2nd Wave of Cryptocurrency:
Led by Ethereum
During the second wave, which began approximately in early 2014, Ethereum has been among the strongest innovators and a darling of the “Cryptocurrency 2.0” movement. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
Soon afterward, the open-source code base of Bitcoin was being used to create a legion of “Alt Coins”. There have literally been hundreds of alt coins created, with the largest of these being Litecoin. While some have made progress based on unique features, in general there has been very little market traction among the alt coins.
Technologies are moving very fast… new technologies like blockchains and smartphone payments are disrupting traditional banking.Lee Hsien Loong, Prime Minister of Singapore
Blockchain, as the digital ledger, will heavily impact the way we do business in the financial services industry.Oliver Bussmann, CIO of Switzerland’s UBS Bank