Ethereum Vs. Bitcoin: What Sets Them Apart?

Cryptocurrency Ether could prove to be more lucrative than Bitcoin trade. It's been flying in Bitcoin's shadow, but investors are taking notice of this powerful financial technology. While most people by now have heard of bitcoin trade or btc, not everyone is familiar with all cryptocurrency to include ether among others. There is an arm's race going on in the world of all cryptocurrency. And bitcoin trade and ether are leading the pack. Ether is a three-year-old digital currency and bitcoin's closet competitor. Ether has largely flown under the radar despite having grown at breakneck speed. Investors have been super bullish when it comes to bitcoin trade. With bitcoin trade since last year, because it nearly tripled in value last year from January 1st to June 22, 2017. But Ether is up roughly 4,000 percent for the same time period. These two rivals have a lot in common, as both are open source digital currencies that are used to make somewhat anonymous transactions. Ether even has digital coins just like bitcoin.

Both of these cryptocurrencies also saw their share of big volatile moves. Ether virtually lost all its value in a single day in a June 2017 flash crash. Ether went from $300 to 10 cents in one exchange before recovering all of its losses. There is a critical difference between the two cryptocurrencies. Bitcoin and ether are cryptocurrencies that are powered by a technology called blockchain. However many people think that the ether technology is much better. Blockchain is like the DNA of the digital currency. Blockchain is an online ledger that records every single transaction made. Since cryptocurrency has no physical imprint, blockchain allows for money to be tracked all over the web, so that it can't be copied or counterfeited. Ether's blockchain is called ethereum, and unlike bitcoins blockchain, it features a key technology called the smart contract. It doesn't just track transactions; it programs them. It is similar to that of automated payments and deposits. But imagine being able to have your money invest, to spend and to save all on its own. You are literally putting your money to work for you. Smart contacts let you exchange not just money, but property, stock, and really anything without having to go through a lawyer, notary or service provider. It cuts out the middleman entirely. That's why investors have taken notice, and why many people think ethereum is a stronger and potentially more lucrative technology than the one that underpins the bitcoin.

It's like the ultimate type of vending machine, you make a deposit of the cryptocurrency for the specific product that you want, and all the mechanics of the transaction are automated right down to the penalty you will receive if you don't hold up your end of the bargain. So whereas bitcoin trade is all about the payment technology, the ethereum blockchain is technology that has other real-world applications, ranging from gambling to banking. That's why a big driver of the ether cryptocurrency rally is its popularity among big corporates. Just look at Barclay's, it's using ethereum's smart contracts to trade derivatives. For all of the attention that Bitcoin has been getting, it has become clear that it is no longer alone in all cryptocurrency conversations. According to research that was produced by Cambridge University, there were between 2.9 million and 5.8 million unique users who were using a cryptocurrency wallet, as of 2017, most of them using bitcoin trade. The number of users of cryptocurrency has grown significantly since 2013 when there were just 300,000 to 1.3 million users.

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