Ethereum is being touted as the next big hero in the cryptocurrency universe. After bitcoin’s value rocketed sky-high, people started to look for alternatives and the cryptocurrency ethereum is one of the best cryptocurrencies to invest in, at this point of time. If you are looking to buy ethereum, you need to first understand the concept behind ethereum and why ethereum is in the limelight these days.
At present, cryptocurrency enthusiasts are turning towards ethereum because of its appreciating value and economy compared to bitcoins. The second most valuable cryptocurrency, ethereum is similar to any other currency in terms of blockchain open-source programming but still ethereum has an edge over others. Ethereum is not only a currency but a programmable software platform. Also, ethereum blockchain is tamper-proof, non-alterable and the platform cannot be hacked.
Ethereum is attached to its currency block- ether (ETH) that is traded actively on many cryptocurrency trading platforms in the world. Unlike bitcoin, ethereum has varied uses and is not limited to just payments. It is being used to create other cryptocurrencies, computational platforms, etc. promising greater scope than other cryptocurrencies on the planet.
Ethereum was proposed by a cryptocurrency enthusiast, programmer and researcher- Vitalik Buterin in 2013. The development for software platform began in 2014 and a not for profit foundation was formed in Switzerland for development efforts. The cryptocurrency ethereum still remained totally decentralized and its development was funded through crowd sourcing and sale in August 2014. Participants of the sale bought ethereum tokens with other currencies and by 2014, 11.9 million coins were already pre-mined before the cryptocurrency actually became public for trade.
If you want to buy ethereum coin - ether or want to trade in ethereum, you can use a number of trading platforms and exchanges for the same. Ethereum has several advantages over other cryptocurrencies and many industry leaders such as Microsoft and JP Morgan have already pledged support for development of Ethereum platform. Ethereum offers better investment and growth opportunities over other struggling cryptocurrencies in the world. Already, ethereum has hit the peak owing to several factors. As ethereum has faster transaction confirmation, it is better to trade in ethereum, at present. If you wish to buy cryptocurrency ethereum with ease, you can use an ethereum exchange to buy ethereum online.
Major conglomerates like Microsoft and J.P Morgan have formed an alliance - The Enterprise Ethereum Alliance. Through this alliance, these companies have committed to support Ethereum development.
Ethereum transactions use time-stamping and encryption. Plus, the price of Ethereum is appreciating, which turns out to be a great investment opportunity.
The average block time of Ethereum is 10 minutes. Hence, transaction confirmations are faster. In fact, Ethereum boasts of one of the fastest transfers.