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Competing with Bitcoin, Ethereum Crypto Asset Prices Reach IDR 20 Million

Bitcoin
Bitcoin

JAKARTA – crypto assets Ethereum experienced a very significant price increase in early 2021. It was note that the Ethereum price broke the highest level of IDR 20 million per unit, same as Bitcoin.

Since its launch in 2015, Ethereum is trading at a price of less than IDR 40 thousand per unit. Ethereum’s price increased more than 10 times in one year.

For the record, in early 2020, Ethereum was selling for IDR 1.8 million. Then the price continued to rise and finally broke the record Rp. 20 million. Ethereum is the crypto-asset most popular with the market cap second largest in the world after Bitcoin.

Indodax CEO Oscar Darmawan said the significant increase in Ethereum price occurred. Because the crypto asset was upgrading to Ethereum 2.0. The evolution phase to Ethereum 2.0 has started at the end of December 2020.

Ethereum will be predict by many parties since its launch that it will replace Bitcoin and be known as Bitcoin 2.0. Because of the smart contract feature that does not have blockchain Bitcoin and this feature is constantly being updated.

“The price of Ethereum has increased dramatically tenfold along with // upgrading the network blockchain Ethereum,” Oscar said in his statement, Wednesday (20/1).

Ethereum is foreseen as a replacement for Bitcoin

Ethereum itself was widely predicted as a replacement for Bitcoin at the beginning of its launch because it complements the weakness of the network blockchain Bitcoinwhich only functions as a store of value.

It was develope by the company Ethereum Foundation and created by Vitalik Buterin at the age of 19. Currently, Ethereum is the company blockchain the most developed with a smart contract feature that allows developers to build applications on top of Ethereum.

Ethereum has a business line using a network platform that gives birth to many crypto assets. In this upgrade phase, Ethereum overhauled its network to be more efficient, cheap and fast.

 

Also, read too another news article here.

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