Cryptocurrency craze is not going to stop. It gains momentum revealing new electronic money to this world at least once a month. However, its leaders never change. For years Bitcoin and Ethereum obtain TOP-1 and TOP-2 places when it comes to popularity. They are considered to be the most reliable currencies when it comes to e-money. Although we may say that we know everything about Bitcoin, Etherum is still a dark horse for many of us. What is it and why analytics say it might beat its main rival soon?
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First Ethereum concept saw this world back in 2013. It was previously described as a next-generation platform. Some kind of Bitcoin 2.0. Its developers were sure Bitcoin needed an upgrade: a scripting language for application development. They had an aim of launching a product that would guarantee safe business deals with the third person which would be absolutely safe for all sides.
Dragging investors into it was nearly impossible, so there was only one wise decision – crowdfunding. Selling tokens, Etherum collected 31 191 BTC. Which was a ton а money – over 18 million dollars). And soon banks turned their faces instead of backs to Etherum, noting that this was some best platform for smart contracting. Although, that was just the beginning.
This platform was launched in 2015 but it is fully functioning since March 2016 when protocol Homestead has been released. Banks and some other financial institutions gladly joined crowds of Ethereum fans. The whole world wanted to know what it actually was, and only now we can give an answer to this question:
Etherum is a public, open-sourced, blockchain-based distributed computing platform and OS which is functioning on the basis of smart contracts. There are 3 basic elements of the trial:
- interacting parties (signatories);
- a subject of the agreement;
- conditions for execution.
Blockchain technology is called to protect them all. Any operation within the platform cannot be canceled; any change cannot be restored back. All sides of the contract receive a complete report on the current situation on request.
The only question left without any answer is: what does it have to do with e-money? Etherum is one of the most reliable cryptocurrencies. It has all same options as:
Basically, it is one of the most reliable storing fund method and one of the best options for profitable investments. This currency is well-protected and the only reason for Bitcoin topping the list of that most popular money on this planet is ‘age’, as B-cash was invented much earlier.
Although, as Bitcoin rates are slowly going down, Ethereum is strengthening its position and is about to become a leader of crypto money hierarchy. Experts say this won’t take longer than 2 years. So, if you have a plan to start investing and you have already chosen e-cash – some people prefer dividing funds between several currencies, but professionals are sure we should go for Ethereum. As it is in favorites all around the globe right now.