Here’s the Walk Through on Ethereum (ETH) You Need
Ethereum (ETH) is best known in the crypto space for one major thing; rivaling the dominance of Bitcoin. Ethereum is the second largest cryptocurrency by market capitalization (87.8 billion USD), and most of hype it gets come from the interesting additional features and applications the network offers.
What is Ethereum (ETH)?
For a beginner, Ethereum is an open source platform based on blockchain technology featuring smart contracts that enables developers to build and utilize other decentralized applications. Ethereum generates and deploys its digital currency the Ether for transactions on the platform.
Smart Contracts; What Sets Ethereum (ETH) Apart.
Smart contracts are digital self-executing protocols the ethereum uses for transactions. Once the terms of agreement are reached by the both parties involved in a transaction, the system aids all the processes in executing the contract.
Smart contracts have been drawing the attention of enterprises, and here’s why;
Smart contracts bypasses third parties in transactions, free clients from their exuberant charges and bottlenecks.
Smart contracts are digitally generated and executed which means there is little or no chance of manipulation, frauds, and human errors.
Blockchain make the smart contracts more secure.
The Ethereum Virtual Machine (EVM) and Decentralized Applications (Dapps)
Another unique feature Ethereum offers is the EVM. The EVM is a tuning computer software allows programmers and non-programmers alike to create programs irrespective of the programming language. The Ethereum (ETH) Virtual Machine is a decentralized computing platform.
The Ether is also required by developers who want to build apps with the EVM. As at the time of this writing, it is recorded that 1,038 decentralized applications have been built on Ethereum using the Ethereum Virtual Machine. Some of the headlining Dapps are; GOLEM, uPort, SingularDTV, and Stock.it.
The Ethereum Enterprise Alliance (EEA).
The EEA is a mega co-operation of companies working with the to develop real life usage of the Ethereum and the EVM. Big names like; intel, Microsoft, J.P Morgan, BBVA, brainbot tech. and a bunch of others are included in this project.
Price and How to Buy the Ether.
The price of Ethereum (ETH) has grown tremendously over the years, starting the year over $1,000 trading value until the backdrop inspired by the huge Asian sell off. As at the time of this writing, the Ether is trading at $889 apiece. Ether is a minable digital coin.
Ethereum is not just the cryptocurrency of the future on paper, in reality, Ethereum is already developing on that. The Ethereum Enterprise Alliance and the strides they are taking every day is also another interesting reason the future will be very bright for Ethereun.