Ethereum

Ethereum is predicated on blockchain technology. The concept of a decentralized Internet is critical to understanding what Ethereum is. This cryptocurrency was designed expressly to replace companies that own servers and cloud storage facilities that monitor and store data, track financial instruments and the like. Like many other blockchain technology services, Ethereum is geared towards the creation of a huge global network of nodes. These nodes are managed by volunteers around the world. Ethereum intends to return control of data to the owner of that data.

For those who understand Bitcoin at a basic level, Ethereum is fashioned off a similar concept. The technical differences between these two digital currencies is stark however. They are different in terms of capability and purpose. The blockchain that supports Ethereum is capable of running any decentralized programming code, while the Bitcoin blockchain only tracks BTC. Ether is mined in the Ethereum blockchain and this is how the network is powered. This platform for decentralized apps has rapidly grown since March 2016. Its market capitalization peaked at over $1 billion, but it remains a hot contender for the top 3 digital currencies.

Trading Ether (ETH)

Some of the benefits of this blockchain technology include zero downtime, high resistance to third-party attacks, and no possibility of human disruption of the process. Unlike BTC, Ethereum digital tokens are not fixed. It is a decentralized blockchain that people feel comfortable using. The platform offers smart contract functionality, and was released in July 2015. On inception, 11.9 million Ethereum digital coins were released. By June 2017, the value of ETH rose over $400, for a 5000% appreciation since January 1, 2017. The supply of ETH in 2017 is expected to increase by 14.75%, and will drop off to just 1.59% in 2065.