What is Ethereum

Ethereum is a blockchain-based decentralized platform that runs smart contracts. Ethereum can be used to codify, decentralize, secure and trade just about anything: voting rights, domain names, financial exchanges. Ethereum also provides a user-friendly interface for creating new cryptocurrencies or other types of contractual agreements with fair terms.

Etherium has been called “the world computer”. It’s like the internet except it uses this technology called Ethereum Virtual Machine (EVM) which executes scripts using an international network of public nodes instead of one central server. Ethereum is the next-generation infrastructure for the information economy and beyond!

what is etherum?

Pros and Cons with Ethereum

Pros: Ethereum is a distributed computing platform that makes it possible for any developer to create and publish next-generation decentralized applications.

Cons: Ethereum, at the time of writing, may be facing scalability issues with one second blocks.

Using Ethereum in daily life

A simple Ethereum transaction doesn’t require anything more than picking the right wallet, buying some ether and knowing whom to send it to. However, Ethereum allows for smart contracts which are computer programs capable of automatically executing agreements when certain conditions are met. The Ethereum blockchain is not only a platform where you can securely store money without having to trust any third party

Where to trade Ethereum

Ethereum is traded on almost all major cryptocurrency exchanges. Ethereum can be bought using Bitcoin, U.S dollars or even through your credit card. Ethereum also has an Ethereum wallet that lets you store and manage ether and other Ethereum-based tokens. Ethereum’s official wallet is called “Mist”.

The price of Ethereum

The price of Ethereum (ETH) is about $3700 (08/11/2021) at the time of writing. Ethereum has a lot of potential to grow in value, which makes it an attractive cryptocurrency to invest in. Ethereum is based on blockchain technology, which means Ethereum is more than likely to be one of the first investments you should make if you’re new to investing in cryptocurrencies. Ethereum is going up in value so you should try and buy Ethereum while the price is low.

Summary and last words

In this article, we have learned Ethereum is a blockchain-based decentralized platform that runs smart contracts. Ethereum can be used to codify, decentralize, secure and trade just about anything: voting rights, domain names, financial exchanges. Ethereum also provides a user-friendly interface for creating new cryptocurrencies or other types of contractual agreements with fair terms.

 

Comments are closed.