Ethereum is a form of currency that has grown in popularity and quickly become one of the leading contenders to bitcoin. Over the last few months this particular alternative crypto currency has continued to gain popularity because of its decentralized platform and the applications that it runs without any opportunity for third-party interference or fraud. The code written on the blockchain cannot be hacked or tampered with all. This tamperproof feature makes this particular blockchain technology one of the most interesting on the market today. Moreover, this is not just a blockchain. It is also a decentralized blockchain-based software platform so it is one of the best crypto currency assets that people are considering today. With it you can build and execute smart contracts without any downtime or any third-party interference. The programming language is easy to use and it is for this reason that people have referred to this particular alternative as programmable money.
History of Ethereum
This alternative crypto currency was created in the year 2013 by a Russian programmer. It was announced to the public formally at the beginning of 2014. This particular option was made to do things that bitcoin simply could not do. The idea is that it is not just a crypto currency but rather it is a way for people to code, run, and execute different smart contracts independently, without ever having to worry about human interaction. The presale of their tokens raised $18 million alone.
The team is comprised of the Russian designer who founded bitcoin magazine back in the year 2012 something to better understand how bitcoin worked. He dropped out of school to work on this particular project full-time and invented it the following year. The other members involved have helped with the implementation of the programming language and the regulatory and legal concerns.
This is a network based on different blockchain technology and the crypto currency within it, referred to as Ether, is what helps run the platform. Right now presale amounts generated approximately 18 million units per year. This blockchain is continually kept secure but is limited to 18 million units every year. Every 13 seconds a new block is mined and from that five units are given to the computer responsible for mining it. Currently this alternative currency has reached $10 billion at the market. That is one third of the total work for bitcoin. That is presently the value per coin is $126 which is increased 10 times since the beginning of 2017.
Hardware wallets are inexpensive and they store your money offline on a physical device. Whenever you want to spend your money you sign in using the private key that you store on your physical device. These are small and they allow in complete control over your transactions. Even if your computer is hacked, the security on the individual devices is so strong that it will impact your money. Desktop wallets like Exodus, are multi-crypto currency wallets free to use and simple to use. When you open that you will find things like pie charts that give you a clear picture of your portfolio.
These desktop wallets, especially Exodus, come with exchange platforms built into them, such as Shape Shift, so that you can easily connect to the Internet and exchange your points. In order to use it you have to be connected to the Internet but your private keys never physically leave your machine. If something happens to your computer there are options for one click email recovery. If you prefer to use your mobile device there are mobile wallets that support for crypto currencies including this one. Your private keys never leave the device and you don’t have to register personal information to use them. What’s more, mobile wallets are available for many supported platforms.
Then there are web-based wallets. Web-based wallets let you control your private key on your physical machine. These are open-source wallets with no use of any third-party servers and inside of that you can write for access smart contracts your self. Some even have built-in facilities that let you exchange different coin. Coin base is one such wallet. To use it you have to make sure they serve your country. If they do you can get your public address after you register and then transferring or alternative crypto currency to your public address and leave your money stored on the biggest drawback to this particular wallet is that the private keys are not inside of your control and are instead stored on be hosted servers.
How to Invest in Ethereum
You can invest in this crypto currency by products or services online in exchange for crypto currency payments. This one is less of a speculative investment and simply more of a way to make legitimate money. Making money as a website developer, writer, social media marketing experts, business advisor, or anything else means that you can take payment in the form of this currency just as easily as you would take payment in another currency. There are many online cart platforms that have a plugin which accepts not only be on currency like US dollars or euros but also alternative crypto currencies or pinpoint. In some cases you can get paid directly by providing your public address to your wallet so that people can pay for your services online.