{"id":8573,"date":"2021-10-25T10:24:33","date_gmt":"2021-10-25T10:24:33","guid":{"rendered":"http:\/\/TheNextWeb=1370990"},"modified":"2021-10-25T10:24:33","modified_gmt":"2021-10-25T10:24:33","slug":"ethereums-upgrade-is-finally-coming-will-it-overtake-bitcoin","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=8573","title":{"rendered":"Ethereum\u2019s upgrade is finally coming \u2014 will it overtake Bitcoin?"},"content":{"rendered":"\n

The world\u2019s second most valuable cryptocurrency, ether, has been touching all-time highs in price ahead of a major upgrade of its underlying platform, ethereum. Ether is currently worth in aggregate just shy of US$500 billion (\u00a3363 billion)<\/a>. That\u2019s still slightly less than half that of the biggest cryptocurrency, bitcoin.<\/p>\n

But could this upgrade, a vital step towards a much greener and faster version of the current system, put ethereum on the path to becoming the dominant platform on the internet and make ether number one?<\/p>\n

First of all, it\u2019s important to understand the difference between bitcoin and ethereum. Bitcoin is a system for allowing people to send value between one another without the need for banks. It is built on a technology known as blockchains, which are online ledgers whose transactions are checked and recorded by a decentralized network of computers known as validators.<\/p>\n

These validators are incentivized for their work by receiving newly minted bitcoin as rewards, in what is known as \u201cmining\u201d. To make this more attractive, bitcoin is relatively scarce: only around 18 million coins are in existence and the protocol is such that there can never be more than 21 million.<\/p>\n

Ether vs bitcoin by total value (market cap)<\/strong><\/p>\n

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