Most flexible cryptocurrency, which ranks second most popular and the most revolutionary one in the world.
The creators of Ethereum (abbreviated as ETH) chased the standard aims for the authors of cryptocurrencies improving Bitcoin. Unlike other cryptocurrencies, the authors don’t limit the role of ether to payments, but offer it, for example, as means for exchanging resources or registering transactions with assets using smart contracts.
ETH platform is designed to create and operate decentralized applications based on the blockchain using smart contracts (computer algorithms that ensure the holding of contracts within the blockchain, designed so that the holding of a certain action occurs only when certain conditions are met). The platform allows you to create decentralized projects on the blockchain, starting from charitable foundations, and ending with sports betting applications or poker rooms. At the same time, the platform is open, so everyone can get access to it.
Due to the technology, a person may register any transactions with any assets, which are based on a distributed database of contracts, without resorting to traditional legal procedures. Starting a personal blockchain project based on Ethereum is quite simple and relatively inexpensive. It is characteristic that ETH platform accepts any programming language, including visual programming languages, that makes it so universal and flexible.
The functionality of ETH network allows to: Run smart contracts of increased complexity for managing logistics chains. Create applications of any type (games, utilities, etc.). Digitize physical assets (oil, gold, precious stones, industrial goods). Manage clients identification and document authentication services. This text is from community cryptodefix.com. Set up decentralized trading platforms.
- The cryptocurrency boom of 2016-2017 is associated with the foundation and popularization of ETH.
- The new environment allowed to maximize the blockchain efficiency and gave a boost to initiate new startups and projects, which in turn attracted huge investments.
- Large businesses are interested in the possibilities of the ETH network, and the global EEA (Enterprise Ethereum Alliance) community has already been created. Its structure includes 19 technical, industrial and legal advisory groups. EEA members are 250 companies from 45 countries, including: Microsoft, JP Morgan, Intel, Sberbank.
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