Back to top

All about Ethereum ETH cryptocurrency

Technically, Ethereum represents cryptocurrency and decentralized functional environment at the same time. In summer 2015, the platform for creating and implementing start-ups based on the blockchain and Smart contract was launched. The system needed an internal currency, and ETH became the one.

Ethereum was conceived as an improved version of Bitcoin. But with the development of cryptocurrency, the differences between the digital money became more prominent. ETH showed that blockchain can be flexible, convenient, and therefore, universal. It expanded its possibilities, opened new horizons for development. Many experts believe that the appearance of Ethereum is a revolution in the world of high technologies.

Ethereum features

Smart contract is the basis of Ethereum. With the help of a computer algorithm, the contract is implemented to blockchain. Smart contracts are built in such a way that the transaction is made only if the parties have fulfilled all necessary conditions. The conditions are described mathematically and programmatically, which guarantees their reliability.

All transactions are controlled by your computer. This allows you to exclude the possibility of an error or malice. The platform programming language is similar to JavaScript. The program makes a money transfer after receiving a confirmation of the fulfillment of the conditions described. You can track the transaction online.

Ethereum does not have a boundary emission ceiling, which inevitably leads to depreciation. Nowadays the developers are thinking about switching to the Proof-of-Stake algorithm. It is easy to buy or exchange the Ethereum cryptocurrency for other coins.

The peculiarity of pricing on Ethereum is the direct dependence of quotations on the success of projects of the platform bearing the same name. The time spent for generation of one block is 15 seconds, and 5 ETH are issued for finding the block.

Compared to Bitcoin, Ethereum is not so convenient as a means of payment. Not all services work with it. Nevertheless, ETH ranks second in terms of capitalization level, which allows it to win places in the market.

1 Star2 Stars3 Stars4 Stars5 Stars (No ratings yet)