First of all, you need to sign up for an Bitdenex account. Your Bitdenex account is a secure place to store your Bitcoins. Unfortunately, you can’t exchange your local currency into bitcoin without registered account. Based on the current laws and regulations, you must have a registered account to be able to trade cryptocurrency.
The KYC and AML policy does not allow to trade anonymously. That’s the main reason why you have to sign up for an account, unless you only want to try the FREE account. For the free account, you only need an email address.
You need to verify your Bitdenex account, after you sign up. In order to verify your Bitdenex account, you need to provide some documentation.
When all the details are correct, your Bitdenex account will be open to trade. Once the verification steps are complete, you can start trading.
To complete your account, you need to do some verification steps before you can fully use your registered Bitdenex account. Go through the verification steps and add the necessary documents. After you add the documents, we will check those and complete the verification after all documents are correct.
We always show you the current exchange rate before you trade. Bitdenex don’t determine the prices. The traders determine the prices, so make sure you check the rate before you place your order or limit order.
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Nowadays people spend more and more time on their mobile devices and tablets. To ensure that visitors who access Bitdenex from mobile devices have a great experience on the device. Apart from optimizing the web view, Bitdenex is soon launching the mobile apps for Android and IOS users to unlock the power of better connection with people.
More Information about Ethereum
Although an altcoin, and not considered the main cryptocurrency when most people are given the definition, Ethereum definitely has its advantages and a plethora of different perks that make it definitely an asset worth looking into and potentially even investing in.
Advantages of Ethereum
One of the biggest advantages that Ethereum currently has that makes it an interesting Cryptocurrency is the usage of the Ghost protocol. This essentially is an implemented protocol that makes transactions sent through Ethereum platform faster confirmable and easily settable. Blocktime in Ethereum’s confirmation network is currently set to 10 to 15 seconds. This is compared to Bitcoin’s average 10 minute block time. This has been considered a main advantage that Ethereum has compared to Bitcoin and has persuaded many investors to move over to the platform instead of other cryptocurrencies. While other cryptocurrencies utilize different technologies and such like the Lightning Network, Ethereum utilizes the Ghost Protocol which is in turn used to allow faster transactions. This also pairs perfectly with the fact that Ethereum’s volume and market cap is not as big as other Crypto’s which allows for more space and ease of transactions instead of being clogged with tons of transactions.
Ethereum has been picked up by many investors because of its different technology that makes transactions involving Ethereum much more faster to confirm. With all Cryptocurrencies, confirmations must enact upon the Blockchain which is different for each crypto, however with Ethereum the Ghost protocol is a special protocol that allows for faster and easier confirmation times.
Ethereum is utilizes on various exchanges and can be used through many wallets that are specified on websites such as Coinbase, Kraken, Bitdenex and so on. All of these cryptos can be utilized to use more of the faster currency. Since the amount of transactions of Ether aren’t as vast as the Bitcoin transactions, they will also just generally be faster.
For the first time in history, Ethereum established its own programming language which was called “Solidity”. The language is currently still being developed by Vitalik Buterin and team, but it has some incredible features that don’t compare to other languages that are currently available on the internet market.
Solidity can be downloaded through a source code option on the internet and can then be integrated into your website or application for further usage. One of the coolest things that you can do with Solidity is that it’s fully integrated with Ethereum’s network. This means all transactions that go through using Ether can be monitored and fully shown through Solidity. In this sense it’s almost like a Cryptocurrency’s own API. This gives hope and confidence in the development of Cryptocurrency technologies however, because the process is very transparent and offers limited room for fraud and illegalities that might arise or have previously arisen in the Cryptocurrency industry.
One of the biggest problems that businesses and clients in today’s world has is the usage and enforcement of contracts.
Contract and guidelines
There is a very limited amount of power that is available in these ranges and there is truly a huge room for improvement when it comes to issuing contracts and establishing guidelines in exchange for results in today’s technological world. Ethereum offers an extremely innovative and refreshing take on this problem most people in the business world have. With the creation of smart contracts, Ethereum aims to create stability and promise in the economic world. Through smart contracts, people using Ether are able to real time see the transactions that are undergone in the public ledger and agreements can be set in stone.
These are new to the economic world and will truly continue to revolutionize contracts from both the business perspective and a client’s perspective. These smart contracts can be created real time through Solidity now, custom coded to the users preference. In this way payments are almost always verifiable and always allowed on both sides so both the sender and receiver are placed in almost an agreement that these funds can be sent and received and the public ledger of the blockchain allows this. Smart contracts are almost in a way the future of escrow payments as well.
Commonly used in real estate and through the usage of online freelancers through sites such as Upwork and so on, escrow payments ensure that the freelancer gets paid and the client gets their work that was requested for that payment. The client sends money initially to ensure legitimacy, and the funds aren’t released until the client is satisfied with the freelancer’s work; now imagine this on a global scale. Smart contracts through Ethereum will change the world, and ensure payment security in ways we haven’t imagined before.
Factually, whether the more than average cryptocurrency user wants to admit or not, Ethereum is considered to be an Alt-coin.
Ethereum an Altcoin
It is not the main “coin” in cryptocurrency and regardless of its status and completions/accomplishments it was a branch off of Bitcoin. With this in mind, Ethereum wasn’t exactly the first altcoin to be established, but in the sense of maintenance and legitimacy, Ethereum has definitely fought a very good fight at remaining one of the currently highest priced and most traded cryptocurrencies available on the crypto market. One of the most controversial topics involving Ethereum is its fight to remain at the top of the altcoin market.
Fight with other coins
It is currently in fights with other cryptos such as Bitcoin Cash and Litecoin in price range and growth. Ethereum showed some of the most exponential and positive growth in the past year and has shown a valuable asset for investors to look into and place in their portfolio.
One of the biggest reasons why some are so interested is because it went from about $10 in the past 2 years or so and vaulted to $300 with the recent Cryptocurrency boost. People initially thought it was a bubble of an altcoin; what was the difference? Ethereum showed some incredible features and awesome progress however when it was analyzed more in depth. The implementation of smart contracts allowed for a future that was unseen in any other cryptocurrency. Ethereum started to stand for something much more than a cryptocurrency. It was the first time that a branched off currency was able to stand for something other than just a means of payment.
Ethereum offered a future in which smart contracts and payments, contracts alike were all included within the same monetary unit and was a cryptocurrency. Through this, investors saw a huge opportunity. It was quick to explode when the news of the new technology allowed for huge invention and market opportunity.
The difference between Ethereum and some of the other unknown cryptocurrency such as Bitcoin is there is in fact a development team that is acknowledged and known.
Ethereum’s development is mainly based off of computer scientists and programmers who have somewhat of a similar ideology when it comes to cryptocurrency. With this in mind the developers have been able to find similar problems that they want fixed and aim at destroying those problems. With most programmers and computer scientists having good understanding of the blockchain and how it can be improved and implemented into everyday society, this is ideally the perfect team for Ethereum.
Vitalin Buterik, CEO and head of the developers behind the massive project, has often stated his fondness of Bitcoin but the clear areas that are available for improvement. Buterik claims that the blockchain is an incredible technology, however, there is definitely room for improvement in terms of speed and utilizing this technology. Buterik has been quoted saying that he does not wish to overcome Bitcoin in anyway, but rather create a parallel technology that utilizes and benefits from the ever growing blockchain.
Both Ethereum and Bitcoin utilize blockchain technology, which essentially makes sense when you look at Bitcoin and Ethereum’s price action: both coincide with one another, when Bitcoin jumps in price, Ethereum generally does as well. The team behind Ethereum is less interested in huge price action however; the team wants to see a decentralized currency come into the main screen and truly prosper from the power of the newfound technology.
Buterik has stated that Bitcoin needed its own scripting language that would coincide with cryptocurrency and could be utilized in application development. If you look at Solidity, you will see just this, as the language makes it easier for cryptocurrency to be implemented into programming languages and such.
One of the biggest movements that has been associated with Ethereum and has truly emerged since the publication of Ethereum into society is the idea behind open source.
With Ethereum being a cryptocurrency that aims at making it easier to implement cryptocurrency usage into everyday applications, it makes sense that the open source movement comes hand in hand with Ethereum. This means that developers and coders give the source code that comes with their development and gives it to the public, usually for further understanding and to learn new tricks in coding. What’s truly interesting about this, is it shows the release of greed in the technological and programming environment.
Developers are showing the world their code and their techniques in certain areas and with this in mind development has grown at rates that we could have never imagined. Open source allows developers to truly indulge in other’s coding and learn methods of coding and techniques that can further knowledge. Let’s say coder A is coding program A with the inclusion of Solidity, but is having trouble with a certain method; coder B releases an open source program utilizing Solidity and solves coder A’s problem. The cycle continues however, because now coder A will generally help others problems as well through releasing different programs and such.
