Ethereum is one of the largest decentralized open source platforms. The open source platform provides infrastructure for developing decentralized applications. The smart contracts technology comes with advanced security features that can be applied in day to day life.
The next generation apps developed on the ethereum network (dApps) intend to boost performance of businesses around the World.
In addition to being used in executing employment contracts and securing purchase of high value items, ethereum is used in the gambling industry through helping in executing wagers and bets. The advanced features that come with ethereum has not only contributed to a spike in demand for ethereum but also pushed ethereum’s market capitalization to a record high market cap of over $350 billion.
Many people around the world wonder why ethereum has suddenly risen to fame despite being new in the world of crypto. Here is why!
Smart contracts
Ethereums software platform is touted as one of the most advanced by developers. Besides providing infrastructure for secure transactions, ethereums infrastructures are used by developers to develop dApps. These Apps have better and advanced features that can not be hacked.
A major milestone in the ethereum network is that it offers self-executing smart contracts that are able to verify, enforce and facilitate transactions on the blockchain network. Typically, the smart contracts are able to execute rules and enforce them like standard contracts.
While Bitcoin leads in offering secure payment solutions. Ethereum comes with advanced technology that provides infrastructure for developing many types of applications.
Through a distributed virtual machine and scripting language, smart contracts can be developed to carry out various functions without the need of using third parties. This is why ethereum continues to attract the attention of many investors around the world.
Monetary Value
Ethereum’s ether can be traded on various platforms to purchase goods and services. Infact the popularity of ethereum has more than doubled over the years. This is attributed to increased demand by developers and a sharp rise in the value of ether.so far,ether can be mined and traded for various cryptocurrencies.
Besides boosting mining computational power provided by the nodes on the open source platform, you can exchange ether for fiat currencies.
Fast transactions
Ethereum comes with an advanced network infrastructure that supports fast transactions. Compared to other open source platforms, ethereum transactions are instant. In that case if you are looking for a credible and fast mode of transaction, then ethereum network is an ideal choice for you.
Scalability
Ethereum comes with advanced infrastructure that has attracted investors and developers across the World.While ether has become a popular store of value, the ethereum network enables developers to develop advanced dApps with high security features compared to traditional apps.
Besides offering solutions for developing smart contracts, ethereums technological infrastructure comes with better features that can be improved to offer better technological solutions. Because of this it can also retrieve lost bitcoins.
Secure agreements
Disputes arising from disagreement on contract signing are rampant and at times result in expensive protracted court battles. This is the key solution that ethereum aims to solve.
With ethereum, parties can sign contracts from any part of the world without worrying about the agreement being doctored.
Just like escrow which scores in securing high transactions, the ethereum’s Virtual Machine (EVM) facilitates smart contracts such as coupon paying bonds or swaps. The technology has a potential to replace social, financial and legal agreements done between different parties.
Final Thoughts
Ethereum is not only a store of value but comes with advanced features that have impacted the technology world. As such, ethereum is not only a game changer in the world of crypto currency but it has revolutionized the technology sector. If you are looking for a perfect crypto investment option then ethereum may be an ideal choice for you.
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