Ethereum: What informations you should know about ETH

An eternal rival of the famous Bitcoin, the important place of the Ethereum cryptocurrency in the increasingly popular market of these types of currencies is no longer in doubt. But how do you explain this success?

If there’s one star when it comes to financial market cryptocurrencies, well, Ethereum can do just that. Its strong stock market capitalization and its decentralized applications make investment inevitable in this network. This is an extremely innovative blockchain.

Ethereum cryptocurrency features

The cryptocurrency Ethereum is Ether, which stands for ETH. With a unit value of 170 euros, its total volume available on the market is over 109 million. In other words, its market capitalization exceeds $ 19.6 billion.

This large amount makes it the second most important cryptocurrency on the market, immediately after Bitcoin.

Ethereum objectives and operation

Ethereum was originally an exchange protocol based on the concept of smart contracts. These contracts aim to secure and simplify any type of online transaction and are freely accessible on the Ethereum blockchain.

The operation of Ethereum is similar to that of a computer network that justifies the existence of a super computer. Ethereum is regulated by the blockchain. It is a technology that also allows the administration of payments. So we can say that all merchants need to adopt it as a payment method to buy goods or services.

Thus, the ETH protocol allows the realization of smart contracts. The peculiarity here is that all smart contracts are neither censored nor controlled by third parties. These programs aim to automate transactions.

And like other cryptocurrencies, Ether is used for either trading or portfolio storage.

History of Ethereum

On July 30 , 2015, Vitalik Buterin is the one who gives birth of the Ethereum blockchain . However _ these , he did not seek then to create a cryptocurrency . The first block of this blockchain is called “ the block genesis ”: establishes a premium token distribution , as follows :

60 million ETHs put up for sale

12 million ETH reserved DEV

One more year late in _ July 2016, the network was force to perform a hard fork, ie a split into the two separate blockchains : Ether on one side (with the symbol ETH ) and the spin- off or called Ether Classic ( whose symbol is ETC). This step was made after successful hacker attack _ _ on “The DAO ” SELF Decentralized ). This investment fund contained then over 3.6 million ETH tokens , which represents _ then over 5% of the total volume of Ethers in circulation . Due to the hard fork , the hijacking was countered , and the money was transferred by The DAO.

However _ these , this event may be prove existence CERTAIN security flaws _ into the network Ehtereum . For issues of reducing energy consumption _ _ electric and fluidity Serenity software that previously ran on Proof of Work ( PoW) into the English ) followed to passing in 2018 to the Serenity version (2019). The latter _ uses into the exchange Proof of Stake.

Ethereum is into the present one from the May old cryptocurrencies on the market . In fact , it was created Ethereum to solve _ Bitcoin deficiencies .

The founder published book white Ethereum in 2013, detailing contracts clever to allow _ application development _ Digital decentralized . In fact , Buterin intended to unify them . For he , unification how in which dapps working and interact was _ one way to support adoption . Thus was born Ethereum 1.

Ethereum blockchain explained

The blockchain is an updated public register regularly , which makes it possible avoiding fake transactions without having to to turn to a bank . Perceived as a storage technology , it constitutes an accounting book public and non- counterfeit . Keep history transactions conducted in Ethereum. It is validated exchanges through “Proof-of-Work ” to solve anything problems algorithmic .

The Ethereum blockchain user must to can check it out transactions into the wallet his . This working It is possible due to peer -to-peer network. In fact , more many computers register mood current blockchain _ and make it public into the around world .

All network nodes _ work together and ensure blockchain security . Free to have trust one into the the other , they produce a consensual algorithm . With others In other words , participatory nodes work according to the rules consensus mechanism _ to maintain _ network synchronized . In short , the blockchain is a database that provides a good traceability of the Ethereum platform .

It ‘s about about an ecosystem completely where every may be create and execute applications Digital decentralized or dapps , contract clever and even to HAVE THE REQUIRED some cryptocurrency . All It is accessible and readable by _ all the world . It is not so Easy to sons tricked here .

 Contracts smart explained

The Ethereum blockchain is quite similar to Bitcoin. Just like _ _ the Bitcoin blockchain , Ethereum Enable to see a record shared with all history transactions .

But, the main one the difference between Ethereum and Bitcoin are the contracts clever or Smart Contracts. It ‘s about about a computer mechanism that is used by contracts clever to suppress _ INTERMEDIATE and third people in an Ethereum blockchain . Also this _ _ technology Enable making contracts _ credible .

Must or not to invest in Ethereum?

What are its advantages ?

This pioneer in cryptocurrencies has more _ many strengths :

• A reputation strong and precocious then when it comes about the community sa .
• A community very large and proactive .
• Development opportunities _ extremely vast . _
• The May Hi reputation of Vitalik Buterin, the founder his .
• brand image Recognized next to great names of the economy and finance – Axis , Commonwealth Bank of Australia, etc.

It is also a currency very easy to buy and some companies like PayPal and branch his Venmo accepts buying crypto currency directly in _ application .

So we could say that Ethereum is an extremely interesting crypto project, even very seductive in the business world. It is arguably the second most promising cryptocurrency on the financial market. It is very important in the short term, so you need to take full advantage of it.