Ethereum is considered the second largest cryptocurrency in the world, and it has made a lot of people a lot of money. But maybe they should be thankful for a rather curious set of events that brought this blockchain to life.
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LONDON, ENGLAND – DECEMBER 08: Ethereum Founder Vitalik Buterin during TechCrunch Disrupt London 2015 – Day 2 at Copper Box Arena on December 8, 2015 in London, England.
Specifically, they must credit the very popular MMORPG “World of Warcraft”. This is because, according to Ethereum creator Vitalik Buterin, a nerf on his WoW character essentially pushed him into crypto, NME reported.
According to Buterin, said nerf is the one released in 2010 that removed damage from the Siphon life spell, which he used for his Warlock character. This was patch 3.1.0, which was the first major add-on for the “Wrath of the Lich King” expansion.
This proved to be difficult for Buterin to manage, as, in his own words, he “fell asleep crying”. But it also apparently made him aware of the alleged “horrors” of centralized services.
Eventually, Buterin will leave “World of Warcraft”. A year later, he would then discover Bitcoin, according to Dexerto.
From there, Buterin would focus on cryptocurrency, which led him to create the original concept of Ethereum in late 2013. He first announced this at a Bitcoin conference held in Miami on same year, where it was presented as a platform that could include real ones. global assets like properties and stocks, according to Polygon.
The Ethereum blockchain has grown so much over the years. He’s now big enough to at least play the second-fiddle role to Bitcoin, as well as have his own “challenger” in newcomer Cardano.
Read also: Bitcoin will replace central bank money by 2050, experts say
Ethereum: what exactly is it and why is it popular?
Contrary to popular belief, Ethereum is not exactly a cryptocurrency per se, like Bitcoin. It is a blockchain, the current crypto is called Ether (ETH).
But that doesn’t rule out the fact that currently, the market capitalization of the entire blockchain is valued at $ 25 billion. This is why Ethereum is considered the second most valuable for Bitcoin ($ 185 billion), Investopedia wrote.
With this massive valuation, it’s no secret why Ethereum has captured the imaginations of crypto miners around the world.
(Photo: INA FASSBENDER / AFP via Getty Images)
The photo shows a physical imitation of an Ethereum cryptocurrency in Dortmund, western Germany, January 27, 2020.
The popularity of Ethereum has affected other areas of the tech space as well: in particular, the graphics card market.
With its constantly evolving platform driven by constant innovation from a massive community of developers, according to Forbes, Ethereum and its value have changed over time. As such, these constant updates aimed at improving the blockchain also increase its value. This has resulted in massive shortages of graphics cards and price increases.
In early September, a price hike in Ethereum pushed up NVIDIA graphics card prices in China by 18%. Now this is proof of the power of this blockchain.
Bitcoin remains the king of cryptocurrency, but who knows? Over time, and especially with the impending Ethereum 2.0 upgrade, perhaps it could be dropped.
Until then, Buterin’s creation will continue to do its job.
Related: Cardano and Ethereum 2.0 get a new challenger? 30 million USDC transferred to Arbitum spotted
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Written by RJ Pierce
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