Simply put it that ethereum is a public blockchain platform like bitcoin which comes with programmable transaction functionality. It also provides a decentralized online machine that can carry out peer-to-peer contracts using what we call Ether, a crypto asset.
Some ICO investors see Ethereum as potentially overtaking Bitcoin as its price goes high in the coin market.
What makes Ethereum different from other cryptocurrencies?
What makes Ethereum different from other cryptocurrency is its technology. Ethereum’s coin value is referred to as “Ether,” and just like Bitcoin, it is bought, sold and used by those that invest into ICO opportunities.
Ethereum also allows faster transactions, its block time is set to twelve seconds, and it does this successfully using the ghost protocol.
Ethereum uses a different method for transaction charges depends on its bandwidth use, storage needs and computational complexity, this function can be called “Gas” in Ethereum and it is limited per block
Ethereum allows decentralized mining by individuals using their GPU’s and also uses Ethash, a memory hard hashing algorithm that abate against the use of ASICS
Why invest in Ethereum
Ethereum provides platform for every field application that runs on blockchain which is why it is said to be the backbone of the crypto world. The only drawback it has is having an unlimited supply, so it would always have sufficient supply for the demand yet its utility is exceptional and it would continue to rise in future. Here are few reasons why you should make future investment with Ethereum;
With prices going higher, ethereum is said to have build up on organic growth, without incessant large spikes, and it seems to be stable and if possible even predictable. Ethereum blockchain remains in demand despite the cyber attacks and history of hard forking. Ether (ETH) remains relatively stable irrespective of its price. ETH took advantage of destabilization, providing a low-cost alternative.
When there’s increase in demand and value of a particular cryptocurrency, it serve as an indicator that cryptocurrency is volatile and potential, More people are investing in Ethereum now because it’s quite clear that Ethereum has a future potential. One this to note is this, as it increases in demand, there also going to further increase in Ethereum price.
Ethereum works with smart contracts which run on the blockchain. With a “Turing complete” coding system, hypothetically you can put any logic into a smart ethereum contract, and it will be run through the whole network. There are mechanisms in place to prevent the misuse of the smart contract, and you also need to pass in “ETH” tokens by paying for it, which act as payment for the ethereum miners who would run your code.
How and where to buy Ethereum
The best place to buy ether is at coinbase.com. With coinbase you get an option to buy bitcoin, ethereum and litecoin at best rates and also lower charging fees. Coinbase is located in San Francisco and allows users to buy bitcoins with GBP, USD, and Euros. Coinbase has been an established Bitcoin exchange since 2012. The platform is convenient to access and use, adapts to industry positions and advances. Coin base has a simple and appealing user interface that enables buying and selling of bitcoin as well as Ethereum. With over 20 million users became one of the most secure exchange sites. You can buy ethereum using your credit card.
In conclusion, there is heavy support for Ethereum’s technology by giant investors in the cryptocurrency world and they are called The Enterprise Ethereum Alliance. This is a super-group of over 500 companies that have all conceded to work together to learn and build on Ethereum’s blockchain technology. It will be a smart move to invest in ethereum as its future is very much predictable at this moment