Review on Ethereum by Temitope Babatunde
Ethereum Multi Useful Coin
Ethereum which is presently number two in terms of market capitalization among the cryptocurrencies was introduced to cryptocurrency market in 2015, though it was first proposed in 2013 by one of its co founder Vitali Buterin a researcher and programmer.
Ethereum is not just a coin but goes beyond that, it is an open source public service that uses blockchain technology to facilitate smart contract. It is highly decentralized and programmable, which means the developpers can write another application on it, that is why today all of erc20 tokens were written on the Ethereum smart contract.
Presently, it isis ethereum community that have the most active community among crypto communities, you can found among them the crypto economics researchers, dapp developers, gamers, artists etc.
Presently, it is ethereum community that have the most active and largest community among crypto communities, you can found among them the cryptoeconomics researchers, dapp developers, gamers, artists etc.
You can mine ethereum using power of stake(pos) and as against bitcoin the miner do not take block reward instead they take transactions fees. Lots of wallet support ethereum and can be found in many exchanges in most cases it as a base currency which means you can trade other coins against it.
Pros
- It can be use to transfer value, that is you can convert it to fiat and vise versa easily and send to another person without third-party.
- Compare with transfer wire and other method of transferring money the transaction fee is lower.
- A lot of other app can be built on it.
Cons
- It need gas before you can make transfer, like all tokens built on it require ethereum before you can send them to another address
- If there is congestion on the Ethereum network when you are transferring it the time it takes to get to the other party use to be longer.
