What is Ethereum
Ethereum is the cryptocurrency of its own platform, which follows blockchain technology similar to Bitcoin but for other functionalities. Ethereum was created by Vitalik Buterin in 2015 to serve as marketplace for financial services, smart contracts and games free from centralised authorisation and fraud. Ethereum has the second largest market cap in cryptocurrency as of July 2021. Similar to Bitcoin, Ethereum has seen its value rocket within a few years.
Main characteristics of Ethereum:
- It started operating in 2015 by Vitalik Buterin
- It is the second world’s largest cryptocurrency by market cap
- Ether is a cryptocurrency used for Ethereum platform, which is based on blockchain technology.
- Ethereum has wider application compared to Bitcoin. It is a platform to store all kind of information safely.
Ethereum is considerably safe investment due to its platform’s functionality and promising performance it has provided. Ethereum is undoubtedly one of the pioneers of crypto market; however, there is a criticism around the high price of the transaction fees, which is expected to be addressed by developers.
- Do your own research before investing in this coin
- Do not invest money in this market that you cannot afford to lose
- While less volatility has been experienced in strong coins like Ethereum, we still face major corrections every now and then.
Ethereum has been showing promising performance in the crypto market and has become the second largest cryptocurrency after Bitcoin. It is predicted that Ethereum will continue to grow as long as they update their system and decrease transaction fees.