It is a general practice that programmers and coders alike will use in general mainstream so that they can mutually benefit from their contributions. Ethereum truly focuses on the importance in this and has done so since its public adoption. Ethereum allows open source projects to be publicly released through different sites such as GitHub, however, they have themselves allowed Ethereum to be open source. In itself, that is a statement that says what Ethereum is about.
There’s no secret corporate greed going on, it’s all open source involvement that revolves around a belief in decentralized currency; and if everyone get rich in the process, then that’s a bonus.
One of Ethereum’s major advantages that it has over other cryptocurrencies is its true community involvement.
With an established development team and a CEO that stays away from changing the way users think or act, Ethereum is able to flourish in a controlled way that helps others immensely. One of the Ethereum development teams inclusions that really changed the way coders really saw the blockchain and their involvement in its development was the inclusion of bug bounties. Bug bounties are cash (or cryptocurrency) rewards that are given in exchange for finding coding, development, or stress related bugs within a program.
Huge payment to search for bugs
Ethereum’s development team placed a 25,000 Ether (Worth currently over 1 million US Dollars) bug bounty on testing the stress limits of the blockchain network when associated with Ethereum. This allowed for coders and programmers of all sorts to come together and truly test the waters and see the boundaries that the blockchain had for them. This way, developers and coders were able to search for bugs in exchange for a huge reward in payment. Almost like an easter egg hunt, coders went to work and found minimal bugs but nothing huge.
Involvement of Ethereum team
Just the act alone said a lot about the team that was involved in the development of Ethereum and how they went about bugs was truly great. The community involvement with Ethereum is truly unlike others and has some great advantages over it, and will definitely be a great perk above other cryptocurrencies that strive to be the best.
Bug bounties in the blockchain was another move that the Ethereum team truly made good. By utilizing bug bounties not only did they attract great coders and developers onto their team but also established a great clientele right before the release of Solidity; asking a general marketing specialist, this was a great move.
When it comes to trading cryptocurrencies, the general markets are very intrigued when it comes down to looking at all of the crypto’s recent price action.
Some cryptocurrencies have nearly quadrupled their value within the past year, and this pattern does not seem to be slowing down anytime soon. There has been something huge brewing in the cryptocurrency market for the past year or two, and the fact that Ethereum has been at the central of all this parallel with Bitcoin in some aspects make it an extremely high valued asset, great to be traded on various exchanges. Many exchanges currently do not possess Ethereum on their lineup for tradable currencies, but many are finally making the switch to do so as investors, traders, and the general public get wind of how important the currency may be to future development and contract establishments.
Trading Ethereum has become a big hobby in recent day traders because of its recent price swing that has dipped from its all time high, but quickly recoered.Generally in cryptocurrency, this far, the larger market cap Cryptocurrencies generally tend to hit all time highs, recede from a correction, then attain that high once again. Although this is not guaranteed, Ethereum has been one of those cryptocurrencies to show this pattern. Ethereum is tradable on some major platforms however, and is one of the only cryptocurrencies that is available with margin. Kraken, the widely known Bitcoin exchange and trading platform, offers margin trading for Ethereum to other currencies as well.
The inclusion is great and can lead to many other exchanges as time goes on. Ethereum tends to be unknown to many, but is a great trading option as its patterns have so far been straight bullish, making many millionaires. It has been regarded by many as being the future of trading, as you can get real time Ether through many exchanges including Bittrex.
If you’ve been watching the cryptocurrency markets closely within the past couple of months, or were lucky enough to have seen the market nearly a year ago, you have definitely noticed that there are certain factors that contribute to Ethereum’s positive price movement.
With everything, generally positive technical news is always a positive factor that contributes to some growth in Ethereum price. Positive bull views and such in the markets will also help to boost momentum, and Ethereum is definitely not excluded from this news.
Why is Ethereum different?
However, Ethereum is different from Bitcoin and other market trading assets when it comes to certain price action. Ethereum tends to be much more of a successor to Bitcoin and the overall “blockchain – crypto associated market”. While there are occasional news releases that state specific Ethereum views, the Ethereum price tends to follow the direction of Bitcoin and the crypto market. If there’s positive news about Bitcoin that drives BTC price up, there will usually be a surge in ETH price as well. If there’s bullish views that are released by some major political figure or tech mogul about the blockchain and about the future of Cryptocurrency, ETH will generally boost a bit as well.
Ethereum follows general market
Ethereum follows a more general market rather than its own. Since its emergence from a lowly cheap altcoin from last year into the $300 price range, which Bitcoin was at just last year, it has become more and more of a technological asset for the masses that enables smart contracts, and will generally just positive react to positive tech related news and crypto related views.
Ethereum obviously will definitely go up or down based on a single event or action, however, general prices can be assumed from general news; if the Blockchain was labeled illegal in the US we could assume that prices would go down. However, these are just general assumptions that will point Ethereum in a direction or not.
Looking at previous prices of different altcoins that are based on the blockchain, you can definitely pin point onto some alts that have literally skyrocketed artificially, nearly ten fold, then plummet down either 90% or so of its value within a matter of sometimes days or weeks, sometimes months.
The Ethereum price is still just that in this sense and cannot at this moment at least be regarded to as being so stable as Bitcoin. Now, this is keeping all personal and emotional views aside and looking at straight facts. Cryptos have shown extreme bullish potential within the next year, however that doesn’t mean it will continue. These bull runs can end at anytime. Keeping the fact that Ethereum has only recent exploded in price and the fact that it declined nearly %60 at one point in a short time frame earlier in the year, Ethereum can still be regarded as an altcoin that may be on the brink of a dump.
Ethereum price jumps
This is NOT to say that Ethereum is a pump and dump – Ethereum has shown more positivity and technological advancement than most of the scam coins associated with it, however, its price emergence was huge in the last year. It is advised to look at Ethereum with caution, since it has had some increases similar to other altcoins in price, proportional wise.
Ethereum market cap
Factually, also, the market cap and volume of Ethereum is lower than Bitcoin, which doesn’t mean anything really, but it can be more likely to be manipulated by bigger players in the market under the radars, which is common with altcoins. Although this is not definite, it should always be taken into consideration when making large plays with Ethereum.
The information provided by online exchanges has shown that many altcoins are pumped and then dumped shortly within a period of days or months; since Ethereum is still an altcoin and still only a year into its huge price surge, it should always be looked at carefully, as any other asset should.
The common question that arises in the cryptocurrency world is usually always, what’s better Ethereum or Bitcoin? That answer could be answered, if the author wanted price to go towards a certain coin.
However, realistically, the answer to that question cannot be given within a short amount of time, and the definite answer to that is completely up to personal preference. Ethereum is very different from Bitcoin in a technological sense. If you look at the technicalities involved with Ethereum, part of the reason that Ethereum branched off as an altcoin was to focus more on different usages than just being a main currency. If you’ve noticed, over the past year or so, Ethereum has differed in terms of utilization and its focus has shifted from being a payment system to being a programming-associated currency. This is what shot prices upward, because it differed from Bitcoin. Bitcoin has, and probably will have the simple cryptocurrency market on lock at least for now.
However, in terms of adding different functionalities and things that can be used for development purposes, Ethereum has begun focusing on that aspect. With the inclusion of a great development team and concentrated programming language, Ethereum has begun to add community involvement, smart contract creation, and others to its arsenal in terms of being a dominant of currency.
A common view is that Ethereum and Bitcoin will live together with each other, and will not simply die off and one will dominate the other. Bitcoin has its clear advantages, and so does Ethereum; if you’re looking for smart contract creation, you might use Ethereum, if you want simple cryptocurrency for an online payment, you might use Bitcoin. The answer to “which is better” can’t simply be answered as if it is nothing. Through this, both can be used in combination with each other as well.
Like any other cryptocurrency that’s available on the online market, Ethereum has received some criticism and some regards in terms of safety and usage. Because it is in fact a cryptocurrency that is, likewise decentralized and involves blockchain technology.
It is under the attack of being used for the worse; either by hackers, extortionists, or online marketplaces. Bitcoin was initially the main currency that was involved in the fire that it received in terms of being used for extortionists, and hackers, and even on online drug marketplaces, however that flack has since shifted more so towards Ethereum for multiple reasons. If you look at Ethereum, it is like Bitcoin in the sense that it is very powerful.
It’s power is what has slowly led to its public involvement and led to its incredible price action. Ethereum has some functions that Bitcoin does not however, and this includes some great opportunities to create havoc. Ethereum allows the creation of smart contracts through its custom programming language which allows criminal to take the black marketplaces and make them even easier to create and to regulate using Ethereum.
Since its creation, Solidity has received lots of backfire from some security experts and law enforcement agencies in the event that it is almost too powerful. Hackers and programmers can resultingly almost program and create applications that manipulate markets and in essence, the flow and usage of Ethereum.
It’s a very interesting concept, but law enforcement agencies and other computer scientists feel that Ethereum has extreme power to be used for good, however for bad as well in the event that people who choose to use it for evil can do so to a greater extent than with other cryptocurrencies. Also the anonymity factor contributes to its negative connotation in this sense, making it feared.
With the rising increase in the cryptocurrency market and the crypto interest by the general public arises the opportunity for some huge investors to make some serious money from the rising interest.
Bankers and investors
Ethereum has become an increasing interest among many bankers and investors alike. Many institutions have focused on getting licensing and permission on issuing and allowing the sale of Ether on their sites, because the general public has found that there’s great usage for it in everyday life.
Certain banks have began looking into offering Ether not only for trading purposes, but for implementing Ether straight into their associated bank accounts. Rumored, has been Credit Suisse, Goldman Sachs, and so on; imagine a bank account with Wells Fargo or Bank of America in which you received your custom and very own wallet address? The opportunity is endless and may prove to be incredible in the long term. Banks have been looking into providing Ether to their clients as they feel Ethereum has huge potential when placed in the hands of their bankers. Bankers are commonly associated with not having huge control over their money even though banks generally want them to have that feeling.
Factually, banks can’t give their customers that much power because if they did the money would probably be lost. Banks want to give their customers power and give their customers the opportunity to have control over some money opportunities, however, with US Dollars and regular fiat currencies they simply can’t do that. Ethereum gives them this opportunity, and from a bank’s perspective, any general banker would love to have that sort of power.
Ethereum is truly a free cryptocurrency and its inclusion into programming recently has shown that there’s some huge things coming; now imagine if banks could actually offer Ether? It would be a definite game changer.
Investors and traders, amid avid users of the cryptocurrencies that are available in today’s world have recently been flocking to Ethereum during times of crisis in the middle of Bitcoin and Bitcoin cash price action.
The clear reasoning behind this has shown that because in the middle of a crisis that involves Bitcoin and its newly forked Bitcoin Cash, the first runner up and the alternative that people are more than likely going to engage in next will more than likely be Ethereum. The new cryptocurrency has shown promise and stability in times that have involved Bitcoin and Bitcoin cash’s rapid decline. With that being said, we can analyze Bitcoin prices and during steep or sharp increases in price action when looking at Bitcoin, Ethereum generally follows in the same direction.
Ethereum is more than a alternative
However, if we take a look at when price action for Bitcoin slips up and tends to reach a larger decline, we can see that Ethereum price tends to increase rather than decline. This further shows that Ethereum is more than just an alternative to the currency as it shows promise when Bitcoin prices start to decline. Although this isn’t a definite answer ever, and the algorithm for increasing or decreasing Ethereum price is never a solid answer, this is a generalized assumption that is come to whenever some huge price-changing events occur. For example, in the more recent times where Bitcoin price has shifted downward along with Bitcoin crash in the turmoil for top spot on the mining space, Ethereum price increased more than 10%.
What we conclude here is that if all fails in the Bitcoin world, the most likely event is that people will flock to Ethereum as it’s the most closely associated. Although nothing is definite especially in the cryptocurrency world, this can usually be generally assumed.
Ethereum has definitely, so far, had an incredible run in terms of attaining huge gains in the crypto world, as well as the general decentralization field.
People who love to emphasize freedom of speech, decentralization, and all around revolution are usually behind Ethereum’s support, as not only do its development teams have very freedom based views, however the technology itself is based around very decentralized views. Smart contract creation allows for users to create their own, non-third party contracts, while all the way allowing complete user customization along with the solidity programming language.
The efforts behind decentralizing user interface and all around user compatibility within Ethereum is truly revolutionizing. One of the biggest areas that it has since faced in efforts at creating a free internet for all, is its integration of Ether into social media, specifically a platform called Akasha. The platform runs completely decentralized through the help and usage of Ether and the blockchain. Through these technologies, Akasha completely decentralizes for the first time in history, social media.No owner or company owns the information you share, and the servers are freely ran upon the people.
In exchange for quality content, users are also rewarded Ether; almost like a paying system for those who are truly heartfelt and involved in their social media content. Everyday we see people sharing countless amounts of valuable information to a centralized social media through outlets that range per country, when through blockchain technology we can create the same exact system except with a decentralized base and even a rewarding system is implemented.
Ether is rewarded through Akasha in a way that is similar to Reddit in how people are given upvotes; those with the most upvotes are rewarded Ether. This system enforces and encourages high quality content instead of the spam you see everyday; all while on a decentralized platform.
It’s 2017 and one of the most commonly sought after achievements is creating and launching your own company. Running it, getting it set up, and establishing a user interface that works well with the team we assume you have acquired as well, is no easy task.
The new gateway
In addition, to go through all of these, you’re most likely going to be spending thousands, maybe even millions in attaining rights, grants, licenses, and so on in order to simply legally have this company operating. Things like this will most likely get in the way especially if you’re an ambitious and aspiring entrepreneur. Ethereum and the implementation of Ether has created new gatewaysand opportunities for entrepreneurs that have never been available to the public before.
Free economic systeem
Through this decentralized currency operation Ether is available to be allocated to those who truly seek it out and seek out a free economic system. Ethereum offers some incredible technology when it comes to helping to create a start up company. Certain companies are offering Ethereum as venture capital, and the liquidity rate of this sort of venture capital in comparison to other venture capital websites and companies is skyrocketing in percentage. Since Ether is decentralized in terms of issuing venture capital to start up companies, the opportunities are truly endless.
You can issue certain amounts to beliefs you have or ideas; all through Ether’s clean platform design as well. New companies have emerged also that have been built on the Ethereum platform that promise new ways of managing and operating these companies effortlessly.
With the implementation of blockchain technology, platforms have been created in which you can easily raise start up capital, manage market caps in your business, and issue these currencies with Ether, all legally without huge fees. As proven, Ether is making start up companies much easier to start and less of a struggle.
With the introduction of the blockchain technology, and usage of cryptocurrencies, specifically Ether, new bounds and limits can be pressed in ways that we’ve never seen before.
One of the biggest examples that we can see from this is the availability of the new technology is the ability to do things with computing power and storage that have never been allowed to do beforehand. So take for example the idea that on your computer there is a lot of extra storage and power that you’re not using 100% of the time. There’ usually a couple Gigabytes available, or maybe even some hundreds of Gigs as well as some things such as files you’re not using, maybe even programs.
New technology that is built off of the blockchain in addition and combination with Ethereum and Ether uses new methods and ways of reserving storage and making it available to the public to rent and use if they’re willing to pay. Take for example when you’re out on vacation for the Summer, but you have a house that is generally in a great location for going to the beach or maybe even just being outside. Generally what most people will like to do is make this space available for rent during the time that they’re not there anymore.
Storage and file Ethereum
People will use certain outlets to rent the areas that you’re not occupying at the moment. Now, what if we applied this same way of thinking and concepts to the storage and file aspect of your computer. We can actually do this in today’s world utilizing Ethereum and blockchain technology. Now you’re able to rent out certain files and storages to people when you’re not using it.
These are decentralized platforms so you don’t run into fees or legal errors. Although certain technologies like this have limits, in this case it is a great opportunity to make some extra cash on storage you’re not using.
So one of the biggest factors that you have to keep in mind in the event of a conversion rate for cryptocurrency is the conversion currency to which you are converting your crypto to. So let’s say you want to convert your current US Dollar to 1 Ethereum and the price is $100.
If you go into an exchange and take a look at other aspects such as how many pesos or maybe Japanese Yen it costs to purchase Ethereum at the same price, you may be surprised as the price will vary and percentage difference amongst these prices will also be different. Many people wonder why this is, and the answer is quite simple when you look at it; there is global foreign exchange market that measures the values of every currency available on the trading market.
So for example the rate of the U.S. Dollar to Japanese Yen may be at a large rate; maybe dominating percentages, but the exchange rate from U.S. Dollar to Ethereum may be higher than the exchange rate when applied to equalizing terms of Japanese Yen to Ethereum. What this means in the long run means many different things, one this is used for arbitrage purposes by some traders, which isn’t illegal but is considered to be unethical by some. Also, even though arbitrage is considered to be a risk free method of trading, when utilizing it for cryptocurrencies, there are some actual errors that are involved.
