Cryptocurrency is now regarded as one of the most reliable currencies in the digital market. Widely used in the financial markets globally, it is the new trend as a medium of exchange. There are various online platforms that make it possible to transact business globally without a hitch, that is friendly, secure, fast and are detached from the normal global banking sector. One of the most notable online platforms that have eased the way online transactions are done is Ethereum(ETH).
Ethereum is a decentralized online computing platform that runs on scripting(smart) contracts. Ethereum was designed with the goal of creating an enabling environment and space for programmes to run without the disruptions of downtime, censorship, third party interference and or fraud. It is an online application decentralized from the usual cringe, risky and insecure online application networks. It cuts down the cost of middlemen allowing for cheap and easy transactions globally.
Goal Of Ethereum
The initial designer who conceptualized the idea of Ethereum wanted to create a platform with a specific scripting language to allow for application development. This was to allow for the ease in which online platforms could transact business without technical hitches, with efficiency and speed.
The initial idea of Ethereum was put forth by Vitalik Buterin in 2013, who as of then, was working under the bitcoin platform as a programmer and Cryptocurrency researcher. An online crowsale fund in mid-2014 is largely attributed to the provision of funds for the establishment of Ethereum. Ethereum was finally released to the public as a Blockchain app platform on 30th July 2015. The Ethereum team currently comprises of Vitalik Buterin, Mihai Alisie, Antony Di Iorio and Charles Hoskinson.
Ether is the online currency, the medium of exchange for Etherium. Ethereum decentralized apps( Dapps), over 250 in existence as of January 2018, are the platforms on which transactions are made on. The operating system is available for Windows, Linux, MacOS, POSIX, and Raspbian. A number of multinational established platforms have embraced Ether as a medium of currency to transact in addition to other available transactions mediums. From milestone to milestone, Ethereum has grown, with a number of better protocols being designed to make it a reputable and outstanding medium of exchange. It is easier to access Etherium, with the use of credit card, wire or cash.
Like any other online platform, Ethereum has faced legalities issues in some countries with no Cryptocurrency laws and regulations. Another notable challenge faced is the security of the platform, stability, and scalability amidst the challenging and often unpredictable online digital platforms.
Value Of Ethereum
Despite some of the challenges faced among online digital currency platforms, Etherium has maintained a steady modest market value since its inception. The current Etherium value is above $130. Compared to other Cryptocurrencies, this is a modest value, on a reliable and secure platform.
Cryptocurrency is here to stay, to challenge, change and revolutionize the online trading platforms making it easier, cheaper, quicker and secure to transact business online globally.