Until crypto currencies were invented, there was no possibility of electronic transaction between two parties and the money were generally distributed in decentralized manner. Also the level of security was not impressive with the conventional business model. At this time, bitcoin came into existence, Satoshi Nakamoto introduced a new form of crypto currency which overwhelmed all the major concern of the investors and direct transaction between two parties happened without the need of third party through electronic means.Fang Albert posts has brief concepts on ethereum and how it has better designs to perform more transactions.
Introduction of Ethereum – In a nutshell
There are some flaws with bitcoins so developers were keen on improving the technology, this led to the existence of ethereum. Ethereum is the second largest crypto currency after bitcoin. It was introduced in the year 2014 by a 20 year old VitalikButerin, yet boomed as a rising star in the next couple of years and reach the second largest crypto. Ethereum principally works on block chain technology. The introduction of Ethereum resulted in more secure transactions and the digital world has become more transparent. Fang Albert https://fangalbert.com in his blog mentions some of the major advantages of ethereum over bitcoins.
Is Ethereum a replacement to Bitcoins?
Ethereum was never invented to make a replacement to bitcoins. However because of the block chain technology and the faster transactions in addition to cheaper transaction it has grown more than 4000% whereas the growth of the bitcoin was only 400%. The unique feature of ethereum is, it works on decentralized type of database. It has the capability to provide the essential operating system for the next generation systems.
Fangalbert in his post has described some brief information on ethereum and its potential to become the best currency of 2018.