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Ether, the digital currency born out of Ethereum, has a lot in common with Bitcoin in that they are both open source digital currencies that are used for certain anonymous transactions. In 2013, Russian programmer Vitalik Buterin (also known as V God) founded Ethereum based on Bitcoin because it was designed only for the cryptocurrency scenario and lacked flaws such as Turing completeness. Unlike Bitcoin’s blockchain, Ethereum has a key piece of technology called “smart contracts” that not only track transactions, but also program them. So if Bitcoin is a payment technology, Ethereum’s blockchain technology has other applications in the real world, ranging from gambling to banking. Ethereum is currently the most widely used public blockchain system that supports complete application development. That’s one of the big reasons behind the Ethereum rally.
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