Few Geeky Facts About The Ethereum…

Ethereum is the world’s second most popular cryptocurrency after Bitcoin. This year, its total capitalization was $272 billion. Like the aforementioned BTC, this asset gained a lot after the outbreak of the COVID-19 pandemic. And although Ether is currently experiencing a small crisis, it is still considered by many investors as an extremely interesting medium in which to invest their capital. Not many people know that the history of this cryptocurrency is at least as turbulent as that of the already notorious in many ways Bitcoin. Here are some of the most surprising facts and trivia about Ethereum.

Unexpected success

As has been mentioned, Ether is a cryptocurrency created for the purpose of handling and supporting smart contracts. The creator of this concept did not assume that the internal means of payment within the platform would become an investment asset that the whole world would go crazy about. It is clear that the structure of the currency itself is largely based on the technology used in Bitcoin. However, Ether’s primal function was initially quite different. The milestone of the asset certainly turned out to be 2018, when it managed to break the barrier of a thousand dollars per token for the first time. For investors, this was a clear signal that the cryptocurrency had a lot of potentials and was an extremely attractive alternative to the then already expensive BTC. This proved true a few years later – in May 2021, the cryptocurrency recorded a record price of $3900 per token. In the spring, there were even speculations that it would reach the level of $10,000. Ultimately, this did not happen, although it is possible that in the near future such a scenario will come true. The point here is that the mining software used for Ethereum can be a little changed by experienced users. Do you know how to do that?

Anime bundle

It may seem strange, but Ethereum was to some extent inspired by anime works. Specifically, the works of the Japanese master of the genre – Hayao Miyazaki – the creator of such acclaimed films as “Princess Mononoke” and “Spirited Away”. The creator of ETH – Vitalik Buterin – while creating his own network and cryptocurrency, was mainly inspired by the movie “Laputa – The Sky Castle”. The heroes of the story used the magical crystal Ethereum, which enabled them to obtain energy from the air. Moreover, the crystal showed the antagonists the way to the desired destination, i.e. the castle of the title. As you can deduce, both the name of the system Buterin, but also the logo, was taken from this work of the legendary Studio Ghibli. Their mining OS seems to be based on another anime as well, but not many facts have been kept to support this thesis, unfortunately…

Rising while Bitcoin is falling

The history of ETH has shown that the currency has often recorded price increases during Bitcoin’s declines. Why such a correlation? Frustrated investors who had invested capital in BTC were looking for a way to quickly recover their lost money. Ether was a natural choice for them in such a situation. Some believe that ETH also has a much more stable market position. Here, however, it should be made clear that the relationship between the two cryptocurrencies is not a rule. The recent market crash affected both Bitcoin and the measure created by Buterin to a similar extent, with the right proportions. However, there is no denying that the number of BTC tokens exchanged for ETH has been sizable for some time, which clearly shows how the world’s second-largest cryptocurrency is growing in popularity.

All it shows that Ethereum is without a doubt second of the most popular cryptocurrencies. It has a lot of potential for further development which means a lot of people could invest in this kind of coin. Each of you should keep an eye on this specific project.

Looking for mining OS for Ethereum? Check Simplemining.net.

Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect those of Geek Vibes Nation. This article is for educational purposes only.