Ethereum Currency – Is the #1 cryptocurrency based on an open-source, public, digital blockchain platform. Discover everything about the ethereum virtual machine, plus, current ethereum stock price. Ethereum Currency is also known as the ether currency!
What Is the Ethereum Currency
Ether is a digital currency used to execute intelligent contracts on the ethereum currency network. As with bitcoins, the Ethereum network and the ether tokens are not controlled or issued by any bank or government, this is an open network managed by its users.
Is ethereum currency safe?
The ethereum currency involves several stages of implementation. Currently the Ethereum project is in the second phase, called "Homestead". In the chronological order, the 4 phases planned for the growth of the Ethereum currency network are: Frontier, Homestead, Metropolis and Serenity.
Ethereum Homestead clients are working properly after being in beta for several months without any serious accidents. However, Ethereum technology is still experimental. Because it allows programs to run on a virtual machine, something can go wrong, for example in the case of badly written smart contracts and containing errors.
Why use ethereum?
Bitcoin usage allows you to participate in a global financial network, but ethereum currency allows you to access a global computing network. This is possible through smart contracts, i.e. code scripts distributed in the Ethereum Block chain. Although they are part of an unconventional technology, intelligent contracts can be used in a wide range of possible diverse applications, such as electoral voting, supply chains, medical records, financial systems, and other fields not yet determined.
Is Etherum currency tied to the dollar value?
The value of the etherum currency is not tied or anchored to any currency. Similarly to shares or property, the value of the ethereum is determined by demand and supply on an open market. The price of the ethereum currency changes in real time based on the number of those who want to buy or sell at a given time.
Why does the Ethereum change value?
Ethereum currency is traded with bitcoin, dollars, Euros, yen and other real-time currencies 24 hours a day. Depending on the purchase or sale of ethereals, the price may fluctuate from one day to the next. It is similar to how the value of shares or property rises or falls according to the law of supply and demand. The value of the ecterum currency can be unstable with respect to currencies such as the US dollar, as it is still an emerging technology with a relatively small liquidity pool.
Is the Ethereum similar to a credit card or PayPal?
The Ethereum currency operates in a similar way to the bitcoin network, in the sense that it allows users to send and receive tokens representing values in an open network.
However, the main purpose of the Eteerum currency is not to coin, but to allow smart contracts to run.
Ethereum (ETH) is a decentralized platform that is based on smart contracts. Ethereum currency also has its own blockchain, like the other crypto values, but unlike the others on Ethereum; it is possible to use its own token (the Ether) for value transfers or other assets. In order to use the ethereum peer-to-peer network, contracts based on it have to pay in Ether, which serves both as cryptographic but also "gas" for those who want to create DAPPs.
The Ethereum was founded by Vitalik Buterin and officially released on July 20, 2015.
Here is a list of the main differences that exist between the Ethereum currency and Bitcoin:
• Ethereum Currency does not have a fixed limit on the maximum amount of tokens on the market. It is expected that Ether will continue to be mined in the future, but the rate has not yet been set.
• Ethereum Currency does not expect a block reward half-rate; miners will receive the same amount of Ether for each block solved forever.
• The resolution time of a block is 12 seconds, while the average Bitcoin network time is 10 minutes. Ethereum Currency can boast a substantially lower resolution time thanks to the Ghost protocol.
• Ethereum Currency actually discourages the creation of mining pools through the Ghost protocol reward mechanism. There is no benefit for those who miss the pool in terms of block propagation.
Regarding Ethereum's performance on the exchange market, we must point out how this has been established in 2016, reaching second place as a capitalization behind Bitcon.
Ethereum Currency is to be considered the first alternative to Bitcoin also for the interest that has recently been created around this crypt. Ethereum has been invested not only by start-ups, but also by banks and institutional investors who are spending a lot on it thanks to the flexibility provided by their own protocol.