Review on Ethereum by Praise Olagbadun
Ethereum, The Bitcoin Offspring
The cryptocurrencies are gradually making their names in our present world. With many other projects coming up, in the nearest future we would be cryptocurrency-driven. But all these new projects all originated from already existing ones which serve as a guide to building projects with the best of services to offer their users. These cryptocurrencies are mainly Bitcoin and Ethereum. The Ethereum tends to be the project that serves as a more-sure guideline to building new projects due to the fact that they create a more robust blockchain than the Bitcoin project. They also allow smart contracts and that makes them the host of major altcoins in the market, talking about the likes of Ethereum Classic (ETC) and all ERC-20, ERC-721 and ERC- 1155 tokens. These tokens have their system built under the Ethereum blockchain and most of them has had a rapid increase in all areas. This has made the Ethereum project to be attributed the title: Project Developer."
The great story of Ethereum started with the innovative idea that was born by Vitalik Buterin who happens to be a co-founder of the Bitcoin magazine, he lost interest in the Bitcoin project due to the fact that they utilized a non-flexible code which makes it impossible to have an Altcoin created under their blockchain network. This also made him gained enough experience he needed in starting the Ethereum project.
I presently trade Ethereum on my Bundle application but dislike something about it, Gas fees. The fact that transactions made with Ethereum consumes much of my Ethereum all in the name of payment for gas fees made me reduce the amount of Ethereum I trade. Presently, I hold Ethereum, so as to sell when the price goes up and buy when it falls. Most of my tracings and payments are either made with Trons or other cryptocurrencies that charges lesser than
Pros
- The Ethereum has been able to be the company behind many successful Altcoins today
- It has been able to created many smart contracts
- The Ethereum project shows a high level of improvement over Bitcoin, mainly due to the fact that the founder has gained working experience from Bitcoin
Cons
- Transactions made using the Ethereum cruptocurrency tends to consume much on Gas fees
- They are likely to suffer hacks soon (aside the ones they've encountered) mainly due to the fact that they have many projects built on their blockchain
- The fact that they have many projects on their blockchain makes their scalability affected