Also, the exchange rate from currencies to cryptocurrencies are ever changing and have infinite possibilities. So this may be the reason when a user opens an exchange that their purchasing power for Ether may be different when they’re in Japan or in the U.S., or any other country that has their own unique currency.
Although considered to be an alternative cryptocurrency and not a really mainstream crypto as opposed to Bitcoin, Ethereum within the past year and a half has made some serious gains and serious movements to be shifted into the mainstream media and be adopted for public usage by an infinite amount of people.
Ethereum has shown progress very similar to Bitcoin has previously in the past year. Different wallets have had no choice but to start integrating Ether into their wallet systems and such over the clear fact that the crypto is being more widely used and accepted at faster rates than they have ever been shown before. Ethereum has made progress advancements and development in various fields; this ranges from the mainstream media in being used for just generalized transactions that are hoped to be faster methods of payment, to some pretty complex storage renting platforms that have emerged, built on blockchain technology. Ethereum has shown promise in the development world as well.
Development of Ethereum
The development world has allowed for some serious developments and advancements during the recent time periods. Ether has been incorporated into mainstream programming and has shown as the highlight for future development. Ether shows promise and has slowly but steadily started to become adapted and integrated into everyday society through a plethora of different platforms and technologies.
Within the future whether it be from various ways of development and programming, to ease of transactions and making better ways of communication, Ether will show an even further increase. Ether will show its face amongst various ways you may not even imagine as well; from social media, to file storage, to programming and development, Ether is here to stay.
With the inclusion of Ethereum being a great technology that has infinite improvement that can be created, edited, and stored.
We have the introduction of a great amount of new technology systems that have been created with the importance and stressing of decentralizing databases in mind. To the common eye, this may seem not important whether you’re new to the technology or not, however a decentralized method of storing your identity including your credit cards, your licenses, identification purposes and so on, is extremely useful in a society where databases and various methods of obtaining and holding your private data are hacked and exploited daily.
Let’s take a look at previous data leaks and intrusions of privacy: many of these events have occurred because of the lack of protection in information storage systems. Lots of times there will be huge leaks of data and such because of the lack of protection companies will go through to ensure security. This is a huge flaw in the database and business infrastructure that is present in today’s society.
Now imagine a system in which identity can be decentralized from owning companies and such; with online methods of social media like LinkedIn and such, you can create non-official online identities that aren’t gone through huge measures to secure. If LinkedIn is ever hacked or breached, since it is a centralized platform that holds its information on its privately owned databases, all of your information can be leaked and used for further means of extortion, and whatever else that hacker desires.
However, with Ethereum, on a decentralized platform, people can create online identities on certain platforms through start up companies that enabled decentralized online identities; what this means hopefully is that there’s nothing to hack. Information and such is held through the blockchain which is virtually unhackable.
One of the biggest developments that allows Ethereum to be so fondly looked upon and has such promise in the future world, is that the entire world is beginning to run on technology.
Future of Ethereum
Whether you’re a doctor or an Engineer, technology has come to completely dominate all major fronts of the world and has led to a means of promise in a struggling world where not all live lavishly. Your banking, social security number, all of the sensitive information that can range from hundreds of different fronts is available in databases that are, yes you guessed, it completely centralized sensitive pieces of information.
Information is money
This information is worth tons of money, and is seen as almost like a treasure hunt to hackers. If they can anonymously get your information it can be worth tons of money on black markets, and the unfortunate fact of the matter is no matter how high tech and high guard you may think that a company may be and their database is based on what they’re telling the public technology reports, it is hackable.
Revolution of Ethereum
Here comes Ethereum now, with the idea of decentralization and the true option of complete internet and data revolution. The blockchain offers a decentralized option in terms of holding, sending, and receiving data – this way there is literally nothing to hack. Data isn’t owned by centralized databases that are vulnerable and can be faced with hacking possibilities.
Everything is based on the blockchain and through the decentralization process there is free information and data stored on the blockchain. This would make hacking a thing of the past, and the possibility of you losing your life savings in an instant all irrelevant.
With an increasing cryptocurrency market it is only natural that we see an increase in the generalized market cap when it comes to specific cryptocurrencies.
Certain cryptos have incredible amounts of growth and the amount of room that the cryptos have to grow yet is incredible when looking at the long term. Ethereum has had a very steadily increasing market cap as of recent 2017 year, as it has shown very steady development and improvement. Ethereum has been increasing in market cap, which can mean a couple things for the crypto altcoin; primarily it just means that the trading activity within Ether is increasing.
Increase of market cap
This means essentially, if you’re not familiar with general market terms, that the interest and trading activity in Ethereum is increasing along with the market cap. The dollar amount shows the essential amounts that are being traded within Ethereum platform. This means basically since the market cap, or volume is at 30 Billion US Dollars, that 30 Billion Dollars worth of priced Ether, valued at the current amount is being bought and sold. This number has been increasing ever since last year mainly and has shown no signs of slowing down. With an increasing market cap, this essentially means that the interest in general Ether is increasing as well. Although it can be sort of reach, an increasing market cap means an increasing interest in the crypto.
More people involved
It means more people with large amounts of money being interested in it, watching it and monitoring its activities. Never before has a crypto shown this increase, so in the near future they may be an incredible amount of growth since it has alone reached record breaking amounts of trading volume.
Ether volume can be related almost to its amount that can be bought and sold in total. A larger volume usually means larger importance; making Ether pretty important with a 30 Billion US Dollar market cap.
With an ever changing market for Ethereum that seems to be shifting in main focuses and views, it has since gathered the interest of the video gaming industry.
Inspired from different markets
Ethereum is definitely one of a kind; it was has shown growth and increasing amounts of volume and has shown inspiration in various different markets. From online tokens for completing certain tasks, to enabling self made smart contracts, Ethereum has some serious potential now to be used in video gaming. The online token is completely decentralized giving it some great perks in the online gaming world. Researchers and developers have recently been working to implement Ether into online gaming platforms. Think about it; a decentralized currency that can be used in game to legally establish marketplaces for in game items is almost ingenious.
A new concept
The new concept which is being developed by some online platform gaming developers offers some incredible insight into the current online gaming scenario. If you’re familiar with gaming, most games these days have offered things called micro transactions which allows players to purchase in game items with real life cash.
Ethereum and blockchain
Ethereum offers a brand new take on this that is incredibly profitable for both sides in the sense that Ether can establish relationships between players and developers. With Ether, people would be able to utilize and sell in game items or buy them legally and non-restrictively using the blockchain area. With blockchain invading all areas of current entertainment, it would be no surprise if it did the same with video gaming.
Ether has been offered up by many new gaming developers as being the future of the now called microtransactions and can provide some incredible opportunities for developers who wish to improve the future of online transactions and payments.
Ethereum has recently had a very large price increase that can stem from multiple amounts of information but mainly for the fact that recently it has been increasing in steady amounts for ways that you can spend the items online.
Buy online with Ethereum
Ether, the currency base that is stemming from the Ethereum platforms offers some incredible amounts of opportunities in the online buying world. Since Ethereum is a stem and an altcoin from Bitcoin, it offers the same basic and general functionalities that Bitcoin does in its ability to offer anonymity with the initiation from the other side assuming that people take the right precautions. This offers some great opportunities for online businesses. With Ether being used and adapted into many businesses as of recently, there is a lot of room for Ether to be enabled in many people’s lives.
Buy anonymous with Ethereum
Ether allows everyday people to make completely anonymous payments that they otherwise would not be able to create with other currencies. With this in mind, people become attracted to Ethereum; this lets people make payments regardless of what they want to do, they have room to make fast easy and anonymous payments that will thrive in the long run. Many platforms and online businesses are increasing in the amount of ways they allow cryptocurrency payments and many are recently starting to include Ethereum as base currencies you can use because of its very complex and readily available currency system. Ether can be used anonymously so people won’t feel embarrassed of someone seeing their payment.
All transactions are publicly available on the blockchain, but Ether allows for some huge room to improve for online businesses. Companies are starting to realize this and allowing Ether payment as its literally like accepting a form of payment that’s a breathing investment. It can be related to almost accepting ever increasing stocks as a payment.
Many people are beginning to wonder why people are so invested and interested in the ideal behind smart contracts and the mindset is not as uncommon and uninteresting as one might assume at first.
