Currencies > Ethereum (ETH)

Ethereum (ETH)

What is Ethereum?

Ethereum has earned the title of one of the most used cryptocurrencies in the world. ETH, the fuel coin of Ethereum network can be used not only for cryptocurrency transactions but for creating decentralized contracts and apps. The blockchain-based network Ethereum was created in 2014 by a Russian-Canadian programmer Vitalik Buterin. Since then Ethereum was developing as a platform to create decentralized applications – DApps are visible for anyone and not owned by any authority.

What are the advantages of Ethereum?

  • Limit. Unlike other popular cryptocurrencies, ETH has a limit of 18 million coins per year.

  • Corporate support. Ethereum is rich in loyal corporate followers. Different companies from various fields collaborate with Ethereum – possibly, there is no other network or cryptocurrency that is so successful in cooperation.

  • Roadmap. Ethereum is very good at planning – the platform has a clear vision of future development and plans its actions accordingly.

  • Transactional process. Ethereum works on Smart Contracts (a term that Ethereum founder Vitalik Buterin particularly dislikes). The sender and the receiver agree on certain terms, put them in as codes and execute a Smart Contract. When conditions are met, a transaction takes place.

How to store Ethereum?

ETH is usually stored in specially designed Ethereum wallets encrypted with a private key. There is a vast variety of Ethereum wallets on the market, so we advise the users to pay attention to the basic security rules when choosing a place to store ETH in.

How to buy Ethereum?

Besides Ethereum mining, ETH can be bought from all the leading cryptocurrency exchanges using both fiat and crypto. However, the process of buying Ethereum can be made more complicated with compulsory registration on some exchanges. You may always check the most relevant Bitcoin price on CoinMarketCap.

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