Bitcoin Surges 7.07% To $47,587.38

Share post:

Bitcoin shot up 7.07% to $47,587.38 on Friday, extending its previous close by $3,142.93.

The latest update suggests that Bitcoin is now 71.6% above its January 4 year low of $27,734.

The second widely acknowledged coin, Ether, the coin linked to blockchain network Ethereum, rose 7.86% on Friday to $3,284, adding $243.55 to its previous closing price.

While it continues to test Bitcoin at a distance of several thousand dollars, the potential applications of the Ethereum platform, lower environmental impacts, and technical upgrades are classified to give it a better performance advantage over Bitcoin.

Both Bitcoin and Ethereum operate on a proof-of-work system that requires a global network of computers that runs 24/7.

While Bitcoin still largely uses carbon emissions to secure its network and mining operations, software developers at Ethereum are taking a very different approach to secure its network as it strives to eliminate the carbon emission issue.

For more information, read the original story in Reuters.


Related articles

84% of PC users unwilling to pay extra for AI features?

A recent poll conducted by the site TechPowerUp has revealed a significant trend among PC users: a strong...

Microsoft lays off DEI team

Microsoft has laid off its internal team dedicated to diversity, equity, and inclusion (DEI), a move that has...

Australian Craig Wright finally forced to concede he did not invent Bitcoin

Australian Craig Wright has finally conceded that he is not the mysterious inventor of Bitcoin, Satoshi Nakamoto, following...

FBI rapidly hacks into Trump shooter’s phone, raises privacy concerns

Just two days after the attempted assassination at a Trump rally, the FBI announced it had gained access...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways