Ethereum is considered the world's second-largest cryptocurrency in the world, and it has made many people a lot of money. But perhaps they should be thankful to a rather curious play of events that brought this blockchain to life.
Specifically, they have to credit the massively popular MMORPG "World of Warcraft." That's because, according to Ethereum creator Vitalik Buterin, a nerf on his WoW character essentially pushed him into crypto, NME reported.
The said nerf, according to Buterin, was the one released in 2010 that took away the damage from the Siphon Life Spell, which he used for his Warlock character. That was Patch 3.1.0, which was the "Wrath of the Lich King" expansion's first major add-on content.
This proved to be hard for Buterin to deal with, as, in his own words, he "cried himself to sleep." But this also apparently made him realize the alleged "horrors" of centralized services.
Eventually, Buterin would quit "World of Warcraft." A year later, he would then discover Bitcoin, as per Dexerto.
From there, Buterin would devote himself to cryptocurrency, leading him to create the original concept for Ethereum in late 2013. He first announced it during a Bitcoin conference held in Miami the same year, where it was pitched as a platform that could include real-world assets like properties and stocks, according to Polygon.
The Ethereum blockchain has grown so much over the years. It is now big enough to at least play second-fiddle to Bitcoin, as well as have its own "challenger" in the newcomer Cardano.
Ethereum: What Is It, Exactly, And Why Is It Popular?
Contrary to popular belief, Ethereum is not exactly a cryptocurrency per se, like Bitcoin. It's a blockchain, with the actual crypto being called Ether (ETH).
But that doesn't discount the fact that as of present, the entire blockchain's market capitalization is valued at $25 billion. This is why Ethereum is considered the second most valuable to Bitcoin ($185 billion), Investopedia wrote.
With this massive valuation, it's no secret why Ethereum has captured the imagination of crypto miners around the world.
The popularity of Ethereum has also affected other areas of the tech space: specifically, the computer graphics card market.
With its ever-changing platform pushed by constant innovation from a massive community of developers, according to Forbes, Ethereum and its value changed over time with it. As such, these constant updates that aim to improve the blockchain is also pushing its value up. This has resulted in massive graphics card shortages and price increases.
Back in early September, an Ethereum price increase drove the prices for NVIDIA graphics cards in China up by 18%. Now, that is proof of just how powerful this blockchain can be.
Bitcoin remains the king of cryptocurrency, but who knows? Over time, and specifically with the imminent Ethereum 2.0 upgrade, maybe it could be deposed.
Until then, Buterin's creation will keep doing its thing.
This article is owned by Tech Times
Written by RJ Pierce
