as ‘crypto fuel’. The energy needed by the Ethereum platform will be provided with Ether (ETH).
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