Crypto-fuel could power the growing Internet of Things
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If the Internet of Things continues to grow at the expected rate, smart devices will soon demand huge amounts of computing power and cloud services in order to simply function and interact with each other. This could be financed by ads, user fees or data sales, but UK startup Ethereum has now created another option, in the form of a Bitcoin-like cryptocurrency Ether, the value of which is based on computing power. Ether, like Bitcoin, runs on its own software platform and the currency can be traded. Each trade is recorded and verified onto a blockchain, powered by so-called miners.…
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