Hello Steemians!
Nex here, you missed me right? Haven't posted in a while. I was trying to deal with my huge meltdown over ethereum!
You see, I'm a super enthusiast of cryptocurrency and all that's related although I'm still trying to grasp blockchain and smart contracts, like I covered in some posts before.
So you can imagine what happened when I learned that ethereum briefly crashed from $319 to 10 cents in seconds on one exchange after ‘multimillion dollar’ trade.
The price of ethereum crashed as low as 10 cents from around $319 in about a second on the GDAX cryptocurrency exchange on Wednesday, a move that is being blamed on a "multimillion dollar market sell" order.
Ethereum is an alternative digital currency to bitcoin and had been trading as high as $352 on Wednesday - Hoorray development!
But there cannot be growth without some pain right?
The ethereum crash came with rising interest in the broader cryptocurrency space!
Ethereum in particular has been talked up because of the blockchain technology that backbones it.
Whereas bitcoin and its blockchain is seen as a payment network, ethereum has been designed to support smart contract applications - which we of PlainBroadcast believe is it's best attribute.
For those of you that are as enthusiastic as me about cryptocurrency
Like we explained in another post, a smart contract is a computer program that can automatically execute the terms of a contract when certain conditions are met.
The ethereum blockchain has also got backing from a number of large firms such as Microsoft and JPMorgan as can be read here: http://fortune.com/2017/02/28/ethereum-jpmorgan-microsoft-alliance/
(Worth the read if you can muster the patience!)
Ethereum is up around 4,100 percent year-to-date, based on the price it was trading at on Thursday morning, according to Coinmarketcap.
To me this means that ethereum WILL be the fuel for next-gen development in all of society, from hospitals to housing market!
Will we see a rise in ethereum to 500 USD like some economics and trading experts predict? Or will ethereum topple over to give way to something yet unknown?
The Cryptocurrency rollercoaster lives on.
Yours faithfully, Nex
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