• Cryptocurrency

Ethereum, more than Cryptocurrency

Ethereum (ETH) can be used as a virtual money currency. It is not only limited as a cryptocurrency, but it also has the functionality featuring smart contracts which means it is much more than a cryptocurrency. The smart contract contains different functions and can interact with other contracts. These contracts store data and can send ether token to others; it is also able to prevent fraud.

Ethereum also has many dApps (decentralized applications). It is now one of the most interesting application used blockchain technology in the world. Ethereum is like Bitcoin and both use the blockchain to record and verify transactions. It uses the internet and blockchain to keep it unhackable.

The Ethereum code can be written by anyone on the network. It is easy to execute. Ethereum automatically to do things like creating websites, store a will, use for crowdfunding, sell goods or services, and more. This code can be viewed with the ether public key in the Ethereum Blockchain Explorer and Search. You will find the code on the Etherscan website address (https://etherscan.io/). This website is a search engine that allows users to look up, confirm and validate transactions that have taken place on the Ethereum platform.

The Ethereum digital currencies today are one of the best currencies to invest in. Many companies adopted the ICO (Initial Coin Offering) as an investment. After Bitcoin, it is to a very large extent the most accepted cryptocurrency so far. The Ethereum currency is more secure and transparent than other cryptocurrencies.

Ethereum is not a wallet service provider, it only stores private keys. Ethereum has no control over the transactions on the Ethereum network. Ethereum uses a light wallet, it is a smart contract wallet and can be accessed in the internet browser and is called MEW. In this wallet, you can send and receive ether tokens and Ethereum Classic. This wallet is a decentralized gateway application on the blockchain. It holds and secure ether and other crypto-assets built on Ethereum. This wallet also deploys and makes use of smart contracts on the network. Some of the best wallets are Trezor and Metamask. You can install MetaMask on your chrome browser as an extension. These wallets are available on IOS and Android.

 

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