Ethereum Breathing Down Litecoin's Neck as Market Cap Tops $100M

While everyone in the Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term sphere was focusing on the crash in the price of bitcoin, due to core developer Mike Hearn quitting the community and branding it a failed experiment, another drama has started unfolding.

Ethereum’s cryptocurrency, Ether, has steadily advanced its position in the crypto trading markets. The price of Ether increased by almost 37% over the past week and jumped about 13% in the last twenty-four hours alone to just above 0.0037 BTC ($1.40), thus further strengthening its position as the fourth biggest cryptocurrency by market capitalization.

Litecoin, probably the most widely known cryptocurrency after bitcoin, now has a market cap of just over $131 million after its price fell almost 16% in the last twenty-four hours to about 0.007889 BTC ($2.99). In contrast to the weakening LTC, Ether's market capitalization now reaches an impressive $107 million. Considering that Ether's market capitalization was just $39 million in August 2015, and only crossed $90 million last week, it can be expected to overtake Litecoin soon to become the third biggest crypto by market capitalization behind Bitcoin and Ripple if current trend continue.

Another milestone reached by Ether today is that for the first time ever its daily trading volume passed that of Litcoin reaching $1,905,030 compared with just $1,353,920 for LTC trading in the last twenty-four hours.

Sometimes called Bitcoin 2.0 or Bitcoin 3.0, Ethereum proponents see it as much more than just a cryptocurrency system as per the original idea of Satoshi Nakamoto Satoshi Nakamoto “Satoshi Nakamoto” is the alias of the mysterious person (or group of people) that are responsible for the creation and launch of Bitcoin back in 2009 and the authorship of the Bitcoin whitepaper, published in 2008. As such, Satoshi Nakamoto is also the entity who conceptualized and created the first-ever blockchain network. Nakamoto was the first to effectively solve the double-spending problem for digital currency using a Peer-to-Peer (P2P) network. Nakamoto was active in the development of bi “Satoshi Nakamoto” is the alias of the mysterious person (or group of people) that are responsible for the creation and launch of Bitcoin back in 2009 and the authorship of the Bitcoin whitepaper, published in 2008. As such, Satoshi Nakamoto is also the entity who conceptualized and created the first-ever blockchain network. Nakamoto was the first to effectively solve the double-spending problem for digital currency using a Peer-to-Peer (P2P) network. Nakamoto was active in the development of bi Read this Term. It is instead referred to as a “planetary scale computer” that can handle everything from secure communication and e-commerce, to digital governance, the internet of things and much more.