The main argument that is used to say why Ether is a dominant player in the crypto game, factually have the potential to take over the crypto game. Smart contracts can be looked at almost like an escrow system in which you can create your own escrow payments and systems. So let’s say you want to make a rather large payment in Ether to a company for a portion of let’s say Apples. Say you want to buy 500 Ether worth of apples so you load up on Ether. With Ethereum’s built in smart contract feature you can establish your own escrow system, assuming you know Solidity or have some sort of platform that enables smart contracts 3rd person wise, that says you won’t give away the Ether until you receive the Apples.
Real estate and Ethereum
Escrow systems work mostly in the real estate game which states that if a new buyer of a house purchases a house and lives in it for 30 days and is unsatisfied for some reason, their funds are given back to them and released back. The original person selling the house will not get the funds because they were either dishonest or sold a product that wasn’t satisfactory, or there was something initially wrong with the product that was delivered.
Ethereum is working on implementing that same sort of function only with cryptocurrencies. Although the details are unclear and still in the early development stages you can get your hands on creating and coding smart contracts through Ethereum’s very own programming language Solidity which focuses on creating and maintaining these smart contracts.
Solidity, Ethereum’s very own programming language is a gem that is waiting to be released to the public. Although it is still very early in developmental stages and doesn’t have that much traction within the modern world just yet, analysts are betting huge amounts of money that.
Ether’s Solidity will become a huge investment to look to the future at. Solidity gives Ethereum the advantage in the altcoin market as it is currently the only cryptocurrency that has its very own programming language. This gives it so much unaccounted for power that it has only truly begun to scratch the surface of what it can accomplish in the long term. Solidity truly has the power to propel Ether and cryptocurrencies into the mainstream, as it can almost be seen as the bridge between the general public and the incredibly advanced computer scientists who work daily at implementing different features into Solidity. Solidity can be used in combination with applications, web applications, and much more to establish some incredible possibilities for the future of cryptos.
Ethereum also has some great perks that are unlike other cryptos of its kind including the creation and maintenance of smart contracts which can help once adapted into the general public. With Solidity being still in developmental phases as well, we can expect future implementations that will change the way people use Cryptos and will be available in the general world for usage.
It’s no secret that Bitcoin has been the dominant coin in the entire timeline of cryptocurrencies. It has shown incredible promise as just a consideration of an altcoin which has undoubtedly set the standard for altcoins to come.
As one of the first altcoins to truly emerge on the scene after Bitcoin, it has definitely set a definite amount of prosperity and development that must be put into a cryptocurrency in order for it to be truly considered successful and grow into a prosperous and high volume traded asset.
Success of Ethereum
Ethereum didn’t start off as just this successful alt at first however. It had to go through some conditioning, which is without a doubt has done and has proven it will continue to do. Ethereum showed that it wasn’t just an anonymous no name work of technology that was focused on short term gain, but by its development practices Ethereum showed that it was here for the long run. Developers and co founder Vitalik Buterin stated their interest in incorporating Ethereum into technology based world to which we live in at the moment. This makes a lot of opportunities available to all and shows that there is a team devoted to making this better and better with time and development.
Ethereum’s ability to create smart contracts and be used for anonymous payments while all being decentralized shows that it has importance in decentralization but also that it has a team that is devoted to making sure it goes in that direction. Although Ethereum can be considered to be an altcoin it has shown that it doesn’t wish to overcome Bitcoin but rather grow with it and prosper in great ways.
It singlehandedly showed other altcoins the way to go if you wish to succeed. It showed that in order prosper you must be dedicated and not focus on sole greed. Most importantly you should not pump and dump.
2017 has shown that it is probably the year of the hard fork as it has shown evident in both Bitcoin and now evidently Ethereum.
The most recent hard fork comes from a foundation that is actually a part of Microsoft’s foundation of “Coco”, a break off the current blockchain to emphasize more on privacy. At this point it can be evident that with each hard fork, each coin and alternative crypto has some sort of goal or focus that it will aim to achieve and maximize in terms of efficiency. With Ethereum, we saw it was to focus on smart contracts and being able to implement usage into public adaptation through Solidity and future developmental projects. With Litecoin we saw the emphasis in making faster transactions that original Bitcoin and overall zeroing in on speed and making speedy transactions rather than other factors like anonymity or smart contracts.
Now with this recent hard fork of Microsoft’s new Coco, we can see what will supposedly be named “Metropolis”. This new cryptocurrency essentially aims at focusing on anonymity rather than other aspects like speed and such. Metropolis’ main focus will be to fork of Ethereum and use its incredible framework to establish a great anonymous-enforced coin that will focus on the anonymous aspect. Although it will still be off of the Ethereum based blockchain, it will go under a new name, similarly to how Bitcoin did with Bitcoin cash.
There is not a large amount of information behind Metropolis and how it will be supported, what exchanges will support it and such, but it can be assumed that with the upcoming fork, it will be similar to Bitcoin in that you will be credited the amount of Metropolis equal to the ratio of Ethereum you possess in your account. People have flocked to purchase Ethereum in hopes that Metropolis will equal some free money at first.
When people first hear of a hard fork in a blockchain, they usually assume it to be a bad thing that assumes negative price movement, and some overall clutter in the aura of the cryptocurrency at hand.
Bitcoin hard fork
When we are looking at Bitcoin hard forks, we can look at Bitcoin cash and see that it was a fork and a split from the entire Bitcoin blockchain network. Bitcoin Cash moved over to try and maximize the profit that would be attainable by mining at lower rates. It created its own sphere however, which is different from a hard fork in which the blockchain stays the same and remains usable in the technology essence. Bitcoin saw a hard fork in the entire blockchain, while Ethereum regularly experiences some hard forks for sake of improving some better aspects of the crypto.
Ethereum regularly sees some hardforks that aim to improve different security and technological aspects of it, not to break off and form a different company of sorts that beats Bitcoin in terms of looking at Bitcoin Cash. Ethereum hard forks are aimed at improving the overall aspect of Ethereum on the Ether side of things rather than a one sided argument. In a sense, investors view splits or forks of Ethereum with the intention of not being approved by a community consensus as being “contentious” and those who work to improve the technology and abilities available in the Ether side of blockchain as “non contentious”.
These aspects are nice as they show that the Ether development team and teams that break off of the Ethereum side usually seek out community approval or agreement before going through with the act. Bitcoin Cash can seen as contentious as it was done without entire community approval, and most Bitcoin forks will continue to be that way.
Ethereum’s development team has been hard at work since its original introduction to the crypto and overall market scenes in 2013 and around then.
Ethereum compete other crypto’s
There was some serious controversy when it came to the crypto market and how Ethereum would compete with other cryptos and altcoins in the race for the king spot of the crypto world. Ethereum chose a smart route which involved focusing on the implementation to public society. This could be accomplished and done through a series of releases to the public to have their own take on Ethereum. The team behind it wanted to give users the power to create something that was up to them and create programs, functions, and all that through their own lenses with Ethereum as a framework.
Ethereum Virtual Machine
Ethereum has proven it wishes to be a framework for some huge projects in the near future rather than being solely a cryptocurrency, it wishes to create some fortune in being the backbone of some projects. With this in mind, Ethereum’s virtual machine, labeled Ethereum Virtual Machine, abbreviated by EVM, has been active within the past months or so. The virtual machines utilizes a decentralized and turing complete machine that can be used to actually execute scripts in almost real time. Ethereum has shown that with this technology it can provide some incredible future inventions, and with this current virtual machine, we can see some real time programs that haven’t been available through regular computer power.
The Ethereum Virtual Machine is much like its accompanying scripting language Solidity in the fact that it is still in development and has some ways to go before it can be labeled as a full fledged virtual machine that is beneficial both through input and output. Solidity has shown promising progress however, so it’s more than likely that we see similar progress with EVM.
One of the biggest questions next to “Is Bitcoin a bubble?”, is the question of
Is Ethereum a Bubble?
The question is commonly asked in combination with the allegations of Bitcoin mainly because Ethereum price literally boomed in such a short amount of time. With most people, this is a sign of a bubble about to burst when many people are getting rich quick and no one is losing money in a market that is working both ways. Markets are supposed to work by gaining in price slowly but Ether has been gaining huge traction in the technological world some that is uncomparable to other forms of technologies and companies. If we look at this logically too, by purchasing Ethereum, you’re not purchasing stock in the company that supports Ether, but you’re rather purchasing the physical Ether currency. You’re literally purchasing the new form of technology, not betting in the company behind Ethereum, or anything of that nature.
Purchasing Ethereum is purchasing the technology and holding onto the physical technology. Ether is the first time you can actually physically buy into the idea behind creation of smart contracts, and the first time that you can actually buy into an idea, and invest in the idea behind Ether. Ether’s principles and development team are just a fraction of what you’re buying. Although you’re saying yes, I want to support this team in their development, you’re buying their currency and giving it value by utilizing it in the various incredible ways it can be optimized.
