I am trying to better understand the crypto currency space and am particularly drawn to Ethereum and some of the ERC-20 tokens coming out but I don't really understand what if any relationship they have to one another.
If more and more apps come out with ERC-20 tokens do those affect the value of Etherium? Are all tokens valued based on some difficulty of solving and is that readily available in non-programmer terms somewhere?
What I guess I'm trying to say is currently 1 Ether is $694.15 in USD. If there's a dApp (hope I'm using the right term) out there do they just randomly assign the value of their tokens or how is that price relationship determined?
I know today they're trying to make an ERC-20 app with tokens related to the USD. Do those tokens use 1/694 the power consumption of an Ether?