2017 is the big year for Bitcoin. The highest value, disappointment from SEC ‘the Winklevoss twins and the price higher than the gold.
But other digital currencies are also growing in volume. Ethereum is the just like Bitcoin but more complex. Earlier of this month ethereum approaches against the bitcoin in its daily volume.
So, do I know about Ethereum?
A distributed application support to crypto-market same as Bitcoin. You can shop with ethereum anyplace that accept it. Where ethereum is running on a smart contract, named as blockchain. Under the certain conditions, the system allows the trading of ethereum. Bitcoin also runs on the blockchain but don’t have an extra step for the completion of the trading process.
Ethereum can do that Bitcoin can’t????
This cryptocurrency is not an alien’s currency in this digital world. In addition, with little bit difference ether has the same features as the bitcoin has. Smart contract means you are performing something different from the daily routine such as shopping with ethereum. Furthermore, if you want to place a bet, ethereum will pay in case of Patriots wins.
By using ethereum you can arrange the crowdfunding campaign. According to the Huffington post, “Things are possible with Ethereum that aren’t imaginable with any other technology today.” Means your money will be taken over if the project didn’t meet its goals.
The smart contract has the power to replace lawyer, CEOs, and companies as well.
A Ph.D. student Benedikt Bunz says, “You don’t need to have Uber, the company, anymore,” and, “You could have the Uber contract handle the money and do the payouts.”
How use the Ethereum now?
Basically, ethereum is at its early experimental stage. Investors and speculators just keep their focus on building new applications – not working on the ethereum’s ATMs.
How can I buy Ethereum?
Just like bitcoin you need to register yourself with well-reputed company and place order for purchasing of the bitcoin.
What is the value of Ethereum?
March 24, 2017, ethereum’s values was $24 and now today ethereum’s value is $278.48.
What Ethereum already was done?
Ethereum is also used in build apps by taking the advantage of smart contract technology. Few of them use backing microfinance, build a practical world and prevent individuality of theft.
Is Ethereum is only substituted to Bitcoin?
No, there are more than 600 actives cryptocurrencies in the digital market. But, Ethereum comes with the complete different setup of the facilities.
Different risk of Ethereum
If there is something wrong with ethereum’s smart contract, the program will not crash only but it will sweep away all the money with no way to get that money back again. Bunz says, “the command could go through and would be irreversible.” Relax, it is a scary aspect but its chances are low.
How important could Ethereum actually be?
Potential is the main quality of the ethereum. Users of this technology are free to say that; this technology has the ability to replace the Uber including other varieties of service. Bunz says, “There are things that are absolutely possible that aren’t possible with mainstream currency and are not even possible with Bitcoin today,” and, “Things are possible with Ethereum that aren’t imaginable with any other technology today.”
The crypto market encountered an intense drop this Friday and Saturday. Coins were losing value with only three of the main twenty by market capitalization showing a development of more than 10 percent: Cardano, Qtum, and Neo.
Bitcoin also dropped from a Friday high of $15,266 to as low as $12,350 on Saturday. The previous two weeks have been extremely unstable for the first cryptocurrency, as it has accomplished an all-time high of $20,000 on Dec. 17, 2017, just to hold it for a single day and then losing around 32 percent of that value during the following couple of days.
The most recent fall is the continuation of that trend and there seems to be no recovery in sight as of yet.
Ripple, which has quite recently displaced Ethereum as the most elevated altcoin by market capitalization, has comparably dropped by 20 in the past two days. In spite of experiencing a powerful surge this week, it hasn’t been able to evade the “crypto slaughter.”
Luckily for holders of Ethereum, its drop has been less prominent. A tumble from $769 to $685, constituting only 11 percent loss of value, looks substantially more favorable to the performance of Bitcoin and Ripple. Particularly if you think about the slight recovery of 2.22 percent over the last few hours.
Overall, 2017 has been a good year for Ethereum, as it rose from $8 to over $750.
Other cryptocurrencies such as Dash, Monero, Litecoin, Bitcoin Cash, etc. have also suffered major drops over the weekend. However, the year 2017, for the most part, has been positive for the vast majority of cryptos and the crypto-growth in 2018 is expected to continue in the similar fashion.
News Credit: cointelegraph
Image: Google images
An ether wallet had received hundreds of thousands of dollars around two weeks ago. Unfortunately, those funds were later hacked form different wallets due to the negligence on the user’s end. If only a few security measures had been taken, some of those funds could actually be protected from the hacker.
How it happened
Maximum of funds were stolen from a user holding 973 ethers. What caused this hack was the fact that the user had a rooted android phone. Rooted Android phones are similar to jailbroken iPhones, which means that new applications can be installed but they have no security assurance that the apps are not malicious. That being said, such an app must have been installed on to the device providing the hacker access to your phone. On gaining access to the device, the hacker used an exploit to retrieve the backup phrase to Jaxx wallets. This exploit has not been fixed since Jaxx is a hot wallet, which means that coins are kept here for frequent use and not storage.
Ways to increase the security of your funds
Crypto security experts have provided a few tips on how you can maintain the security of your wallets and funds.
- Do not use public Wi-Fi even after using VPN.
- Be sure to turn on 2-FA for all your user accounts, with google authenticator.
- Do not store your private key unencrypted.
- Never access your funds from a rooted device.
- Do not install applications on your device that are not trustworthy.
- Keep a look out for phishing scams. Your private key should only be known by you.
- Bookmark your sites. Some fake sites are known to have URLs similar to the actual portals and could steal your personal info.
- If you possess a large sum of funds, split it amongst separate wallets to ensure that not all your money could be lost due to some blunder.
- Cold wallets are to be preferred over hot wallets and exchange wallets for storage.
Story Credits: coinidol.com
Image Credits: coinjournal.com
Kuper Sotheby’s International Realty is a Texas-based real estate firm that just made its first sale of a property using Bitcoin.
Bitcoin is gaining a massive amount of media coverage the past few years and has become the world’s most popular digital currency. For starters, it was just buying everyday items. This later expanded to purchasing flight tickets and online games and now you can buy luxurious items such as yachts, a suite, and a custom-built home.
While the price of the home hasn’t been revealed, the buyer focused more on the ease of the transaction. He simply transferred the coins to the seller’s wallet, who converted them to U.S. dollars.
“In all of my 33 years of closing transactions, I honestly couldn’t have expected something so unique to go so smoothly,” said Kuper Sotheby’s Sheryl Lowe, the buyer’s agent, in a press release. “In a matter of 10 minutes, the bitcoin was changed to U.S. dollars and the deal was done!”
This shuts the comments made about bitcoin being “a fraud.” Moreover, it shows that more and more people are now beginning to accept cryptocurrencies and applying them in their day-to-day life.
News Credits: futurism.com
Image Credits: OWLbtc.com
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