Is Ethereum the next Bitcoin

The next cryptocurrency on a record course | Ethereum shoots through the $ 3,000 mark

Ethereum is slowly outgrowing the "little bitcoin brother" ...

The currency is at a record high!

Ethereum is the second most important digital currency. The course now passed the psychologically important mark of $ 3,000 for the first time. The second most important cyber currency increases by twelve percent to 3,094.95 dollars.

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Many investors viewed the cryptocurrency as undervalued compared to Bitcoin, Naeem Aslam, chief market analyst at brokerage firm AvaTrade, told Reuters.

Due to the enormous demand from institutional investors, Ethereum could rise to $ 5,000 in the medium term!

Blockchain technology as the basis

Ethereum is younger than Bitcoin. According to media reports, it was put online by Moscow student Vitalik Buterin in 2015. Bitcoin, on the other hand, has been around since 2008.

Similar to the crypto pioneer, Ethereum is based on blockchain technology. That means: There is no central point that controls, monitors and stores the transactions. This is done by the network from all users. All data is checked locally and stored in encrypted form.

At the same time a platform for business processes

In contrast to Bitcoin, however, Ethereum is not a pure cryptocurrency. It is also a kind of platform on which business processes can be mapped. In the case of digital contracts, so-called “smart contracts”, for example, transfers can be linked to the fulfillment of certain conditions.

The digital means of payment on this platform is called Ether. A maximum of 18 million new ethers come onto the market each year. Similar to Bitcoin, new digital coins are obtained through mining. Users provide computing capacity for the encryption of transactions and are rewarded in the corresponding crypto currency.