Ethereum is one of the most valuable cryptocurrencies in the market. This cryptocurrency, is a big rival for bitcoin. After bitcoin, this cryptocurrency is the second largest by the market capitalization.
In the market, we show ethereum with the “ETH” sign. Beside so many financial benefits, people use this digital currency in different applications and for various usage. In this article, we will talk about all aspects of ethereum.
What is ethereum?
According to their official website, ethereum is a global, open-source platform for the decentralized applications. To use and take part in this platform, we only need a wallet. By having a wallet, we can do so many things on this platform. For example, we can write codes and serve them to others or we can use other people codes and applications. Also, on this platform, everybody can send and receive digital currency.
At now, there are already thousands of applications on this platform. Everybody can use them with no limitation.
These are some major features of this platform platform:
- Banking for everyone
- A more private internet
- A peer-to-peer network
- Make profit
In this way, everyone by having a wallet, can buy and send eth to anyone. In comparison with bitcoin and so many cryptocurrencies, the transaction fees for eth transfer are too low than the others.
That means, you can make a payment instantly with lower transaction fees. This advantage causes the increase of ethereum users and its platform population.
Similarly to bitcoin, this cryptocurrency uses a decentralized system for digital money transfers. In this structure, there is no bank and central supervisor to control the transactions, so the transaction process takes play between two end users. These end users are the sender and the receiver.
In the digital money transferring process, ethereum uses smart contracts. In this ecosystem, smart contracts make a payment process to be happen.
Where to use?
You can use ethereum in different cases.
- Write an open source application
- Develop codes
- Use other people codes
- Send and receive digital money
- Create a new cryptocurrency
To sum up, crypto experts see a brilliant future for the ethereum and they believe, one day this crypto will be the only leader of the crypto market.