Digital currencies are the new trend now. A lot of cryptocurrencies have crept into the market since the inception of Bitcoin. Ethereum is one of them. If you are aware of this cryptocurrency then you must be knowing the attributes of this innovative technology.
However there are few things that have been concealed for most of us. Even though it is just other cryptocurrencies, there are few Ethereum secrets that are unknown to majority of the cryptocurrencies enthusiast. Here are some of them listed:
- Most of are of the misconception that Ethereum was released to be Bitcoin’s competitor. This is certainly not true even if it has created a wave of argument amongst investors about the better option. The founder and co-founder of Ethereum named Vitalik Buterin and Mihai Alisie respectively created the Bitcoin magazine in 2012. These creators figured out potential in the Blockchain and wanted to do more with this innovative technology. This resulted in creation of Ethereum which is now one of the best cryptocurrencies in the digital market.
- We all are aware of how Ethereum has shaken the digital currency market but very less now that banks and Ethereum have collaborated together. Banks need to protect the interest of their customers that is why this cryptocurrency is adopted. It is more consistent with the needs of banks. The value of Ethereum will rise even more once the concept of smart contracts is implemented on a widespread scale.
- Each and everything has a reason behind it. Most of us don’t know the reason behind the name Ethereum. There surely is reason. The name basically originated when Buterin was looking for a list of science fiction elements on the Internet. He liked the word Ether which means a medium allowing light to pervade all space and transmit transverse waves. Even though the founder of Ethereum played the game, World of Warcraft at that time, the name doesn’t related to the game. Any links of the game to cryptocurrency are subjected to co-incidence.
- Bitcoin was released to promote the concept of decentralized currency. In fact it was the primary focus. The case is different with Ethereum. There is no complete decentralization with this cryptocurrency. There is lesser degree of decentralization involved which is contemplated by investors as a more organized and controlled team. This has result into better Ethereum prices relative to Bitcoin in recent years. It may continue to have a more positive impact in nearby future.
- Most people use search engines before purchasing something. Similar is the scenario with Ethereum. Ethereum’s search had hit its peak 6 month back. There is a direct relation between the search interests and its price. This is one of the reason why there is a continuous growth in its value. Another interesting fact is that Ethereum is most widely searched in Switzerland. Most investors belong to this country.
These were some interesting secrets that most of Ethereum proponents are not aware of.