In this guide, I will explain what Ethereum is, why was it developed, and what is Lucrative ETH 2.0.
What is Ethereum?
Like Bitcoin, Ethereum (ETH) is a cryptocurrency that works on the blockchain. A programming language called Solidity is used to implement smart ETH contracts.
Since Ethereum uses blockchain technology to check and record transactions, it is decentralized. All users can publish applications on the Ethereum network and use these to make money.
User-created applications are known as dApps. Since Ether or ETH can be used as payment, Ethereum has grown to be the second most popular digital currency worldwide.
Why was Ethereum developed?
Ethereum was created so that developers could build applications and smart contracts without worrying about interruptions in production. Since it was launched in 2015, it’s also helped to protects them from fraud and third-party interference.
Secure and Versatile
Ethereum’s platform can be used to codify or trade almost anything. It can also be used to secure your project and is currently being tested widely in that regard.
ConsenSys and Microsoft have partnered to provide Ethereum Blockchain as a Service (EBaaS) on the Azure cloud. With EBaaS, enterprises and IT creatives will have access to a complete developer environment on the cloud.
Lucrative ETH 2.0
Several exchanges are staking on ETH 2.0. This is a lucrative strategy since ETH has a market share that is second only to Bitcoin and passed the 100 million circulation mark in 2018.
While there’s a limit to the number of Bitcoins that can be created, the number of ETH that can exist is virtually boundless. The upgrade to ETH 2.0 will allow the network to scale up, overcoming congestion problems caused by games such as Cryptokitties.
Ethereum’s competitive edge comes from the fact that it’s a programmable blockchain. Financial services and even apps like games can be created and traded on the network by using ETH.
Benefits and Disadvantages of Ethereum
Ethereum is an open-source platform, so developers can create applications for finance, entertainment, and many other sectors. They pay fees according to the amount of computational power required for their project making it easy for groups with different budgets to utilize the network.
ETH is only second to Bitcoin and its value keeps growing. Like other cryptocurrencies, it’s subject to the debate on whether the cryptocurrency bubble will burst and is a risky form of investment.