Many people in Miami have heard of Bitcoin but haven’t heard of other cryptocurrencies on the market. Most people want to buy Ethereum, but they aren’t sure what it is or why it’s essential. Ethereum uses a decentralized platform that uses smart contracts (applications that run as designed without censorship, downtime, fraud or interference by third parties). It’s been designed for developers so that they can create applications that represent value movement or ownership from one person/party to another. Plus, the smart contracts are coded into the blockchain, ensuring irrefutable terms for any agreements.
What’s Ether?
Now that you know what it is and what it does, you may wonder what Ether is and why people talk about it in conjunction with Ethereum. Ether is just the cryptocurrency that the Ethereum network uses. It’s different than other altcoins, including Bitcoin, as it wasn’t designed for financial transactions. Instead, it’s the fuel that powers the blockchain. Therefore, if you validate transactions or contribute to the blockchain development, you’re rewarded with Ether. Likewise, if you conduct particular operations on the blockchain, you have to pay Ether to do it.
The Benefits
Ethereum is a new technology and one of the most promising for investors. More and more people turn to it as their preferred cryptocurrency. It’s currently growing at a tremendous rate and is currently over $500.
Of course, long-term planning and analyzing shows that the currency should enter the thousands within a few short years; if you’re planning to invest in this cryptocurrency, now is definitely the time to do it.
Now is the time to buy Ethereum, especially if you want to invest in the digital currency called Ether.
