- Ethereum white paper says Ethereum technology is in the field of creating smart contracts and developing applications (decentralized type) has gained wide popularity.
- The transition of Ethereum to protocol 2.0 increases the scalability of the blockchain, as well as improves other positions of the technology, including decentralization and the level of security.
- The technology is evolving, so you need to follow the news about Ethereum, especially if you are considering trading Ethereum or long-term investments in this asset.
Cryptocurrency market experts point out that Ethereum and Bitcoin are two different assets, although they are often compared (perhaps, since they are the largest and most well-known digital coins).
Bitcoin is a payment system that depends on the users themselves. The Bitcoin founder himself emphasized that the main advantage of the asset is its decentralization and the absence of any participants (stakeholders) with special powers that can influence the network.
Ethereum is also a payment system with a decentralized structure and a token of the same name. But at the same time, Ethereum is a technology for developing decentralized applications which can be clearly seen in Ethereum white paper.
Also Read : Jack Dorsey Says Bitcoin Will Replace USD
Ethereum technology has gained wide popularity in the field of creating smart contracts and developing applications (decentralized type), for example, the product is successfully used by large companies:
- Lufthansa (European aviation concern);
- Sberbank, etc.
Read more about the possibilities of the Ethereum cryptocurrency here , the site examines the main characteristics of the altcoin (what it is, who invented it, how to store it, etc.). You can also check the current ETH rate on the portal.
Ethereum White Paper Extracts
Ethereum is called one of the foundations of the blockchain industry. The developers managed to come up with a reliable technology with the help of which the business is already solving various problems. Ethereum blockchain is used to create a variety of projects, ranging from games to crypto exchanges and marketplaces.
The transition of Ethereum to protocol 2.0 increases the scalability of the blockchain, as well as improves other positions of the technology, including decentralization and the level of security.
Interest in Ethereum manifests itself at different levels, and not only in terms of technology for applications and smart contracts. For example, the bank BBVA Switzerland (Switzerland) was the first in Europe to offer its clients to invest in Ethereum. The division even opened a special service for trading this asset. In the application, you can convert altcoins to dollars or euros.
The cryptocurrency rate is constantly changing, and this is normal (this market is characterized by high volatility, which often makes it so interesting for traders). The technology is evolving, so you need to follow the news about Ethereum, especially if you are considering trading Ethereum or long-term investments in this asset.
Ethereum Vs Bitcoin
Ether (ETH), the cryptocurrency of the Ethereum network, is the second most popular digital token after bitcoin (BTC). As the second-largest cryptocurrency by market capitalization (market cap), comparisons between Ether and bitcoin are only natural.
Ether and bitcoin are similar in many ways: Each is a digital currency traded via online exchanges and stored in various types of cryptocurrency wallets. Both of these tokens are decentralized, meaning that they are not issued or regulated by a central bank or other authority. Both make use of the distributed ledger technology known as blockchain.
However, there are also many crucial distinctions between the two most popular cryptocurrencies by market cap. Below, we’ll take a closer look at the similarities and differences between bitcoin and ether.
- Bitcoin signaled the emergence of a radically new form of digital money that operates outside the control of any government or corporation.
- With time, people began to realize that one of the underlying innovations of bitcoin, the blockchain, could be utilized for other purposes.
- Ethereum proposed to utilize blockchain technology not only for maintaining a decentralized payment network but also for storing computer code that can be used to power tamper-proof decentralized financial contracts and applications.
- Ethereum applications and contracts are powered by ether, the Ethereum network’s currency.
- Ether was intended to complement rather than compete with bitcoin, but it has nonetheless emerged as a competitor on cryptocurrency exchanges.
Source : Investopedia