With the increase in investment opportunities, there are numerous companies in the race of offering the best digital currencies. One of such renowned currencies is Ethereum. It works on the Ethereum blockchain. Just like the other cryptocurrencies, This cryptocurrency is a digital currency which has a blockchain system for transactions. In the battle of digital currencies, ethereum has emerged as a considerable digital currency!
Here is all you need to know about Ethereum and the investment possibilities:
What is Ethereum?
Ethereum is a digital currency proposed by Vitalik Buterin in 2013. He is a cryptocurrency developer and researcher who found funding for This cryptocurrency from online crowdscale. The aim to develop ethereum was to develop decentralized applications. Ethereum has faced 5000% rise in value from the beginning of 2017.
How it works?
During the launch of ethereum, it was believed that it is another clone of bitcoin with minor changes in features. However, when the currency went live, a completely unique and new currency was in front of people which supported smart contracts along with decentralized autonomous organization!
The aim was to attract more users and investors with this strategy. It was developed to be used in more areas than just for payments. Ethereum open platform which was launched with its strong scripting language. This powerful scripting language was used to form decentralized autonomous organizations, applications and smart contracts and much more. Ethereum works on a technology which is more robust and secured which will increase the opportunities for IoT applications.
Special features of ethereum:
Though ethereum is one of the digital currencies compared to bitcoins, it has some innovative and exciting features which increases its worth and value. It has a decentralised system for developing smart contracts, applications and organizations which can be used in future applications. The ethereum is more than just payments, trading and sharing. Ethereum has a well settled technological edge than any other coins.
Competing with the first and widely preferred bitcoins, ethereum has also emerged as one of the digital currencies with a high rise in market capitalisation. Within the half year of getting launched, ethereum has 1 million blocks mined by users. From 77 million coins, 72 million coins were already available and 60 million were sold even before the launch. Cost of 1 ethereum has increased a lot since its launch which was $8 and has become $459 now. Though, there can be confusion due to sudden high rise in the market capitalisation in future.
Number of coins:
The number of coins available for investment, purchase and trade is quite important to consider. When you consider the number of coins, this cryptocurrency has a supply of 92 million coins readily available for the users. This clearly allows more investment and attracts more number of users. The ethereum coins will stay untouched and inflationary with its users increasing day by day.
Safety is the primary concern for all the users when they invest in any project. This cryptocurrency has overtaken bitcoin in terms of safety features. Also, ethereum plans to adopt the Proof of Stake which will protect transactions from Sybil attacks, will verify the transactions and also check whether the nodes are real or fake.
Other notable points about ethereum:
- The transactions in ethereum occur at a speed of 15 seconds which is quite rapid and flexible
- It can promote currency called tokens which can be used as stocks and much more.
- Overtaking bitcoin in the race of security and safety, ethereum has become one of the most secure currencies which will ensure the realness of transactions
- In future, with the increasing use and application of the netwrok, the low transaction cost will be affordable. With more number of coin supply, more applications, it will not be tough for ethereum to operate on low transaction fees.
- With multiple applications, ethereum will be used in day to day life for online and offline transactions
Why should you choose ethereum?
- If you are looking for a digital currency which has a stable market share and capitalization, you can choose ethereum.
- If you are looking for a currency which is capable to launch and issue coins, it is one of the digital currencies with around 100 million coins.
- The cost of ethereum is comparatively lower than other options like bitcoin and thus, it is a better option if you are looking for low cost and high value coins
- For a currency which promotes privacy and speed it is very easy to gain more customers
- Also if you are looking for a currency which is growing in business and is getting established as a brand, this cryptocurrency has a long way to go. It has made its space in gaming, oil, energy, social network, banking etc.
Ethereum is a digital currency which is far more than just a currency used for payments and transactions. It has a scope in different businesses and areas. Also, it is moving towards being a safer and secure currency which makes it one of the best digital currencies to invest in.