Though Ethereum's roots date back to 2013, when founder Vitalik Buterin released the Ethrereum white paper, Ethereum went mainstream in 2017 and has since claimed a top spot in the cryptocurrency charts.
Unlike other cryptocurrencies platforms, like Bitcoin and Dash, Ethereum was originally designed to supersede financial application usage. Instead, Buterin, with the help of Ethereum co-founders, built Ethereum to provide developers with a means to unlock the full potential of blockchain technology.
Since its fruition, the Ethereum network has been backed by major tech and banking companies, including J.P. Morgan, Chase, Microsoft, and Intel – the expectation that the security and decentralized nature of blockchain will allow for infinite applications in the future..
What does this have to do with cryptocurrency? The Etereum network runs on its own decentralized currency called ether (ETH), and this currency is used within the Ethereum platform to facilitate activities (e.g., building applications, engage in cloud activities, etc.). Essentially, ether is the token- based fuel that runs the Ethereum platform.
How does this translate to cryptocurrency? The Ethereum platform is home to the ether (ETH), which is the token used for currency on the growing platform. Since it’s mainstream introduction, the ether has experienced incredible growth, and as early 2018, the price of Ethereum increased by 13,000%. With so much long-term potential, it’s easy to see how some consider ether a worthy investment.
One of the major differences between ether and other cryptocurrencies is global use. Though currencies like Bitcoin and Dash can be used to pay for a variety of goods and services, ether does not currently have any typical commercial transaction merit.
Instead, ether’s value is limited to the Ethereum network, and those who have ether can use it to pay for applications and transactions within the network. However, that’s not to suggest there is no value. Many believe that Ethereum shows true potential in the form of decentralized data storage, democratic security (i.e., voter registration security), smart contracts, advanced healthcare systems, and even self- driving cars.
However, those who do want to use Ether for real-world transactions can always use it to purchase Bitcoin, Dash, or other forms of cryptocurrency.
Unlike traditional, centralized currencies, cryptocurrencies, including ether, are not physical coins or bills; instead, ether is a digital token or code snippet that lives within the blockchain. To use ether, you must have access to a specific address within the blockchain as well a private key – similar to the pin or password associated with your bank account.
This information is typically stored within a wallet (software, hardware, or paper document. Those who decide to invest in ether through xCoins will automatically gain access to an online wallet that can be used to safely and securely oversee manage, spend, or transfer ether within the Ethereum network.
In addition to using ether within the Ethereum network, the xCoin wallet also allows currency holders to convert their ether to other forms of cryptocurrency, like Bitcoin or Dash, both of which can be used to make purchases, pay bills, or process transactions with other individuals.
to find out how we have grown to over 50,000 crypto transactions and 75 Million US Dollars in currency exchanged. All of our Ether sales are performed by buyers using bank-issued Credit or Debit Cards. We include our transaction fee directly within the exchange rate you receive, so the number you see in our exchange calculator is the current price you will pay for Ethereum.
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They’re the two biggest cryptocurrencies on the block. Together, they have a combined market cap of over $160 Billion at time of writing. They’re Ethereum and bitcoin, the two blockchain projects you’ve almost certainly heard of even if you justread the full story