The NY Times does a great job of digging into Ethereum, a bitcoin alternative that is garnering a lot of attention from WallStreet.
The Ethereum system has sometimes been described as a single shared computer that is run by the network of users and on which resources are parceled out and paid for by Ether. A team of seven co-founders helped Mr. Buterin write up the software after he released the initial description of the system. Mr. Buterin’s team raised $18 million in 2014 through a presale of Ether, which helped fund the Ethereum Foundation, which supports the software’s development. Like Bitcoin, Ethereum has succeeded by attracting a dedicated network of followers who have helped support the software, partly in the hope that their Ether will increase in value if the system succeeds. Last week, there were 5,800 computers — or nodes — helping support the network around the world. The Bitcoin network had about 7,400 nodes.