Published on September 2nd, 2015 | by bitcoin0
Based on computer power, Ethereal has created a Bitcoin-like drytocurrency
This could be financed by ads, user fees or data sales, but UK startup Ethereum has now created another option, in the form of a Bitcoin-like cryptocurrency Ether, the value of which is based on computing power.
Ether, like Bitcoin, runs on its own software platform and the currency can be traded.
Eventually the smart home devices could exchange the cryptocurrency with one another, powering the Internet of things, while reducing computing costs and guaranteeing consumer privacy.
For now, Ethereum has launched the initial platform — called Ethereum Frontier — an open-source software platform, which enables any coder to write blockchain-based applications and encourages people to join Ethereum’s network by adding their computer’s computing power.
Ethereum’s network will be perfect for running constantly connected, low power devices — such as temperature monitors or lighting controllers.