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Ethereum, a Virtual Currency, Enables Transactions That Rival Bitcoin’s – The New York Times.

Like Bitcoin, the Ethereum system is built on a blockchain in which every transaction is recorded publicly. The promise of such a system is that it allows the exchange of money and assets more quickly and more cheaply than relying on a long chain of middlemen.

But Ethereum has also won fans with its promise to do much more than Bitcoin. In addition to the virtual currency, the software provides a way to create online markets and programmable transactions known as smart contracts.

The system is complicated enough that even people who know it well have trouble describing it in plain English. But one application in development would let farmers put their produce up for sale directly to consumers and take payment directly from consumers. There are already dozens of functioning applications built on Ethereum, enabling new ways to manage and pay for electricity, sports bets and even Ponzi schemes.

Read more.

The graphic above is our bitcoin # of orders, we added bitcoin at peak bitcoin and there were thousands of transactions/week now maybe a few a week. We’ll see what happens with Ethereum 🙂