Review on Ethereum by Eunice Olagbadun
Ethereum one of the best cryptocurrency exchange platform I know
Ethereum which is a decentralized cryptocurrency exchange platform with smart contract functions enables me and other users to build decentralized applications and it also has its own coding language called solidity which encourages me and other developers to create new and exciting decentralized applications. My transaction with Ethereum has very secured and much more scalable than Bitcoin though Ethereum uses similar technology to Bitcoin but it is more advanced. One of the reasons I love Ethereum is because it is fast and user friendly thus making transactions easy and interesting for me though transactions can only take place when certain conditions are met.
Ether usually referred to as 'gas' is the currency of Ethereum which fuels the Ethereum system,each transaction on Ethereum needs a certain amount of 'gas' to get the job done. Ether doesn't leave the Ethereum blockchain so it isn't physically stored anywhere. One interesting I got to know about ether is that it can be bought from 3 main sources which are; Brokerages which are coin exchanges like coin base that enables me to buy and sell ether for a fee. Another source is trading platforms like Cexio connects me to buyers by using a middleman called cex which is what I use to trade one cryptocurrency for another. Last but not the least is peer to peer platforms like local Ethereum that allows me to contact with buyers directly to negotiate prices. Ethereum has made trading very easy for me because its not cumbersome.
Pros
- It is corruption proof
- It is very secure
- It has no downtime
- It is immutable
- It is fast and user friendly
- It is much more scalable than bitcoin
- It is decentralized
Cons
- It is volatile
- It is susceptible to vulnerabilities
