Review on Ethereum by Peace Ofem
ETHEREUM- THE BEDROCK TO OUR DIGITAL FUTURE
Ethereum rose in July 2015. It soon achieved fame as one of the most reputable tokens in/on the markets making it the second largest and most valuable cryptocurrency platform by market capitalization after bitcoin.
It is a global open source platform of distinct applications and money, because on it you can establish code that takes charge of digital value, which runs exactly as programmed and can be accessed anywhere in the world making it open to anyone needing just a wallet to partake in it.
Ethereum's unique peculiarity:
1. Development of its own coding language.
2. Unlike bitcoin which is limited to 21 million units, Ethers of Ethereum are
illimitable.
3. It allows for the exchange of goods, shares, money, properties and
anything that is of value in the network share.
4. Gives permission to builders to develop their choice of interactive
performances, however they want it in their smart contracts.
5. Ethereum is like a computing framework, that grants developers access to
build any application desired by them on one decentralized stage.
6. Can be used for different digital assets which makes it programmable.
7. Products are compatible by default giving rise to good products being
built all the time.
8. Commerce guarantees.
9. Peer to peer network.
10. Not owned by any company or government which makes it
possible for anyone to get payment or use its services.
Ethereum is a built technology behind the cryptocurrency Ether and thousands of applications one can have access to and use in the world today
Pros
- Ethereum system is open which encourages everybody from outside to join the project leading to community growth.
- It is not a self lock system giving way for the growth of other goods and services jointly with the ETH blockchain therefore making ETH grow continuously. the more it grows the more people invest in it
- It's transaction fees are lower.
- Great backing form business communities,
- Multiple users capacity
- Functions differently from other projects ( cryptocurrencies)
Cons
- code learning is difficult ( not easy)
- Too many platforms ( smart contracts generator, ledger, etc).
- Switching the system is not easy because if the change does not go smoothly the entire system can crash due to breakdowns.
- Inadequate tutorials which makes it difficult for beginners to work with the ETH blockchain.
