“Excuse me, I’m just getting used to the ether.” As cryptocurrencies become more popular, it’s likely more of us will be saying this Call of Duty quote. Ether, a cryptocurrency, first came on the scene in 2013. It is currently the second most powerful and popular cryptocurrency after Bitcoin, occupying a spot on the popular cryptocurrency site, Coinbase.
Interestingly, Ether is actually a fuel of sorts that supports a bigger program called Ethereum. The idea behind Ethereum is to democratize the internet by returning people’s personal information to them from Google, Amazon, and other large data storers. Ether is used in Ethereum to run decentralized applications and this is how it is useful as a cryptocurrency. It’s an internal currency contributing toward Ethereum’s overall goal.
Because there is a demand to trade ether, people that aren’t directly engaged in the production of applications or the democratization of the internet can still put money into ether. In my mind, it works sort of like investing in stocks. You may not understand how a company makes it money, but you like the prices you see related to its stocks and invest.
Anyway, that’s my take on the four year old Ether. On another note, the symbol looks like something out of a sci-fi story.