While Bitcoin market slowed down, virtual currency Ethereum surpassed $2,800 for the first time in history, breaking new highs.
According to CoinDesk on the 29th (local time), Ethereum has continued to rise and fall in the $2,700 range since it once surpassed its all-time high of $2,800. Bitcoin, on the other hand, remains at $53,600, down 2.2 percent from 24 hours ago.
Ethereum’s highest price break came after the European Investment Bank (EIB) announcement. It announced its plan to issue digital bonds based on the Ethereum blockchain platform the previous day. The EIB, which has European Union members as shareholders, plans to issue digital bonds worth 100 million euros with two years of maturity.
In particular, unlike Bitcoin, Ethereum has many advantages over Bitcoin in that it enables various forms of transaction, which may be used more widely in the future.
The advantage of Ethereum, which Ethereum advocates are paying attention to, is “Smart Contract.” Ethereum has its own programming language. Which allows developers to create applications through coding. With this built application, developers can create all possible forms of contracts, which is smart contract. In principle, all kinds of contracts are implementable through Ethereum. Because developers can code the terms and contents of the contract themselves. Experts also call it Blockchain 2.0 in that it has advanced blockchain technology one step further.
NFT (Nonfungible Token) is an example of a good use of this. NFT, a form of virtual assets that is rapidly emerging recently, is a technology that gives digital products such as images, videos, and tweets a unique recognition value, giving them the right to own digital products. Most NFTs are manufactured and traded based on Ethereum platforms in that they can trade various digital products just through coding by developers.
