The co-founder of Google has said that he has been getting involved in the crypto space by mining Ethereum, and he’s doing it with his son.
Interested in Blockchain Technology
Speaking at the Blockchain Global Summit 2018 in Morocco, Sergey Brin, co-founder of the American multinational technology company, was talking about the blockchain’s potential.
During a panel discussion yesterday, Brin explained that he initially became interested in the technology a few years ago when his son asked for a gaming PC, reports Business Insider. He said:
I told him, ‘Okay, if we get a gaming PC, we have to mine cryptocurrency.’ So we set up an ethereum miner on there, and we’ve made a few pennies, a few dollars since.
Serving as president of Google’s parent company, Alphabet, Brin stated that Google had been slow to pick up the technology. He notes:
[Google] already failed to be on the bleeding edge.
At the time of publishing, Ethereum is trading at $441, according to CoinMarketCap. In the past 24 hours, it has dropped by 9.25 percent. In the past seven days, it is down by 6.42 percent.
Turning to Ethereum
With a market cap worth $44.4 billion, ETH is steadfastly holding on to second place. Yet, while it’s not number one, that’s not stopping its potential. Even though Bitcoin remains the top dog, Ethereum is slowly gaining mainstream acceptance as well.
Last month, it was reported that the Sacramento Kings basketball team were mining Ethereum. Their purpose? For charitable causes in California’s capital city.
In February, crypto holders during the PyeongChang Winter Olympics had the option of using Ethereum at seven locations in South Korea instead of won. With its popularity rising, a study projects Ethereum’s market cap to triple by the end of the year.
Between Bitcoin and Ethereum, the second-placed crypto asset is the underdog. Yet, according to a study, it is the best investment option. Data was compiled by New York-based law firm Foley and Lardner. It found that 38 percent of respondents viewed ETH as the best investment opportunity. This is compared to Bitcoin at 35 percent. Ripple was third at 5 percent, followed by Dash, Zcash, and Monero with 2 percent each.
Notably, though, Bitcoin trumps them all when it comes to being accepted for payments, with 43 percent. Second-placed Ethereum was at 17 percent.
With more people turning to the cryptocurrency, could it one day replace Bitcoin at the top? For now, it remains to be seen.
Do you think it will replace Bitcoin? Let us know in the comments below.
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