Crypto-currencies: Ether, the alternative to Bitcoin

Bitcoin and Ethereum signs

If everyone has already heard of Bitcoin, Ether, launched in July 2015, is a less well-known but very promising challenger with unprecedented growth and development potential.

In fact, the Bitcoin must now rely on a serious competitor. Ether has become the second most traded crypto currency on the market.

Alike Bitcoin, it uses Blockchain technology with some differences. It certainly goes further by adding its own internal programming language, which will allow developers to design an infinite number of decentralized applications.

Blockchain? Since crypto currencies are not under the control of the State or a central bank, it was necessary to invent a way to keep a record of transactions, in order to:

  • Transparent: everyone can consult all the exchanges, present and past.

  • Secure and unforgeable: unlike more traditional databases, it is “distributed”. This means that different copies exist simultaneously on different computers called “nodes” of the network. This prevents the Blockchain from being hacked.

  • Decentralized (without control body) : it is based on peer-to-peer exchanges (P2P)

A Blockchain is therefore the equivalent of account books.

Transactions and history are stored in a data block, then the network computers are put in competition. The first one to validate a complex calculation approves the transaction (which can yield cryptocurrency).

The rest of the network examines it again before archiving it. The history is multiplied.

It is possible to acquire Ether and pay with it. To do this, you need to create a virtual wallet and this quite easily by opening an account on for example.

Caution however, crypto money prices are very volatile in general, and in particular Ether.

Between 29/03/2017 and 07/04/2017, the Ether has dropped by 19%. And between 24/04/2017 and

30/04/2017, the Ether has gone from 44€ to 64€ (ETHEUR price) or an increase of nearly 45% within a week !Therefore, Ether should be considered a high-risk asset, and it should be kept in mind that you can lose by investing in these crypto currencies.>>

Salem Mabrouk

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