The founders received funds for the development of Ethereum through an ICO campaign. At the first stage, 18 million dollars were raised, after which many technology corporations, including IBM and Microsoft, took up financial support for the project. Today, various startups are invested from the Ethereum fund, because its ecosystem provides for crowdsales. The goal of the developers is to create a payment network that is relevant anywhere in the world.
Against Bitcoin
Altcoin, proposed by Vitalik Buterin, is significantly different from the main cryptocurrency. The emergence of smart contracts has aroused the interest of bankers and experts in various industries. This technology is a mathematical algorithm that makes sure that the obligations of the participants in the transaction are fulfilled. Funds are credited to the recipient’s account only in the case provided by the parties to the agreement. By automating transactions, the security of cooperation is guaranteed. Information about the result of the smart contract is entered into the distributed ledger. Thanks to Ethereum, a transparent cryptocurrency exchange procedure is provided.
Ethereum Benefits
Among the main advantages of altcoin:
- Small cost compared to Bitcoin;
- High speed and security of transactions;
- Decentralization of processes;
- Transparency of cooperation;
- Working with 4 programming languages;
- Prospects for further development.
A set of benefits increase the attractiveness of the Ethereum project. But “smart” contracts are written by people, so errors cannot be ruled out. Gaps in the code are a threat to the reliability of the contract.
Potential
The Ethereum exchange rate is a volatile value, but until the beginning of 2018, there was a positive trend. Today, the cryptocurrency has entered the stage of correction, but this procedure is predictable. At the time of writing, the price of digital coins exceeds $200, but in the future, a series of reforms in the network will lead to greater sustainability. In any case, the project was not created to ensure reliable storage of savings. But the project does not lose market attractiveness.
With the help of Ethereum, programmers from different countries are working to create unique platforms based on blockchain technology. Thanks to the innovative component, projects manage to attract financial support from institutional investors. You should not consider Ethereum as a competitor to the Bitcoin network. In the event of the collapse of the main cryptocurrency, nothing will prevent Mr. Buterin’s startup from expanding its sphere of influence. Corporations and small IT companies are implementing blockchain in their activities.
Acquisition procedure
Ethereum digital coins are offered on online platforms and exchangers, including the site Leoexchanger!
