Review on Ethereum by Emily Johnson

Asking me to write a review on the Ethereum project is like asking me to give a complete detail on how my journey in the crypto space began. The Ethereum blockchain happened to be the first blockchain I got exposed to. This is because as at the time I got into the crypto space myself and my fellow crypto traders saw the Ethereum blockchain as the best (this is before BSC became popular and before the high transaction fee on the Ethereum blockchain network). This makes the Ethereum blockchain the bedrock on which my foundation in the crypto space was built. Writing a review on the Ethereum project is nothing less than my personal experience with in the project. This is because I have completed quite a lot of transactions on the Ethereum blockchain and have known some people who have their projects built on this blockchain network.

To give a complete detail and correct information about the Ethereum project, I will start by giving a brief overview about the Foundation of this blockchain network. The Ethereum we all know and celebrate today was founded in the year 2015, in the month of July precisely. Taking a glance at the history of Ethereum, I begin to agree to the fact that the success of a project isn't determined by the year it was established or founded. Taking a look at a Ethereum for example, it was established in the year 2015 while Bitcoin in the year 2009 yet, Ethereum seems to be the next popular coin on the block chain network (with Bitcoin being the first). Does that mean no crypto project were being established between the years of 2009 to 2015? Of course there were many projects that were established between these years but most of them weren't that popular before the arrival of Ethereum. The Ethereum project was established by a group of persons who were classified as some crypto enthusiasts but today, the founder of Ethereum is generally known as Vitalik Buterin. The initial price of Ethereum started at about 2.7 USD (United States Dollars). Although this price seems to be varied as some other sites claims it started at 2.8 USD, I still feel leaving it at about 2.7 USD is a good one. The price of Ethereum has been able to grow on an annual basis as its price was above 300 USD in the year 2020 and today, the price of Ethereum is about 3,230 USD (as at the time of making this review ready for publishing). This significant growth in price seems to be quite fascinating and this happens to be a significant reason why I have been able to develop interest in the project and today, I'm an holder of the coin along with some others.

Taking the question of price away, I would be moving on to the next feature I have on my mind to talk about in relation to Ethereum. Taking a close look at Bitcoin first, we all know how dominating this coin is, having more than 40% of the total market cap (and this is fastly approaching 50%). Looking at this statistics, one might be curious (in this case, my readers ) and that seems to be the exact solution I'm providing in this review. Bitcoin, as we all know, is the first cryptocurrency that was ever established, as a matter of fact, it brought the story of cryptocurrencies to us. This clearly states the reason why it's dominating the market. Bitcoin have been known by crypto traders since the year 2009, what else would you expect if not dominance? Taking a look at Ethereum, it was integrated after the emergence of Bitcoin and I guess the founders of Ethereum clearly looked at some mistakes or some things the Bitcoin project lacked and made it available in the Ethereum project and also added extras, some of which I'm not too comfortable about. Listing these features in numbers would make things clearer for readers, I guess.

1. The first one on my list today is speed. The world we live in today experiences advancement on a daily basis. Some of these advancements are focused on making things easier and one of the means of making things easier is by increasing the speed at which things are done. Ethereum seems to have noticed that and have integrated it in their project. With this, the Ethereum network is known for its "3 seconds transaction time." As at the time of making my first transaction on the blockchain network, some years back, I was expecting to wait for about 2 to 3 minutes only to get my transaction fully executed in less than a minute.



2. The next one I would talk about is "coin Burning." We all know of the recent announcement relating to Ethereum, which simultaneously happens to be the reason why this competition was held. The announcement clearly stated that some Ethereum would be burnt, these Ethereum were said to be worth millions of dollars. The major reason for doing this is to help increase the value of Ethereum. We all know that coin Burning has always helped to increase the value of the project involved. Let's just hope it affects the value of Ethereum positively too. Wait a minute, it has already started affecting the price of Ethereum positively as is seen in the value of Ethereum today. A crypto analyst once said and I quote "in few years time, Ethereum would be worth more than Bitcoin."



3. Gas Fees: This feature don't seem to be a positive feature, unlike the rest of the features. Notwithstanding, I have decided to mention it in my review as I feel my review wouldn't be complete without mentioning both the positive and negative sides of the project. I'm sure that must have been the reason why the Revain platform has both the Pros and Cons sections. Not minding how great the Ethereum blockchain is, the fees charged makes it not too convenient for people to build on the Ethereum blockchain network. This has been the reason why many projects are being built on the Binance Smart Chain (BSC) before being bridged to the Ethereum network. While many people seems to believe that the "Ethereum London Upgrade" might have an effect on the fees charged on the Ethereum network, I personally don't believe that. One thing I'm quite sure about the upgrade is the fact that it would affect, positively, the price of Ethereum. The effects seems to be visible already as Ethereum, even in the midst of recovering from the dip, is already experiencing a great increase in value.



As a means of bringing my review to an end, I would like to implore those in charge of Ethereum (not minding the fact that it's decentralized, there are still some people in charge of it) to try working on the fees so as to bring developers and traders closer to the Ethereum blockchain network.