In the question of is Ether of a bubble, there’s not going to be a singular yes or no answer. No one knows for sure and no one can predict the future. But purchasing Ether shouldn’t be a “bubble” waiting to be popped, because in essence it’s not even a “bubble” to begin with; it’s a currency, not an overpriced, artificially boosted stock.
Nowadays, the truly better question of the matter is, “Where can’t you buy Ethereum?” Although to those who have researched the topic and know about cryptocurrencies and such, you already know the answer to this.
Like Bitcoin and other cryptocurrencies, Ether, from the Ethereum blockchain is distributed by going on and purchasing the crypto’s on select sites which are exchanges. These exchanges have acquired specific and good licenses to distribute your desired amount of cryptocurrency. To acquire the currency, the exchange usually comes associated with the exchange and shouldn’t be difficult to set up. Usually all that is required is some verification, proof of residency (maybe if you are buying in large quantities), and depending on the amount and country you are living in, a custom amount of things. Buying Ether can actually be easier than it might seem. The process of purchasing it is very similar to that of buying Bitcoin from exchanges as it goes directly into your wallet that you typically set up within your exchange.
There are additionally some 3rd party platforms that you can use to access your Ether and send and receive it, however most people use online exchanges for utilizing Ethereum’s basic transaction functions. If you’re looking for a more in depth option and want to focus on some development aspects of Ethereum, you can download their official Ethereum wallet located on the Ethereum non profit website. Through this wallet, the processes you can enact are a bit different from the others you will be creating. The downloadable wallet that is enabled on all platforms, can be linked to and modified with certain instructions through Solidity which is then in turn used for further application development and so on where you can access funds and balances instantly.
Buying Ethereum is actually quite easy as many exchanges have implemented Ethereum support within the 2017 calendar year.
With the growing cryptocurrency market, there are many online options that are making it an available option for you to use Ethereum as a plausible payment system.
Although Ethereum has started with various more-so shady transactions and received a somewhat negative connotation for being based on darknet markets and for shadier transactions, Ethereum has since improved upon that and let the fact that it was a powerful enough currency to anonymize people as a positive factor for it. Ethereum is now widely accepted on many platforms as a quick means of making payments.
Big banks who have looked into the development and utilization of other cryptocurrencies have also been looking deeply into Ethereum as well because of its potential in being able to create smart contracts within the blockchain and have some great applications derive from it. Some huge banks such as Wells Fargo has looked deeper into the utilization of Ethereum and implementing into their own banking softwares as it could mean faster and more instant transactions.
Acceptance of Ethereum
The thing with Ethereum is that it is not as widely accepted as Bitcoin, for example, but is definitely appearing in the public eye in terms of being as useful as Bitcoin. Usually people will hand in hand see Ethereum with Bitcoin so it has helped with its exposure; while there are not many countries where you can legally use Ethereum as a means of payment, many online businesses have begun to accept Ethereum as it has proven to be a valuable asset for many and as a form of payment it seems to pay back for itself.
Ethereum has been known to start featuring support from some pretty big sites as well that range from online gift card buying sites, to Amazon associated sites and so on. The possibilities are still expanding however and there is still much potential.
Many people often speculate about cryptocurrency prices in the next 10 years and the question is quite interesting when we truly look at the possibilities that these cryptos hold and what they could possibly achieve within the next 10 years.
What drives Ethereum?
To asses this answer though we really have to take a look at what drives Ethereum. Ethereum is no different from Bitcoin in the way that it is a cryptocurrency and the public only sees it as just that at the moment. However, in the future, will we see a difference and a divide between the two? Naturally, we take a look at Ethereum and if we actually listen to what it’s about and what the developers are speaking about, we can see that there is a clear difference between the two.
What Ethereum depends on?
Ethereum really depends heavily on its scripting capabilities and the fact that it has tried to differ from Bitcoin in public adaptation by creating its own scripting language Solidity that has been used to program a lot of the newer frameworks that are coming out that support Ether backing. With this in mind, the price of Ethereum and the price it excels to is really dependent on the technology that is associated with. If people start to rapidly use Ethereum in combination with programming there will be infinite amounts of wealth and prosperity that can be achieved.
There is never a definite answer where Ethereum prices will hit and at what rates these prices will be hit, however, there is definitely some strong bullish sentiment in the Ether market and the possibilities that it comes with are truly unending.
We can see Ether being integrated in very regular times or being some sort of valuable non-attainable entity; it’s really up to your own belief and where you truly think the technology aspect of the world is headed.
When people think of Ethereum they usually associate it with it being a long term investment that all of the sudden started to boom in price action out of nowhere. Although this was factually what happened, being at less than a $1 a year ago and then suddenly booming to over $300 in a short period of time, it’s not all that it is.
Ethereum as investment!
People need to understand that Ethereum is not a sole investment option, it’s not like a stock or index fund that is specified just for long term growth, it is the first time where you’re purchasing a form of currency. Ethereum can be seen as being a long term investment in the way people place value in it by using it. So the more people start to buy and actually use Ethereum the more it will evolve and turn into bigger prices and seem to be a huge investment. As Ethereum grows, the price will grow with it. So when you invest or purchase Ethereum you have to think about the real purposes that you are using Ethereum and why you’re purchasing it in the first place.
Are you simply buying it as a form of exchange, to purchase something maybe?
If so, it can’t really be seen as being “better” than other currencies or assets because you’re really just using it as a form of payment and that form of payment fluctuates in value pretty frequently. Additionally, people need to understand that if you’re using it as a form of investment that it is still considered an altcoin and the value of Ethereum could literally be cut in half in less than a couple minutes depending on the situation.
Ethereum has in the past proven extreme growth to accommodate its true value. But if you’re using it as an investment opportunity you truly have to be careful because it was not initially created for this purpose.
One of the biggest things that developers and coders of the technology that accomodates Ethereum and helps Ether to be distributed throughout the blockchain wanted to focus on was the speed aspect involved with it. If it was going to break off from Bitcoin and become its own sort of entity, Ethereum had to become something that Bitcoin wasn’t.
In this way, it didn’t want to compete with Bitcoin but it wanted to create a name for itself, and in order to do that developers and programmers specified and focused completely on a portion of the technology named the Ghost protocol. This was a protocol that was branched off of the original blockchain and through this it was able to create a form of protocol that allowed for faster transactions in the blockchain through Ethereum. Ethereum uses a different protocol than Bitcoin so this way, it can create and establish faster payments all while confirming faster as well. The possibilities through this are truly endless as the ghost protocol allowed for very fast confirmation times.
Fast as Bitcoin
Ethereum soon became mainstream in the sense that it was almost as fast as Bitcoin. Therewere some clear differences though. The common question arises around Ethereum however in the way that it asks how fast is fast when it comes to transporting Ether through the blockchain. The answer really depends on various factors. For starters, the amount of Ether sent through a chain really sets the tone for how long the transaction will take.
It’s all on the blockchain so technicality factors that go for Bitcoin usually go for Ethereum as well. Transactions are typically very fast however and are usually around the 1-10 minute time frame, still faster than most bank supported wire transfers which is definitely a positive.
Whether believable or not, the users and creators truly have the power when it comes to spreading awareness and increasing the usage that is associated with cryptocurrencies; when it comes to Ethereum as well, the developers have even provided tools that can truly help to spread the awareness involved with Ethereum.
Ethereum allows for some huge improvements and allows for huge user involvement. Ethereum has some great community involvement that is truly unparallel to other networks and cryptocurrency bases. Ethereum’s community is unlike others in the sense that it has developed and allowed for its very own custom programming language that is available to the public to establish and create their own blockchain supported programs and applications. This can vary from programmers but can also go as far as people with very limited programming knowledge, as many opening and start up platforms are trying to get people and users used to this technology as it truly has the potential to release a plethora of positive growth.
Own creation with smart contracts
Ethereum also has smart contracts enabled in its framework which allows users to do their own creating, their own rule setting, and their own terms to which the other parties must agree with. Its truly looking for a decentralized environment in paving the way for cryptocurrencies and aims at creating a leaderless economic system in which the users can freely create and make wondrous applications and systems/platforms that allow for positive growth and wealth. The Ethereum community is also very unified.
Developers are always trying to help others and community members are always trying to assist one another. By telling another family member or friend about the possibilities of Ethereum as well, you are automatically increasing awareness and public adoption of Ethereum which can lead to a brighter technological future.
In today’s world the entire system of humans now revolves around technology and the associations with it are truly boundless.
