Review on Ethereum by Carlos Figueroa
decentralized Dapps development network and smart contract issuance
One of the cryptocurrencies with the greatest impact on the crypto market, the Ethereum network encompassed with application development tools, smart contract issuance, and a virtual machine that supports any programming language, its co-founder Vitalik Buterin devised a currency that is accessible for the consumer and can offer opportunities for developers to take advantage of the network to start a business through the project.
With the upcoming arrival of the Ethereum 2.0 network update, which has been around for a while and is now needed more in order to solve the problems facing the network, many estimate a change that may be positive according to expert developers, according to the protocol change in said network, in which it is possible that more projects that are launched want to use Ethereum as a base, since usefully a large part of new projects fear a collapse in the Ethereum network that could harm the operation of the platforms affiliated with the network, such is the case cryptokitties, which is a decentralized application that managed to take more than 15% of the transactions on the Ethereum network causing congestion in the network, for which reason a large part of the crypto community expects a substantial change in the Ethereum network after its update
Pros
- Decentralized platform that allows application development and asset issuance.
- Pioneers in integrating smart contracts into the cryptocurrency market.
- The confirmation range is 10 times much faster than Bitcoin
- Any developer can run any sim program importing the program language thanks to the incorporation of the Ethereum virtual machine
- It is available from numerous renowned exchanges and wallets.
- Applications never crash and can never be stopped.
- Decentralization within the Ethereum ecosystem does not allow a third party will not be able to make data changes on the blockchain.
Cons
- The scalability within the Ethereum network is one of the main problems that has led it to overcome Bitcoin due to gas commissions due to network congestion.
- There have been flaws in the smart contract codes issued on the Ethereum network, which has produced notable losses in this currency.
