Over the last two years, Ethereum has become the second most widely accepted digital currency, flourishing in value and inspiring the rise of hundreds of new rivals to Bitcoin. Apart from being a tradable currency, Ethereum is known for implementation of smart contracts and other computer applications.
Ethereum origin and growth
Ethereum’s currency, Ether was launched in 2015 and there was a significant and rapid growth in its value. In December 2017, it suffered a setback, suddenly dropping from $850 to around $690 – a fall of about 20 per cent. From the beginning of 2018 it has shown intense volatility, hitting highs of $1400 in January before slumping to less than $750.
Ethereum and its Production
Like Bitcoin, Ethereum is also a decentralized blockchain network. Just like the production of bitcoins, ether (Ethereum’s Currency) is also produced as the incentive provided to miners and to developers to keep the Ethereum network safe and efficient.
Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications. Its currency Ether was created as a payment method for some applications. In the boom of Bitcoin and other similar cryptocurrencies, Ether also grown rapidly and currency traders began buying and selling it for investment purposes.
Applications of Ethereum Network
Rather than just hosting a cryptocurrency, Ethereum’s network also allows computer applications to run on it. Ethereum enables developers to build and deploy decentralized applications much easier and efficient than ever before. Instead of having to build an entirely original block chain for each new application, Ethereum enables the development of potentially thousands of different applications all on one platform.
Ethereum is known for implementation of smart contracts. Smart contracts represent applications that have their file stored in the Ethereum blockchain and they can serve various purposes, including facilitating, verifying or enforcing the performance or negotiation of a certain contract.
Any services that are centralized can be decentralized using Ethereum.
Buying, Selling and Trading Ether
Ether can also buy, sell and trade for fiat currency as well as other cryptocurrencies via CryptoExchange platforms.
Apart from buying in a traditional way many people prefer CFD trading for Ethereum. A reason they say is that it is not always easy to sell Ethereum, some Ether transactions take time to process. With CFD you can open and close positions almost instantaneously since there is no actual buying.
According to some experts, Ethereum purchase may be suitable for those who are looking for medium and long-term opportunities, while CFD trading may be more suitable for short-term operations.
If you are thinking about an investment in Ethereum. There is an easy and simple way to create an account.
Just Sign up for your Account on AAATrade CryptoExchange platform.
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