Ethereum, explained: why Bitcoin's stranger cousin is now worth $1 billionhttp://www.vox.com/2016/5/24/11718436/ethereum-the-dao-bitcoinBitcoin has struggled to live up to the hype that surrounded its emergence into the mainstream three years ago. Despite more than a billion dollars of venture capital funding, Bitcoin startups have failed to develop applications that appeal to mainstream customers. And over the past year, the Bitcoin community has become paralyzed by a bitter feud over how — and whether — to expand the network's capacity.
The result: For the first time since its creation, Bitcoin is in danger of losing its status as the world's leading cryptocurrency. The new challenger is a Bitcoin-like technology called Ethereum that has seen a surge of interest from users, developers, and the corporate world. The network's currency, called ether, is now worth more than $1 billion — that compares to Bitcoin's total market value of nearly $7 billion. Last week, a leading Bitcoin startup called Coinbase announced it was adding support for Ethereum to its popular currency trading platform.
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