Review on Ethereum by Japheth Ayuba
The Pioneer of Smart Contract is the Ethereum
Tye Ethereum network was created purposely for the creation of immutable smart contracts which may be valued assets and non-fungible tokens. The ethereum ETH is another of the numerous altcoins in the crypto market and second must valuable asset in the crypto industry. The Ethereum Blockchain allows the creation of smart contracts which are immutable and the creation of this tokens on smart contracts can be tested freely on the Ethereum Testnet to analyze the project for vulnerabilities before the project is launched on the Ethereum mainnet for the general
The Ethereum Network uses a complicated integers of numbers and letters for it's address and the recent influx of Decentralized Finance Projects has led to the congestion of its network which has catapulted it's transaction fees up the roof. The Ethereum coin ETH is a mineable coin using the PoW and the upcoming launch of ethereum 2.0 will see the introduction of PoS to it's mining algorithm thereby achieving true decentralization and lesser possibility of a 51% attack
Ethereum today is widely accepted by developers,traders and investors alike all for their own personal benefits and who knows, might take over Bitcoin in due time
Pros
- The Ethereum network supports the creation of Tokens backed by smart contracts on its Blockchain and decentralized application
- There's a Testnet for it's developers to test their Creation free of charge before releasing it to the mainnet for the general public
- The Ethereum ether ETH is like the second most valuable asset in the crypto market and it can be accessed via many custodian wallets
Cons
- The recent congestion of decentralized finance projects has led to the network congestion leading to high fees
