The second most used cryptocurrency in the world is also experiencing an unprecedented rally in this period, in the wake of bitcoin . In the last 24 hours, the ether , based on Ethereum technology , has reached a “personal” record of $ 1,928 , according to reports from CoinDesk . Since the beginning of the year, given the due proportions in terms of capitalization and listing, ether has also had a stronger increase compared to its older brother: 161.05% against 78%. Like bitcoin, this virtual currency is also born from blockchain technology, but it has a variety of different uses, although some may see it as a cheap alternative to the cryptocurrency created by Satoshi Nakamoto, which in 12 years has reached a value of 52 thousand dollars.
In this sense, its growth is favored by the trend of bitcoin. However, ether is the digital currency that is used in the Ethereum network, increasingly used especially by developers to create apps and smart contracts. So it works as a kind of decentralized software platform, differently from a currency like bitcoin which can be understood as a currency or store of value. Furthermore, unlike bitcoin, ethereum does not have a pre-established maximum “mining” limit. No government or company controls the issuance of ether, which is decentralized.
Some novelties have favored the growth of ether recently. Over the past month, for example, the Chicago Mercantile Exchange commodity market has launched cryptocurrency futures, potentially opening doors to institutional investors . Furthermore, an update launched about a year ago and still being distributed, could serve to flood the Ethereum 2.0 network . The upgrade would serve to allow thousands of more transactions every second. Finally, auction house Christie’s has decided to accept payments in ether for digital artwork, according to CoinDesk .