Implementation of Ethereum
Your life basically runs on technology now, and the main argument for Ethereum and implementing it into today’s world is to make sure that your life that is now based on technology does not get hacked or intruded upon. Could Ethereum be the answer to this? If all platforms and technologies that we commonly use everyday were running off of Ethereum and the blockchain, we would literally never be able to be hacked.
Facebook and Ethereum
Take for example Facebook. Chances are you have your address, phone number, first name, relatives, and so on all located and linked to your Facebook. Facebook is not a decentralized platform however, and the information is stored inside highly secured databases; however they’re still databases that can in essence be intruded and hacked. Facebook has suffered minor hacks before, however if Facebook was let’s say running on a decentralized platform there would be nothing to hack. If all platforms and technologies were located on the blockchain there would be no information to steal or hack from databases and such. Credit card informations would be secure on the blockchain because of its virtually unhackable nature. Now, there is still much development that has to go into learning about Bitcoin, Ethereum, the blockchain and so on.
It’s really up to users if you’re looking for an unhackable world. If the world revolved on blockchain, we wouldn’t be hackable, but then again the chances of everything switching to blockchain is right now quite low. The goal is to increase the awareness for Ethereum, as platforms running on Ethereum would lead to great possibilities.
Ethereum has started blowing up in recent years, and a large part of that is because Ethereum is being actively traded but it is also being incorporated in the coding and development world.
Highly valuable crypto
Ethereum really goes hand in hand with the development process of coding and application development as it is so easily linkable and the development team is constantly releasing repo’s and real time information updates on how to code and utilize it better in certain sense. Ethereum is a new one of a kind asset as it is so highly valuable in the crypto world. Cryptocurrencies as a whole have been quite important in development in the past year, but nothing really like Ethereum.
Ethereum is on
More platforms and companies are being developed and started up on Ethereum than ever before. There are more coders and developers including Ethereum into their data structures because they see it is powerful. Within the past year alone it has grown over 3.000 % and shown no signs of stopping. We can see Ethereum has played an important role in the growth of cryptos as it provides the application scripting side of things when it comes to developers, this is a safe haven.
People have been releasing new sorts of companies and technologies that are unlike anything we’ve seen. People are technologically able to rent space to other people and are able to create pieces of information that is decentralized for the first time in history. We can see some incredible advancements coming at rates never before seen, and this is just the tip of the iceberg.
The coding world is easily affected by Ethereum primarily because the crypto is so easily integrated with coding now that it is almost hard not to include it. People are able to create real time-crypto based applications there unlike anything that has been created before.
If you haven’t noticed by yet, Ethereum is very focused on providing some open source and free to download information to the public. This has attracted the attention of thousands of nonprofit organizations. The non profit movement is truly one that is uncomparable.
We can see huge growth over the last couple years with the internet community and nonprofits; with things such as GoFundMe, and so on it’s hard to ignore these platforms as they’re being released so frequently. Ethereum has a big movement that involves releasing open source coding as well, which involves having straight transparency in the development of whatever it is that they are building or creating.
Blockchain and Ethereum developers
Developers of Ethereum are also sharing tidbits of information in their code as to help developers get used to blockchain associated technologies as well. People have been learning this for years and have seen incredible growth over the past couple years. People are always contributing to this nonprofit movement as well which is an inspiring thing to see as well. People are always contributing to the organizations that are strictly for non profit purposes and the community surrounding Ethereum is unlike we’ve ever seen before; the sense of friendship and camaraderie is great and inspiring to others. If you look on websites such as GitHub, there are tons of free code available that you can freely download and look through to see what the community is up to in terms of developing blockchain technology.
There’s lots to be developed and explored upon in the sense of code, so I can only imagine what will be done. We will be able to see a truly friendly environment emerge with the Ethereum based platform and more will be to come in terms of charities and such.
As with most other cryptocurrencies, Ethereum has been at a stable fight to obtain the top spot in the crypto scene and obtain dominance over the others.
This is led by the concept and ideology that the crypto that is in the lead will essentially lead to the most capital that is obtained and rewarded to the owner. The overall name of the game is essentially to make the largest volume and to adapt to the largest overall market. With the most market cap and volume overall, Ethereum would lead to a dominance in the crypto market. However, at this moment, it’s not there yet and still has growing room to do before it attains that spot as well.
In order for Ethereum to become a dominant and possibly the dominant cryptocurrency, there are some aspects that Ethereum and Ether needs to improve upon before becoming the top dog. Ethereum has technological aspects to it that make it one of the dominating currencies, but there are some flaws as well; all miners are not focused on Ether at this moment. Ethereum is truly, at the core of it, not the most importantly and held to highest regard currency that is being mined on the blockchain.
At the moment, miners are computer scientists alike are focused on mining Bitcoin mainly for its profitability ratio. Bitcoin has the currently highest profitability ratio in comparison to other cryptocurrencies meaning if miners allocate their power to Bitcoin rather than Ether, they get more money out of it essentially. If Ethereum wishes to be the most mined currency, it has to increase its profitability ratio which is done through the developer end of things. Additionally, Ethereum has to start becoming adapted into everyday society to attain a level of superiority over other cryptos.
Right now, Bitcoin seems to be dominating that scene being available for payment at select stores, and in order to follow Ether needs to be similar.
One of the hardest battles that Ethereum has to face in the modern day era, is the negative stimulus that surrounds cryptocurrencies, and the negative connotation it unfortunately has.
Possibilities with Ethereum
Ethereum has an extreme amount of power, large enough power as to be largely used as anonymous currency that is sometimes used as anonymous purchases of online illegal items. This gives it’s negative connotation, however in reality it should not at all, in fact it should give it a positive stimulus for multiple reasons: if a currency is able to serve as an anonymous form of payment as to be untraceable in the underground online market, imagine the possibilities it serves in the aboveground online market? Many companies and development teams have already started with this idea and have created aboveground markets in which the sender and receiver are publicly available in the ledger but anonymized in identity.
The proof of transaction is available there, but there is essentially no proof of who made the payment. This gives lots of space for consumers of all types to get the anonymity they deserve in the public era. Public purchases would be made anonymous and therefore there wouldn’t be a sense of “surveilence” when making purchase online. In addition, money doesn’t have to be spent through the blockchain network, transactions can just be made as to that it’s simply sending and receiving money from a person halfway across the globe to halfway across the globe.
People have more than commonly attached Ethereum to this negative connotation that separates it from a fiat currency, however this may just be because the regular fiat users fear change and what cryptos can actually bring to the table. To defeat the stigma that surrounds Ethereum in all, all it has to do is ignore this stigma, as its technology and capability will explain itself.
As it is commonly noticed, in today’s development world, the development and crypto world has began to combine with one another and start to mold into themselves respectively.
Combine with another
The reason for this is because cryptocurrency is very useful and can be utilized for important processes that regular fiat currency can’t serve to please in the regular development and programming world. Cryptocurrency and Ethereum specifically has a lot of ways that it can begin to incorporate great additions and make huge milestones in terms of programming and development. These processes are very, at this time, tedious and require a lot of manpower in addition to other things such as licenses, fees, and so on.
Ethereum allows this gap to be bridged as with Ethereum, including it into your applications, websites, and different coding process does not require an obstructing amount of licenses and regulatory agreements to include it in your development. Now, start up companies and development teams who wish to add some form of currency to their creation and add some sort of fiat non-licensed thing, can now do so without going through the hassle that is usually associated with it. Using Ether as the form of payment and as a currency in your creation is a lot easier than one might think. You can now easily implement the currency with Solidity, Ethereum’s very own coding language.
This way, Ether and Ethereum can be directly linked almost instantly to one another through the code. This is revolutionary because previously you had to go through lots of barriers and obstacles before being allowed to implement currency into your code.
Now, you can do it almost instantly with Solidity and other third party features. Ethereum in applications and websites is being more advanced by the day, and has shown some extreme promise.
Ethereum is without a doubt a useful currency, and has shown some extreme promise that it will continue to grow and use future updates as ways of growing in speed and usefulness.
One of the industries that Ethereum has been pulled into and is currently being researched and attempted to implement into further development is actually the gambling world. Ether has been used as main research points for many developers and general society alike, however the gambling world has huge potential to incorporate Ether into it. The online gambling world as of right now is in a bit of turmoil as there’s really not that much you can win without running into huge regulations, fees, required licenses, and multiple things like that just to name a few.
Integrate smart contracts with gambling
Ethereum offers a safe haven for gamblers as with its integrated smart contract feature, it can turn out to be one of the biggest technologies in the world. The gambling industry is already huge but poses threats of suffering as it has some huge flaws that can be taken advantage of. Companies are really the ones profiting and at the end of the day, gamblers may feel that it’s not even worth it to play as even with limited winnings, they still run into commision fees, rig, and so on.
