You probably still remember the bitcoin virtual currency that generated a variety of polemics in various countries. Now bitcoin has a rival, a virtual currency called Ethereum whose value jumped dramatically to 1,000 percent in just three months.
Large companies in finance and technology such as JPMorgan Chase, Microsoft, and IBM also helped highlight the existence of Ethereum. They call Ethereum a Bitcoin 2.0.
Just like Bitcoin, the Ethereum system is built by blockchain that records all transactions. This system promises an exchange system of money and assets faster and cheaper than conventional chain systems.
However, the excess of Ethereum versus Bitcoin is Ethereum not only serves as a virtual currency. The Ethereum software also creates a way to create an online market and programmable transactions known as smart contracts.
This system is quite complicated but with only one application a trader or farmer can directly sell their goods to the consumer and receive payment directly as well.
Various systems of this kind have been built in Ethereum, allowing new ways to organize and pay utility bills, sports betting, to Ponzi scheme investments.
Ethereum headquarters is located in Brooklyn, New York, United States and has at least 50 developers.
However, many view this Ethereum system as causing various technical and legal issues such as Bitcoin.
However, Ethereum's system capabilities are so dazzling for some corporate executives in the US. Last year,
IBM said "it was testing Ethereum as a way of controlling objects in the real world on the internet".
Microsoft also conducted a series of projects to facilitate the use of Ethereum in cloud Azure.
"Ethereum is a common platform where you can solve problems in many industries with elegant solutions.This is the most elegant solution we've seen so far," said Marley Gray, director of business development and strategy at Microsoft.
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@Ahlal