Etheruem is an open-source, blockchain-based operating system and cryptocurrency platform for distributed computing that uses smart contracts based scripting. It was launched in January of 2014 by a team of four headed by chief developer and founder Vitalik Buterin. Like all other cryptocurrencies, Ethereum is also decentralized and uses a proprietary transaction platform to process transactions.
ETHEREUM (ETH) PRICE PREDICTION 2018
Ethereum is a relatively newer player in the ground but it has gone up in value to be the second largest in terms of market cap and value. It was created to mitigate the need for a specific scripting language requirement that Bitcoin has. As with Litecoin, the creators are pretty vocal about the platform and it also has contributed to its increasing popularity. It makes use of a more general scripting language to facilitate application development. A cryptocurrency is an alternate method to paying by cash, credit cards, and checks. It uses technology that allows people to send and receive payments without having to involve any third parties.
Ethereum is the second largest cryptocurrency on the planet right now and it sees more than twice the number of transactions than Bitcoin. It is widely used for both personal and business transactions. It is the most searched alternate to Bitcoin out there. Ethereum is more than just an alternate payment method but is also a platform for running the code of any remote application. There are other fundamental differences that make Ethereum more favourable to users than Bitcoin. The present value of Ethereum stands at 596.15$. It has a market cap of $58,087,685,021 and there are around 97 million Ethereum coins out there in circulation.
FEATURES OF ETHEREUM
Ethereum offers several advantages over other cryptocurrencies.
Speed: Ethereum has a block time of around 14-15 seconds compared to roughly 10 minutes for Bitcoin.
Consistency: Ethereum churns out blocks at a fairly consistent rate but whereas in Bitcoin the rates halve every four years.
Cheap: The mean transaction fee is like 100 times lower than Bitcoin at .33$ and depends on the computational complexity and many other factors compared to Bitcoin.
Technology: It uses a hybrid mechanism of Proof-of-Work and Proof-of-Stake as opposed to Bitcoin’s UTXO system. It is also planning to change solely to Proof-of-Stake model.
As with all other cryptocurrencies, Ethereum is also kept and managed using wallets. While Ethereum is extremely popular there are only around 25 wallets to buy, spend and store Ether. There are a similar number of exchanges and casinos to trade Ethereum. The most popular online Ethereum wallet is Coinbase. Exodus is a famous desktop wallet and Ledger Nano is among the best hardware wallets for Ethereum.
HOW TO BUY ETHEREUM
Ethereum is harder than Bitcoin to buy. The best way to buy Ether is through traditional cryptocurrency exchanges like Gatehub and YoBit. The next best way is to use any of the wallets. The most popular ones are Exodus and Jaxx. For most users, Coinbase will be the easiest and better option.
Ethereum has grown rapidly in the last few years. It is growing at a good rate and has already half the market cap that Bitcoin has in half as many years. Ethereum is a very good currency to invest in at the moment.