The Difference Between ether and bitcoins - Lockdown - How to invest wisely and make money

Breaking

Invest legally, how to invest cryptocurrencies in trading platforms with Stop Loss and Limit, OCO Orders, receive harassment calls with treachery.

The Difference Between ether and bitcoins

If you have heard about the recent high price rise in the value of ether, you may also have heard about the new decentralized autonomous system, called Ethereum. What is Ethereum? It is an open source platform that consists of a scripting language, a smart contract platform and a virtual machine. 


There are different projects based on this open source project including the likes of Waves, Vitalik Buterin and the creators of Litecoin, irdrop and FAP Turbo. These projects are working towards providing the world with a robust technology that will provide the backbone for a currency.


Ethereum

The reason why people are investing in ether is because of its unique characteristics. 

Unlike other technologies like the gold or silver, digital currency is not backed by precious metals. Therefore, it provides an environment in which anyone, anywhere in the world can run applications on it. What makes this ethereal platform very attractive is its scalability factor.


Unlike other technologies like the gold and silver, the digital currency does not have a physical commodity. This makes it vulnerable to attacks by hackers and thieves. However, ethereal's developers are working around this weakness by utilizing their own decentralized system to guarantee that the network is safe. By creating a series of smart contracts, the investors of ether are able to lock the asset to ensure its safe transfer and ownership.


The smart contracts are run by ethereal's users. 

This is different from the way the function. When you use the bitcoins, you can actually dictate how the distribution of the money will be done. You don't need to rely on a third party or a company. The distribution of ether transactions happens between two parties only - the buyer of a ether transaction and the seller of an ether transaction.


This distribution method is different from the other two major blockchains - the bitcoin and the ethereal. The difference is that there is no central administrator in the case of the ethereal network. The decentralized aspect makes it distinct from both the previous two blockchains. Since there is no single entity controlling the transactions, the currencies of different users can be bought or sold at any given point of time. This makes it a popular choice for tokens such as eacs. While bitcoins are highly concentrated in the hands of a few people, ether tends to be distributed according to the wishes of many users.


However, one must not forget the originality of the digital money. 

Unlike the previous networks, the Ethereum network has an open source for its users. This means that the developers have the full right to change the source code of the protocol if they want to. This feature of the ethereal platform makes it different from the bitcoin. In fact, there is already a lot of news about Ethiopia's plans to adapt the bitcoin's protocol for their digital money.


With the help of smart contracts, the network of the ethereal will be able to offer secure and user friendly applications. In fact, these are the main reasons why more businesses are opting for the ethereal network. Since these contracts are secured by the users' computers, there is no chance of hacking the information stored on these computers. This means that any information that is sent or received by the user will be completely safe and confidential.


As long as the network of the Ethereum grows and becomes more popular, it will continue to compete against the bitcoin. In the end, the winner will be the one that manages to provide better services and make more profits for its users. For now, the market cap of both the chains is relatively low, but the ether has shown a great potential to surpass the former. Right now, there are many reasons to invest in ether, but only time will tell whether or not it will exceed the bitcoins.


No comments:

Post a Comment