Tech by VICE

Why the Value of Ethereum Has Skyrocketed 4,000 Percent

Watch a short explainer on the cryptocurrency's steady rise.

by Caroline Haskins
Jun 20 2017, 5:18pm

Image: Ethereum/YouTube

Ethereum has been everywhere lately. The suddenly popular cryptocurrency has risen over 4,000 percent in value over the last year. It's now the second most popular cryptocurrency after bitcoin, and is worth billions of dollars. In this video, watch Motherboard staff writer Jordan Pearson explain the basics of everyone's new favorite cryptocurrency.

Invented in 2013 by 19-year-old Canadian programmer Vitalik Buterin, ethereum is more powerful than bitcoin, thanks to what are known as "smart contracts." Smart contracts are what investors are really excited about, and have contributed to ethereum's sharp rise in value.

Want to learn more about Ethereum? Check out our beginner's guide to the cryptocurrency.