Worth to play?
The winnings aren’t even huge amounts that are worth it to play. Enter Ethereum and its Ether platform where developers can in real time create their own smart contracts that are backed and legitimized with the PoW sentiment in the blockchain.
This way people can literally create their own smart contracts that can serve as rules for a gambling platform. Gambling winnings can also be instantly withdrawn and not have to go through tons of fees and such to just get back to your wallet.
Ethereum was initially regarded as a bubble just like pretty much all cryptocurrencies. It was seen as just a fad that people were jumping on and didn’t even really look that deep into the technology.
The potential that it has is truly amazing though and companies are now beginning to realize its actual power. As Ethereum grows, so does the aura around it and the potential tomake some huge moves as its market cap is now recently reaching major companies in terms of accumulating volume.
The volume of Ethereum is exponentially increasing and doesn’t show any signs of stopping, and as the volume and market cap reaches the potential of other actual companies that are in its range, it shows that the increasing averages are revolutionary. If we take a look at PayPal’s current volume and market cap, which was recently surpassed by Bitcoin, it shows over 10 years of progressive movement and 10 years of a company accumulating interest in foreign investors and such from around the world to create a company that is globally utilized and known.
New rates and highs
However, Ethereum has grown to new rates and new highs that have previously never been attained by any cryptocurrency, nonetheless any company in itself. Ethereum is growing faster than most big blue chip companies and has shown extreme promise in its ability to keep a growing volume and market cap.
There’s a lot of positivity surrounding the Ethereum based world and there should be lots more to come. Just the fact alone that it has surpassed major companies in volume is positive news which means positive prices, respectively. Hopefully, we see this growth continue.
Although commonly for some reason regarded as Bitcoin’s main competitor and as being a threat to Bitcoin’s sole status, and even being overcome by Bitcoin, Ethereum actually works cooperatively with Bitcoin in many ways.
For starters, Ethereum prices usually increase alongside Bitcoin and increment alongside Bitcoin and the cryptomarket. As the cryptomarket grows so does Ethereum in a way. Ethereum can be looked at in a way as a support for Bitcoin. In some ways, yes Ethereum is a competitor for Bitcoin. They are both in a way looking for dominance in the crypto market whether they are passively or directly doing so. However, together they pose as a very bullish and positive force for the “crypto” aura.
Crypto´s grows with each other
Cryptocurrencies, grow with each other in many cases but also sway in terms of one another in other dilemmas as well. For example, if there’s positive news on the cryptocurrency side of things, generally most if not all crypto’s will show some sort of positive increase amongst one another. They will generally increase alongside one another. But let’s say there’s some bad news that states that Bitcoin and Ethereum are negatively impacting society. Generally, they will work alongside each other in finding negative price gaps.
Ethereum don´t compete with others
Ethereum has stated themselves as well that they do not wish to compete against Bitcoin, as they are a form of technology, not competing stocks. Ethereum works on the blockchain, just like Bitcoin, so therefore both of their technological progress is mutually beneficial to one another.
In many ways unknown and unseen to the common eye, Ethereum and Bitcoin coincidingly work together to benefit one another and provide security increases. They are great technologies that shouldn’t be seen as competitors but rather as friends in a way.
A major focus that Ethereum wants to focus on in their development, along with the initiation of smart contracts and technological adaptation into society, is to enable decentralization.
No ruler of funds
Ethereum wants to establish a cryptocurrency that is completely decentralized with no real ruler or person to be in control of the funds. Along with serving as a currency front, Ethereum is also a technological platform to which applications and websites can be built upon. The concept of decentralization and Ethereum is beautiful and holds many possibilities for the future to come, as companies that range from social media to shopping outlets are looking at the blockchain, and the Ethereum platform to host their ideas.
Ethereum and the blockchain can serve extreme importance in various ways; for starters, a decentralized application and website means that nothing can virtually be hacked, but in essence as well, it means that from the main view, it is safe and secure for people to submit their ideas and beliefs freely. It means there is a very limited amount of space for people to provide intruding information, to provide racist comments, and so on. The decentralized aspect of Ethereum really opens doors to hundreds of new possibilities and to an incredible amount of platforms or applications. Imagine applications that ran decentralized in the modern era; imagine Facebook running decentralized. This would mean instead of stacking up on security costs they could utilize those expenses to more important areas with the addition of blockchain integration, nothing would be hackable.
Ethereum offers a safe haven for data holders as well and incredible possibilities in the data area. Data could literally be decentralized compared to centralized data that is circulating the cloudsphere each day.
If you’ve ever had a conversation with an investor who has been around for a while about the cryptocurrency market and what it would potentially turn into, they will generally have 2 main moods about: they will seem intrigued and want to learn more, or they will write it off as a bubble. But what the entire community of crypto traders and investors are seeing recently is that these same investors are now doubling their thoughts on what they initially believed about the crypto and changing their minds on it.
An example – Mark Cuban
Let’s take for example Mark Cuban, arguably one of the most successful investors and best people at choosing companies and areas to invest in that flourish. With the initial news of Bitcoin and Ethereum’s all time high success, Cuban wrote off the price increase as a supposed bubble. He said that when people were making easy money like that, it most likely leads to it being a bubble. There seemed a change in his mind however, when Ethereum and Bitcoin did not falter and stayed at the top of where there were investors. Mark Cuban changed his mind about the cryptos and said that he was initially wrong about it being a bubble. He then continued to back $20 Million into a venture cryptocurrency fund.
Investing old money
This showed that the people with the label of “Old Money”, money that has been in circulation for a while, should maybe look at the crypto market with an open eye, and have a more broad view of its possibilities. Although it is a very volatile market and there is no guarantees, it has shown promise and it has shown that the technology behind it could grow to huge amounts and reach unprecedented amounts.
We don’t know for sure, but the future is definitely bright in the crypto scene as of right now. Stock investors have started to flock to cryptos as well because they are very intriguing and the technology Ethereum provides is revolutionary to say the least.
Looking at cryptocurrencies in the terms of investment options and having value in the long term, we can definite see the two main options as being Bitcoin and Ethereum. Both have shown promising futures and have lots of room for growing in the near future. We can look at the two and say they definitely have their own perks and some have advantages over the others.
A common question asked in the area of these currencies however, is if you own one
should you own the other? If you own Bitcoin, should you own Ethereum?
The answer can’t be answered simply by one person and has truly a lot of answers to it overall. It all depends on whether or not you believe in the technology and what it presents overall. If you believe in Bitcoin and solely Bitcoin, then invest your time and funds into Bitcoin. However, there are many perks for Ethereum and owning Ethereum in addition to Bitcoin as well. If you already own Bitcoin, the question may arise frequently to whether or not you should additionally buy Ethereum. If we look at the chart for Ethereum, there is an extremely positive increase that is shown. There’s tons of room to grow, and lots of tech that is basing its foundation on Ether as well. Bitcoin is a portion of the crypto market, and Ethereum has a lot of positives that it could hold in addition to being bought with Bitcoin. Both have highly positive aspects to them, and if you believe in Bitcoin you should have some belief in Ethereum as well.
Ethereum has a great foundation that is similar to Bitcoin, but Ethereum is lower priced and has some more room to grow even further. Nothing is guaranteed, but there’s positivity around Ethereum and its current market.
Ethereum has the goal in mind to become a dominant cryptocurrency, so eventually the goal behind it is to attain a level of usability that it won’t even have to be converted to cash, but as of right now that is not the case and fiat currency is important to know and how to manoeuvre it is even more important in the Ether market.
Ethereum runs off of the blockchain very similarly to Bitcoin in the sense that it is always changing and evolving. Its technology is incredible and holds value simply by being a form of currency and technology. So let’s say you have an extra amount of Ether that you feel you would like to convert into cash. This can vary for many reasons, but the main reason is you just simply want to convert the currency into liquid cash for some purchases after obtaining some very nice gains on your investment.
Ether into cash
Turning Ether into cash is very similar in the process of turning Bitcoin into cash, since they are both cryptocurrencies they run hand in hand in that same sense. Turning it into cash can actually be somewhat easier than one might think. The process behind is that you must sell your Ether for cash, through some sort of exchange or market. This can be done on various exchanges, but one of the most common methods is to go through Bitdenex which gives you many tools to assist you in the process.
Once the Ether is sold you can similarly create a transfer to your bank usually in exchange for the cash. Also, you can establish P2P transactions which work similarly to meeting the person in real life, sending Ether to their wallet, and receiving their cash in exchange for the transaction.