Ethereum Survives Hack But It’s Still Behind Bitcoin

BitsPlan

A much-hyped new blockchain technology called ethereum survived the fallout from a disastrous robbery and is gaining credibility in the fin-tech world. But it remains in the shadow of its more famous rival: bitcoin.

Those are some of the conclusions of a new report published Thursday, which includes a survey of hundreds of blockchain enthusiasts and entrepreneurs, and describes larger trends in the still emerging field of fintech.

The survey, conducted by CoinDesk, asked respondents to assess the prospects of ethereum, a more versatile version of the distributed ledger technology (a.k.a. blockchain) popularized by bitcoin. Ethereum debuted last year, but suffered a major setback this spring when hackers exploited a flaw in its code to rob $60 million from other investors.

In response to the theft, the ethereum community agreed to rewrite core software code to recover the money, but the episode damaged the project’s credibility and made investors skittish about using ethereum technology. (Read my colleague Robert Hackett’s profile of those events here).

Now, though, it appears that people are growing more bullish as 67% of the survey respondents said they would consider using the ethereum protocol in future projects. Meanwhile, 63% of those deploying ethereum claimed the hack and the

Read more ... source: TheBitcoinNews

NO COMMENTS