Ethereum: From A to Z
One of the top 3 in the cryptocurrency market today which comes in 2nd place after the well-known Bitcoin is “Ethereum”.
Most of you might be asking so what is the difference between them or even why BTC and ETH are different from each other? And to answer that we need to know more about Ethereum.
1. Ethereum has 5 founders ( Anthony Di Lorio, Vitalik Buterin, Mihai Alisie, Amir Chetrit, and Charles Hoskinson) and was first announced in January 2014. So it is different from BTC which was found by basically one founder “Satoshi Nakamoto”
2. Ethereum doesn’t operate using the normal “blockchain” system but using accounts and balances know as “state transition”. So while BTC use the continuously growing list of records ETH use the current balances of all accounts and extra data owned by the state
3. Ethereum has a script language or “scripting”. So you can vote on a poll or create one yourself using your ETH account. Script language is one of the gaps in BTC so people tend to believe that ETH has better luck when it comes to future development.
4. Ethereum block time is between 10 to 20 seconds depending on the difficulty of the transaction. Which is a lot faster than the 10 minutes block time in BTC
5. The maximum amount of Ethereum that can ever be existed is unlimited.
So while BTC has a fixed amount “21 million”, Ethereum can continue creating coins forever with 5 new Ether are created every 14 to 15 seconds. So by now, we have gained some knowledge about Ethereum but still, you might ask why Ethereum, why should I invest my money in ETH when I nearly have hundreds of other options? No one can make a 100% correct prediction when it comes to Ethereum or any other coin price because it all depends on the market it’s not up to someone or any organization we all work according to already existed facts.
And when it comes to Ethereum we have 3 facts.
1. Ethereum has nearly 4 times the developers of the next biggest ecosystem.
2. Ethereum also has the highest number of full-time developers.
3. Ethereum and Bitcoin equally have many full-time developers committing consistently.
All of those 3 facts indicate that Ethereum still has much more potentials in the future and even though it is hard to believe but right now it is basically considered still an under development coin and one thing known in the cryptocurrency market is that “always look at the long run”.
Still not convinced? Then let’s make an assumption. Assuming that a man invested a thousand dollars in Ethereum when it was at its all-time low price $0.420897 on Oct 21, 2015, and waited till his all-time high $1,432.88 on Jan 13, 2018, then he would have been a millionaire by that time. That proves how much potentials does Ethereum has and why it is on the 2nd place right now with many investors looking forward to it.