Hello Steemians,
In the world of cryptocurrency, if Bitcoin is the king, then Ethereum is the queen.
The price of Ethereum (ETH) has risen significantly in the past few months, and it’s one of the most promising cryptocurrencies right now. In this post, I will would be disscussings the reasons why Ethereum is my favorite cryptocurrency.
Based on the official Ethereum project website which states:
“Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship, or third-party interference.”
But what’s special about that? All software runs as it was programmed to do so…
Well, the code written on the Ethereum blockchain can’t be altered, tempered, or hacked. This tamper-proof feature ensured by cryptography makes it an interesting application of the blockchain technology.
Ethereum is not just a blockchain; it’s a decentralized programmable blockchain-based software platform. In a way, you can say that its married to its cryptocurrency asset (called Ether – ETH) which runs the Ethereum network.
Ethereum allows you to build and execute smart contracts and Distributed Autonomous Applications (DApps), without censorship, downtime, or any third party.
The inbuilt programming language Solidity is used to write smart contracts and DApps. After that, the cryptocurrency asset (Ether) helps in executing these apps and contracts.
This is why Ethereum is my favorite.
Ethereum was created by a Russian programmer Vitalik Buterin in late 2013. Vitalik formally announced Ethereum in January 2014 at The North American Bitcoin Conference in Miami, USA.
The ideas of Ethereum came in place when some lapses was discovered in bitcoin.
The idea of Ethereum is simply not another cryptocurrency.
Rather it is an effort to code, run, and execute smart contracts and DApps independently without human interaction.
With the joining of Dr. Gavin Wood as co-founder, in July 2014 the Ethereum Foundation bootstrapped the development of Ethereum software and raised $18 million in presale of Ether tokens.
Vitalik Buterin (CEO) – Through Bitcoin in 2011, Vitalik discovered cryptocurrencies and blockchain technologies. He founded Bitcoin Magzine in 2012 out of this curiosity to understand Bitcoin. After getting the Theil Fellowship in 2014, he dropped out of the University of Waterloo to work on Ethereum full-time. Vitalik understood what blockchain technology had to offer for the future, and in 2013, he invented Ethereum. Gavin Wood (CTO) – In 2014, Gavin met Vitalik through a mutual friend and got to know about Ethereum. He invented the smart contract language called Solidity. He also wrote the first yellow paper on the Ethereum blockchain for the Ethereum Virtual Machine (EVM).
Jeffery Wilcke – Since its inception, Jeffery has been looking after the implementation of the Go programming language on Ethereum.
Ming Chan – Ming serves as the executive director of Ethereum and looks out for regulatory and legal matters of the Ethereum blockchain.
Ethereum has currently $20 billion as its market cap. This is 1/3 of the market cap of Bitcoin, yet it is still a worthy cryptocurrency having. As at 29 November, 2020 the present value of one Ether (ETH) coin is $554.87 USD this has increased drastically since global pandemic started. The question still remains whether or not Ethereum will be a popular platform powered by its ETH coins.
Hardware Wallets – Trezor, Ledger Nano S Mobile Wallets – Jaxx (iOS, Android), Ethereum Wallet (iOS) Desktop Wallets – Jaxx (Windows, Mac OS, Linux), Coinbase Web wallets: CoinPayments Paper Wallets – MyEtherWallet, EthAddress Here are dedicated articles for Ethereum Wallet: 10 Best Ethereum [ETH] Wallets To Use In 2019
Roqqu Luno Coinbase Poloniex Binance: Supported pairs are ETH/BTC Bitfinex: Supported pairs are ETH/BTC KuCoin: Supported pairs are ETH/BTC
The future of Ethereum is not only bright as a digital currency, but also as a platform to run smart contracts and DApps.
It is accelerating the migration from a centralized economy to a decentralized, borderless, and permissionless global economy.
Decentralized applications would positively disrupt and change industries such as finance, entertainment, real estate, academia, insurance, healthcare, the public sector, and social media.
Just as the inventors of the internet had no idea that in a couple of decades social media and cloud computing applications would emerge, we don’t have any clue what sort of applications will eventually emerge out of the Ethereum blockchain.
After the DAO hack, the future looks promising for Ethereum. In terms of volume, Ethereum has already become the most traded cryptocurrency of 2017.
I strongly believe that, the prices of Ethereum will probably rise.
Until that time, stay connected and keep learning about the cryptocurrency revolution. It has change my life i made a little investment on it while it was still cheaper and today i am enjoying the benefit.
Thanks for this opportunity.