A tale of two cryptocurrencies: Ethereum and Bitcoin’s ongoing challenges
It’s been one of the most interesting months in the history of cryptocurrency. The price of Bitcoin has soared up to nearly $800 (then dropped to $675 as $19 million in BTC hit the market) as the reward for mining a block is soon set to be halved. Ethereum created what is arguably the world’s most complex multi-million dollar financial instrument, the DAO, only to see it hacked through a combination of flaws in its “smart contract” and the language it was implemented in. Meanwhile, the average size of a block in the Bitcoin blockchain nears 90% of the 1MB hard limit.
I’ve been meaning to write a year-in-review followup to my previous post The Death Of Bitcoin, but with the recent events covering Ethereum I just couldn’t help but cover that too, and also speculate what effects this will have on Bitcoin.
Ethereum’s Hindenburg moment: The DAO disaster and smart contract security...
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