Review on Ethereum by gregori cordova
a great project in the search to position itself in the first place in the cryptocurrency market.
Ethereum was created from the beginning as the number 1 rival of bitcoin, and to date it continues growing. It was created with the same characteristics of bitcoin but with very significant advances since it has taken the concept of blockchain further.
It was a pioneering project in smart contract technology that allows users to sign agreements without the need for a third party. That was undoubtedly the most competitive feature of ethereum, and that allowed it to rise more than 10,000% in the market price in just a couple of years and controlled the market dominance that bitcoin had from 87%.
Ethereum also brought with it the term decentralized applications, or dapps as we commonly know them, a feature that offers developers the most appropriate tools to create decentralized applications that practically work without any control mechanism. Another of the strong features of the ethereum network is that it allows developers to create utility tokens or erc20 tokens which are coins created by decentralized applications and can be stored in any ethereum compatible wallet.
Pros
- the exponential growth that it has had since its creation in 2015 and that has led it to position itself as the second most important cryptocurrency in terms of market capitalization.
- There is no maximum limit on ethereum, as with bitcoin. an advantage that will undoubtedly increase its price in the future
- It allows the creation of smart contracts with a much more advanced technology than bitcoin.
- smart contracts are one of the most competitive advantages of the ethereum network, since the presence of a third party is not necessary, which makes them highly secure.
Cons
- Its most prominent feature, smart contracts, can be flawed as they are written by people.
- the ethereum blockchain is very slow when there are a large number of applications using its virtual machine.
