Did anybody think 20 years ago that we would live in an era, where even money is digitized? Technology is changing, and even if you consider yourself as a technophobe, you can not just pass by new tech products. Companies and customers don’t like cash anymore. So by the side of digital register paying methods, a new money system such as cryptocurrency is coming with all its strength.
Probably everyone has heard the name “Bitcoin”. It was the first cryptocurrency. It became so viral and contagious that everybody was talking about it. But every hero needs a competitor… So here ETH(Ethereum) comes to help.
Ethereum is considered to be the second most popular cryptocurrency after bitcoin. Of course there is Litecoin too, (which was already compared) but unlike Bitcoin and other virtual systems, Ethereum is intended to be much more than simply a medium of exchange or a store of value. Instead, Ethereum calls itself a decentralized network built on blockchain technology. So-yes, like other tech products, Ethereum works on the basis of blockchain too, where all transactions are verified and recorded. And while ETH is smaller in terms of market capitalization, many believe it has much more potential and an infinite number of use cases.
Who created Ethereum
The second most popular cryptocurrency was created by a Canadian programmer of Russian origin Vitalik Buterin. He learned about cryptocurrencies and blockchain about two years after the launch of Bitcoin. Buterin brought in several other specialists as co-founders of his own currency, and in the summer of 2014, the first ETH token sale took place. As a result, about
$18 million was raised. In his own words, Ethereum has $10.000 on the horizon. Still not convinced? Watch on live stream, or use youtube to MP3 converter and listen whenever you want, because he says Ethereum is going to PUMP for the next 30 days!
How to Invest in Ethereum
Ethereum is listed on all major exchanges as it is the second-largest cryptocurrency in the world. As with Bitcoin, it can be used to pay for goods and services in some countries.
The blockchain of ether has acquired a special role in decentralized finance (Defi). It is considered the main blockchain for applications in this area. However, there are constantly emerging projects that want to occupy their niche in Defi. For example, the Polkadot platform, which has already been nicknamed the "ether killer".
Why is Ether Growing
The blockchain continues to be updated. Updates are regularly released, which will eventually be made from Ethereum - Ethereum 2.0. Then the technology should become more secure and switch to a new work algorithm - proof-of-stake instead of proof-of-work.
Some point to the potential for ETH to grow over BTC due to the relative newness of the blockchain. If bitcoin is more than 10 years old, then ether is only five.
Forkast provides a forecast of 35 financial experts at once for the future of ETH. Almost 60% of analysts believe that ether should be bought. Experts, in their forecast for the Ethereum exchange rate, believe that Ether will end the year at $ 4.5 thousand per token. At the same time, by 2025, the cost of ETH will reach five-digit numbers. Analysts surveyed agreed that in four years ETH will cost about $ 19.8 thousand.
Mike Novogratz, a well-known crypto investor and founder of the investment company Galaxy Digital, believes that ether has a lot of room for growth:
“It is dangerous to forecast the maximum cost. But can it grow to $5 thousand? Of course, it can. "
We hope we succeeded in explaining what Ethereum is in simple terms or maybe even you would like to get one?