Ethereum, explained: because Bitcoin’s foreigner cousin is now value $1 billion

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Bitcoin has struggled to live adult to a hype that surrounded a presentation into a mainstream 3 years ago. Despite more than a billion dollars of try collateral funding, Bitcoin startups have unsuccessful to rise applications that seductiveness to mainstream customers. And over a past year, a Bitcoin village has turn inept by a bitter feud over how — and either — to enhance a network’s capacity.

The result: For a initial time given a creation, Bitcoin is in risk of losing a standing as a world’s heading cryptocurrency. The new challenger is a Bitcoin-like record called Ethereum that has seen a swell of seductiveness from users, developers, and a corporate world. The value of a network’s currency, called ether, is now value some-more than $1 billion — that compares to Bitcoin’s sum marketplace value of scarcely $7 billion. Last week, a heading Bitcoin startup called Coinbase announced it was adding support for Ethereum to a renouned banking trade platform.

The flourishing fad about Ethereum reflects a fact that it’s a lot some-more than only a Bitcoin clone. People can use a Ethereum network to make payments, only as they can with Bitcoin. But a network can do a

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