The most common question that is been asked by newbies coming into the cryptocurrency industry is that, is Ethereum the future of cryptocurrency? Me while, they never knew that Ethereum is the second largest cryptocurrency by market capitalization after Bitcoin. However, both Bitcoin and Ethereum are built based on different purposes and comprises of different features that separate the both as well. In this article, we will be looking at: the origin of Ethereum, what is Ethereum, the features that is built on, how to invest on Ether and lastly the future of Ethereum.
Origin Of Ethereum
In 2013, a Canadian programmer called Vitalik Buterin published the whitepaper of Ethereum. On the whitepaper, he emphasized on smart contracts which was used to built Dapps (Decentralized application). However, there was already appearance of Dapps in the industry before Vitalik was making emphases about it. His mission was to bring unity between those projects in the blockchain industry to similitude them that is when Dapps already existed. This was how Ethereum version 1.0 was brought into existence.
Although, Ethereum was not built by Vitalik alone. Other developers such as, Gavin Wood, Jeffrey Wilcke, Hoskinson Charles and others are his co-developers of Ethereum.
What Is Ethereum?
Ethereum is a decentralized blockchain technology which was programmed using smart contracts giving it a chance to allow other crypto projects to be built on it. Ethereum has its own native token called Ether. With Ether coin you will be able to play Ethereum blockchain games, create and own crypto art work (Non-Fungible Token) and you will be able to earn profits via staking and so much more to be mention.
Also, Ether is used for most financial activities in the Ethereum blockchain as gas fee in the Ethereum network. That’s before you carryout any financial activity on the Ethereum network, you pay Ether as a fee the major difference between Ethereum and Bitcoin. While Ethereum is used for most financial services and the adoption of smart contract, Bitcoin on the other hand is used for payments.
The Potential Features Of Ethereum
Ethereum Virtual Machine: With this property of Ethereum, a copy of computer hold a node which enable them to be sure of every interaction that occur within the computer. Such example of these of this interaction is programming. Ethereum is the only decentralize system that runs this system.
Smart Contract: with the help of smart contracts, developers are able to creating tokens on the Ethereum blockchain, decentralized applications mostly on web3.0. This innovation was brought into the crypto industry by the Ethereum blockchain.
Decentralized Applications (Dapps): the introduction of web3.0 projects, decentralized finance, some gaming projects and NFTs are all birthed by Dapps which is one of the important property of Ethereum. With the advancement of blockchain technology and massive adoption of Ethereum, the future will be all about decentralization.
Ethereum blockchain allows lending and borrowing services through their native token Ether.
Ethereum have strong investors and community.
How To Invest/Buy Ether
A crypto wallet containing Ether and other cryptocurrencies
The most arising question from newbie is how to invest on Ether when they see it as the second valuable asset as most people always said that they can’t afford to buy or invest on Bitcoin because of its expensiveness or it large market capitalization. Today Ethereum is selling for over $1800 with a total market capitalization of over $223 billion.
The fact is that one can not buy Ether from the bank or from any forex bureau. The only place to buy or invest on Ethereum is on cryptocurrency platforms such as: Binance, Kucoin etc.
Those crypto exchanges ranges from complex ones to simple ones. There are some things that varies across those exchanges such as the price of Ether is different between those exchanges, their security measures and the medium of their verifications.
On investing or buying Ether, all you need to do is to fund your crypto exchange account and buy it on any of your desired exchange (examples was giving above), the leave it stored on your crypto wallet. As price of the assist increases, your investment also increases in value. This is the easiest method used on investing or buying Ether.
The Future Of Ethereum
Ethereum has a complicated technology that it is built on. With this technology, Ethereum has a higher chance to compete with a higher crypto project in the future giving it more room for the increasement of its market capitalization especially the possession of smart contract that is built on.
Much attention and popularity has been drew to Ethereum lately because of the recent upgrade that was done on the network. This activity attracts more users, investors and developers to the Ethereum blockchain.
Summary
Ethereum is a blockchain network that was built using smart contracts giving it a peculiar feature from Bitcoin which in the other hand is used for solely payments. The Ethereum network has it own native token called Ether. Ethereum was developed by a young Canadian developer called VItalik Buterin in 2013, in company with other co-developers which includes: Gavin Wood, Jeffrey Wilcke etc. inventing or buying Ethereum, it requires you to buy it from a crypto platforms using Binance, Kucoin etc. Ethereum possesses EVM (Ethereum virtual machine), decentralized applications, smart contracts and so on.
