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Lagos Nigeria
4 Level
327 Review
1780.75 Karma

Review on Ethereum by Adedayo Adeniji

Revainrating 5 out of 5

Ethereum a no downtime platform

Being an owner of its crypto and user of its blockchain, Ethereum is themost actively used blockchain and second-largest cryptocurrency in terms of market rating after Bitcoin and an open-source cryptocurrency ledger which is decentralized, it features functions of smart contract, it was officially released in 2015 and Ether is its native cryptocurrency.

Ethereum is a robust, trustworthy and revolutionary platform with solid security measures to cater for the inadequacies of bitcoin blockchain, it enables developers to design and issue their own cryptocurrencies.

It does not allow third party alteration of its data, its blockchain knows no downtime and it is hack and manipulation proof.

My experience with ethereum has been awesome and it is a beautiful and extremely secured platform to be.



Updated 3 years ago
Rating has not been changed

Ethereum which is the second most valued cryptocurrency across the globe recently made a giant strive in upgrading so as to solve the long lasting high transaction fees huge problem for artists, creators minting non-fungible tokens and developers building decentralized applications on the Ethereum cryptocurrency ledger.

The upgrade is named London Hard Fork which initiates a reduction in transaction fees on the Ethereum platform and brings forth a new way of mining Ethereum.

With the new initiative has caused the transaction fees estimation process to be handled automatically with a set of fee amount based on network congestion thereby making it the more predictable and every part of the transaction fee will be burned and correspondingly reducing the supply of Ether and an equivalent increase in its price.

So for you and me as users we will now pay a base fee, algorithmically determined by network use and could pay miners a tip to have it transacted faster and this change means the fee will now be more stable, with you and me being able to wait for a potentially lower price at a later time.

Pros
  • It is immutable
  • It is extremely secured
  • It is easy and friendly to use
  • It knows no downtime
Cons
  • Its programming language is highly complex

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