30 Mar '16, 12am

Look Out Bitcoin, Here Comes Ethereum

Look Out Bitcoin, Here Comes Ethereum

(Newser) – Bitcoin hasn't quite taken off the way many had hoped it would. Perhaps Ethereum will. The digital currency has gained interest from IBM, JPMorgan Chase, and Microsoft "as a sort of Bitcoin 2.0," reports the New York Times . Created around 2014 by a 21-year-old college dropout, Russian-Canadian Vitalik Buterin, Ethereum is much like its rival. Transactions are recorded publicly on a blockchain, which stores data without the need for a central repository. But Ethereum also supports decentralized applications and "smart contracts" that don't charge fees, Buterin tells CoinDesk . Essentially, two people betting on a sports game could program their bet into the blockchain so that the money—or Ether units—would be automatically sent to the winner when the game is over. It's a cool idea, but it comes with a downside: Ethereum's software is so complex that it's likely ...

Full article: http://www.newser.com/story/222766/look-out-bitcoin-here-...

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Photo Joseph Lubin, right, founded ConsenSys, which specializes in applications that run on Ethereum. Andrew Keys, left, i...

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Photo Joseph Lubin, right, founded ConsenSys, which specializes in applications that run on Ethereum. Andrew Keys, left, i...

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Photo Joseph Lubin, right, founded ConsenSys, which specializes in applications that run on Ethereum. Andrew Keys, left, i...

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