12:24 AM
Paul B
Ethereum, at the time of this writing is up to a high of $879.20 to USD according to coinmarketcap.com! I wasn't the only one relatively shocked by this. Twitter user @azerx tweeted the following:
What is going on with #ETH, its going up like crazy!— Rza [LTC][VTC] (@azerX) January 2, 2018
Way to go #ethereum 🚀🚀🚀 pic.twitter.com/1IUG4fiZUq
Twitter user @muslenerd tweeted the following reply:
#Ethereum proof of stake testnet just released. This is a big deal. Earth is going to have a new decentralized Internet very soon.— Crypt0 (@muslenerd) January 2, 2018
What is @muslenerd talking about? Well, according to BlockExplorer.com:
Ethereum developers have launched an alpha test network (testnet) for Casper, paving the way for the cryptocurrency to eventually transition to a proof-of-stake (PoS) consensus algorithm.
Like bitcoin, ethereum currently operates on a proof-of-work (PoW) consensus algorithm, meaning that the network is secured and new currency units are issued through “mining,” whereby participants solve cryptographic puzzles to validate transactions and create new blocks.
However, PoW has attracted criticism over the years, both for its tendency to centralize mining hardware into a few pools and for the amount of electricity it consumes.Whatever the reason, Ethereum is up baby! Check out these charts via coinmarketcap.com:
This is great news for crypto-investors since most crypto-coins have been in a slump since just before Christmas!
What do you think about this? Let us know in the comments!
