Cryptocurrency Ethereum (ETH)
The sensational cryptocurrency Ethereum (ETH), which belongs to the second generation and has managed to gain incredible popularity among investors and miners, was officially launched in 2015, and the concept of the project was developed in 2013 -programmer Vitaly Buterin. Funds for the creation and development of the startup were obtained through fundraising from investors.
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Official website - ethereum.org
Description of Ethereum (ETH)
The Ethereum project, based on decentralized blockchain technology, is an open a virtual platform for application developers and affiliated projects from all over the world. The founders of the system tried to create the most efficient and convenient blockchain for conducting transactions with funds. Ethereum exchange units are called ETH. Their production is limited to 18 million coins
per year.
According to Vitaly Buterin, “Bitcoin is simply a digital currency, and our platform is a common decentralized world computer, the use of which is much wider. Ethereum also has a cryptocurrency, but we don’t focus on it. The goal of the project is to do what Bitcoin does not do.
Ethereum executes program code, accepting and processing transactions from any person in the world, and does it according to clear rules, with guaranteed results. Even those people who do not trust each other can interact reliably with the help of this platform. The idea came to my mind in 2013, when it became clear that blockchain technology could be used not only in cryptocurrencies.
Then there were many niche blockchain projects, and I decided to make one common one, uniting a platform on which it will be possible to use this technology in any area. This could be working with money - financial contracts, insurance, crowdfunding, all types of investments. The only condition is that all operations can be described as mathematical rules. With this basic idea, Ethereum began....”
The main idea of Ethereum (ETH) is to develop a blockchain that allows you to create any smart contracts that can implement one or another scenario (depending on external conditions) without involving lawyers. In the near future, there are plans to create decentralized courts and a solar energy exchange network based on Ethereum. And today, network resources can be used not only when making payments with other people, but also when creating social and gambling networks, contracts, agreements, etc.
In 2016, the code of this cryptocurrency was replaced because the The Dao and its investors suffered huge losses. As a result of the hardford, Ethereum was divided into two parts:
- Ethereum (ETH);
- Ethereum Classic (ETC).
This is not may not have affected the value of the coin. It dropped significantly, and investors ignored Ethereum tokens for a long time. But today ETH and ETC are showing rapid growth. A review of the Ethereum (ETH) cryptocurrency shows that interest in it has awakened. The list of the project's largest investors includes Microsoft, Acronis, IBM, Sberbank, etc.
Advantages of Ethereum (ETH)
Ethereum (ETH) has unlimited emission and faster confirmation of transactions than at bitcoin. Also, among the main advantages of the system, its founder highlights the following:
- Cheapness. Many projects on Ethereum can be done without significant investments. A centralized IT infrastructure is not needed to support services;
- No intermediaries. People can interact with each other in a trusted environment. There is no need for an intermediary to control everything;
- High level of trust. This is the most important advantage for users. A high level of security and trust between participants is ensured, in particular, by “smart contracts.”
Where to buy Ethereum (ETH) cryptocurrency
Today there are several ways to buy cryptocurrency ETH.
Firstly, Ethereum tokens can be purchased on popular exchanges Binance, KuCoin, Exmo.me, etc. They are reliable and safe. And the rate here is always more favorable than at exchange offices.
Secondly, you can use Ethereum cloud mining by purchasing a contract for 1-3 years from specialized data centers with farms for mining coins.
Thirdly, you can purchase tokens through cryptocurrency exchangers. They work in a similar way to regular exchange offices. A certain percentage is charged for the operation.
Where to store Ethereum (ETH) cryptocurrency
To safely store ETH coins, you need to choose a suitable Ethereum wallet. And there are several options here:
- web wallets;
- desktop wallets;
- hardware wallets;
- paper wallets.< /li>
The most convenient and reliable way to store and protect cryptocurrency is the Ethereum Wallet. You can also temporarily store Ethereum (ETH) on the exchange. However, the reliability in this case is much lower than that of software wallets.
Conclusion
In the first months of trading, the price of the coin did not exceed $0.3-0.5. Today everything has changed dramatically. In 2016, Ethereum grew more than 20 times. And this is not the limit!
The growth of the token continues at a rapid pace. At the beginning of February 2018, the average cost of one ETH token was $900. One thing is certain: the prospects for the Ethereum (ETH) cryptocurrency are enormous.
