Let’s first understand what Ethereum actually is?
Ethereum is a decentralized platform that runs smart contracts, which are applications that run exactly as programmed without the possibility of downtime, censorship, fraud or third party interference. Ethereum has been specifically created for developers to create their own applications that can represent ownership or the movement of value from one party to another. Furthermore, it allows if-then type smart contracts to be coded onto the blockchain to create irrefutable terms for contractual agreements.
The potential use for this technology is vast and it has the potential to disrupt the status quo of a wide range of industries. Smart contracts can be created on the Ethereum blockchain to represent ownership of financial securities, deeds, intellectual property and agreements of any sort in a secure and decentralized manner.
Now what is ether (ETH)?
Ether is the cryptocurrency of the Ethereum network and carries the ticker ETH. It differs to bitcoin and other altcoins, as it was not created as a cryptocurrency for financial transactions but instead as the ‘fuel’ powering the Ethereum blockchain. Therefore, anyone who uses their computing power to validate transactions or contributes to the development of the Ethereum blockchain will be rewarded with ether. In that sense, it is similar to mining bitcoin. For those looking to conduct specific operations on the Ethereum blockchain, they are required to pay ether to do so.
Ethereum is the most promising technology investment out there. It's quickly proving to be one of the most profitable investments of all time.
At Ethereum’s current growth rate, $500 dollars can be expected in the near future. Digital currency analysts think that we could see $500 before the close of the year.
In the long-term, the currency is projected to enter the thousands. That means if you want to get in on this investment, you need to buy now
Ethereum is an open-source network. It is far superior to any other blockchain network.
For now, know that when you purchase Ethereum, you are actually purchasing the network’s digital currency, Ether. Ether powers the Ethereum network so by purchasing it, you invest in the network itself.
Ethereum has more applications than bitcoin.
The Ethereum blockchain records things far more rapidly than Bitcoin — processing transactions in 12 seconds, as opposed to Bitcoin’s 20 minutes.
Ethereum is backed by fortune 500 companies
Ethereum is being incorporated by financial institution
The application packages customer information into blockchain packets that can only be accessed by the private parties involved in the transaction. This prevents the information from being emailed out, eliminating multiple privacy concerns.
One should remember that this kind of investment is a high-risk, high-reward long-term punt on a technology that many believe will play a major role in many industries in the future.