This cryptocurrency was conceptualized in 2013 and through online crowd sale, this virtual currency hit the markets in 2014, and was launched in 2015. During the year 2014, there was a presale of Ether and that saw a good response from the market. It utilizes Distributed Applications (DApps) and smart contracts to operate and maintain the system.
The applications on Ethereum are run on its platform-specific cryptographic token, Ether. Ether is like a “vehicle” for moving around on the Ethereum platform, and is sought mostly by developers looking to develop and run applications inside Ethereum. Ether is used broadly for two purposes: it is traded as a digital currency exchange like other cryptocurrencies and it is used inside Ethereum to run applications and even to monetize work. The current market capital of Ether (ETH) is now more than Ripple and Litecoin, although it is far behind Bitcoin (BTC).
According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” One of the big projects around Ethereum is Microsoft’s partnership with ConsenSys which offers “Ethereum Blockchain as a Service (EBaaS) on Microsoft Azure, so Enterprise clients and developers can have a single click cloud-based blockchain developer environment.” With Ethereum, different applications can be created and this is very helpful irrespective of the programming language. An Ethereum Virtual Machine (EVM) can run any program if it is supplied with sufficient memory and time. Making a Blockchain application can be very helpful through this way.
In 2016, Ethereum was split into two separate blockchains – Ethereum, and Ethereum. As of July 2018, Ethereum was the second largest virtual currency on the market, behind only Bitcoin. It is much faster to acquire Ether currency than Bitcoin (about 14 or 15 seconds to bit coin’s near-uniform 10 minutes) and there are far more ether units in circulation than there are bitcoin.
Pros of Ethereum:
- Applications are decentralized
- Data is immutable
- Safe and secure
- The system is tamper
- Superb uptime
- Most projects facilitate Ethereum
Cons of Ethereum
- Future is uncertain
- Technical error can be massive
The market projection of Ethereum has been great throughout the last few years, we have seen how cryptocurrencies have made their foray as a superb investment option. People like to invest in them due to the ease of buying, plethora of storing options, rapid increase in valuation rates and easy liquidity. Cryptocurrencies have provided people with options that were unthinkable until a few years back. Sitting in any part of the globe, a person can easily put in his money and buy the virtual currency and keep it secured as an investment as long as he desires! This has indeed come as a boon for people of many countries around the world.
However, since 2017 when the world saw many striking changes both in the geo-political as well as financial markets, the cryptocurrency space has also undergone metamorphosis. Just after its launch, Bitcoin used to rule the roost. This trend continued till a few years back. Not as though it has completely gone out of favor now. Yet, there are some others that have also picked up quite nicely during the period. Monero, Ethereum, Dash and Litecoin have also picked up nicely and at present, can give Bitcoin a run for its money. Due to these reasons, many investors would like to put in their hard-earned money into these lesser known cryptocurrencies. Their valuation can also reach an encouraging level for everyone to enjoy.
The science behind all cryptocurrencies is Blockchain Technology and Mining that is used by the founders of these virtual currencies. For a relatively newer cryptocurrency, its monetary value may not be much at the beginning. A person can either buy it from an exchange or get it mined. Depending on certain characteristics, the value can pick up within a very short time if it displays much promise related to accessibility, safety and liquidity.
Therefore, apart from Bitcoin, other cryptocurrencies have also performed well during the last few years but Ethereum has been promising and very close to Bitcoin. Due to this reason, there is ample opportunity now to invest in them and this guide can help you in making good wealth in Ethereum investment.