Bitcoin is Booming | A coin That I would love to Own
In my previous post I talked about one of my favorite Coin XRP, Today let's talk about the Best alternative coin... Known as Ethereum(ETH)
What is Ethereum?
Ethereum was initially released in 2015 although this was started in the year 2013,First of all you need to know that Ethereum is not just a cryptocurrency, it is both an Currency and a Platform, a Decentralized open source blockchain.
Basically Ethererum is an decentralized platform, which simply means its not controlled by anyone. It is much better than the centralized ones since they can be hacked easily and users data is always at risk. Ethererum is totally autonomous, and it's not controlled by anyone at all.
Ethereum is a whole network, having its own internet browser, coding language and its payment system. It's where Ether(ETH) comes, ETH is the native cryptocurrency of Ethereum platform.
Aim of ETH
ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts. The main aim of ETH l is to become a global platform for decentralized applications(Dapps) that allowing users from all over the world to write and run software (Since it's open source) that will prevent from the censorship, downtime and fraud.
What is Smart contract in ETH?
A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. Smart contract helps to solve the issue of mistrust between parties and business partners, it reduces unnecessary costs and time expenditure while enhancing transparency
smart contracts basically allows you to perform transactions without any third parties. So you can Perform directly, anywhere anytime.
Popular Dapps on ETH
I personally like uniswap the most and Compound.. The main reason ETH is being used more than btc
because it has more purposes Its open source allows anyone to create Decentralized applications on ethererum network.
Dapps on ETH network | SRC
Why choose ETH?
- Decentralized
- Higher security
- Autonomous
- work Anonymously
- Both Currency and Platform
- Create Dapps
- Smart contracts
- ERC - 20
- No point of failure
ETH Highlighted FEATURES | SRC
BTC vs ETH
Let's compare the Best with best, Both are cryptocurrency but have totally different goals. BTC has finite supply 21M bitcoins that can ever be mined on the Other hand ETH supply is practically endless . If you compare with block mining time.. Bitcoin mines a new block on an average 10 mintues per block While ETH average block mining time is barely 12 Seconds.. Which means faster transactions than bitcoin.
Ether works very similarly to Bitcoin and can be used for peer-to-peer payments. Also, it can be used to create smart contracts. Smart contracts work in such a way that when a specific set of predefined rules is satisfied, a particular output takes place.
| Particulars | ETH | BTC |
|---|---|---|
| Concept | P2P, smart contracts, Dapps | P2P |
| Supply | Endless | 21Million |
| Avg. Mining time | 12 - 15seconds | 10 mintues |
| Hash algorithm | Ethash | SHA-256 |
| Transaction per day | 659k | 219K |
| Current supply | 101+ M | 17+ M |
| Block size | 25.134 kilobytes | 628.286 kilobytes |
| Blocks created | 6+ million | 537,000 + |
Market Cap and Ranking
Many coins and tokens were created after bitcoin.. Even many before ETH finally arrived in 2015,but none gained that much popularity like ETH, its a powerful project.
So as you can see in the below Image ETH is at rank 2 just after bitcoin with a market capitalization of $59,574,497,809 USD that's huge isn't? in my opinion ethereum is the best Alternative Coin to invest in although not a financial advice though.
ETH Ranking and Basic details | CMC
ETH market pairs
ETH market pairs | SRC
Ethereum is one of the major coin that provide pairs with other altcoins and its listed on almost all the cryptocurrency exchanges. It has so many pairs with top coin btc and other altcoins on various exchange although volume is vary on every exchange.
ETH Monthly Data
On 26th October right 1 month ago ETH was around 390$, in just 30 days It reached to 600+$ But couldn't be sustained for a longer duration but it will definitely rise again along With BTC i think.. But as predictions in cryptoworld are almost impossible.
ETH Historical Data 26OCT - 26 NOV | SRC
ETH/BTC price charts
With the below images you can see that ETH recently had a major fall in the last 24 hours.. Although it was just raising and raising in the previous days... The volatility is higher as usual. Can't really say when ETH price will be sustained for a while.
ETH/BTC 24H price chart | SRC
ETH/BTC 7 Day price chart | SRC
Do I hold ETH?
As we all know ETH is a expensive crypto and everyone can't hold large amount of ETH, but if i ever get spare money I'll definitely invest some in ETH for long term basis I'll just invest and never look back for at least couple years. ETH is like my dream Coin that I would like to own.
ETH has gained more popularity in less time.. I think it will just keep growing and its price as well.. Many crypto works on ETH network.
Buy sell or HODL?
ETH Price details | SRC
Yesterday ETH closing price was 570$, it has already fallen nearby 510$ Now and I assume it will fall again since ETH is expensive and can't be bought in bulk quantity only big investors can invest.. But this could be a really good time to buy more of ETH...or alternatively you can wait for sometime to see if price falls more.. Then it would be a right time to invest in ETH after all Rank 2 coin with second largest market capitalization and infinite supply.
Yesterday fall was approximately 5% and today almost 15% its going downwards so I would personally wait to see if it falls more.. Anyway cryptocurrency is all about patience and not being panic as it's very comman to rise and fall all of a sudden... High volatility.
Data References -
Post payout is set to 100% power up
Precisely the current supply of Bitcoin is 18.554 Million.
Long term investment easily absorbs such as temporary correction and noise. Bitcoin is going through a technical correction, so are the altcoins. Once BTC stabilizes, we might see bullish altcoins again.
The majority of the DeFi are concentrated in the Etherum chain, perhaps that is the reason for such a rise of ETH. However, transaction fee is no more cost-effective.
Thank you.
Steem on.
#onepercent #india #affable
Thank you for clarification.
I strongly believe that ETH is going to remain among the top 5 cryptocurrencies in the world for years to come.
This is largely due to the many activities occuring on the ethereum blockchain. This generates lots of transaction fees in ether (ETH) which drives/powers the blockchain.
Also, there has been to some extent a stable growth in terms of its price projections. Normally coins that have lower price and follows bitcoin's upward trend attracts lots of investors.
More hope for the future my friend 😉
#twopercent #ghana #affable
Indeed mate.. I agree with you at this point.. I also think eth will surpass 1000$ very soon. Since it's being used for many purposes.
Thank you for visiting here.
#onepercent #India #affable
https://twitter.com/Rishabh99946/status/1331909352874119171?s=19
Thank you so much, @rishabh99946. Your post really helps to understand distinctive key aspects between ETH and BTC in an introductory way. I am just a beginner at cryptos and I appreciate your clarity of speech.
I'm glad you find it useful, thank you for visiting my posts.
You can put #onepercent or #twopercent at the end of your comments to get worthy upvote from @steemcurator01, also make sure to include country tag.
#twopercent #India #affable
Just like that.
So much Ethereum has created for itself. When I remember how I was introduced to the ethereum and how fast it has gain so much growth, I wonder in awe.
#I-AM-MANDATE
#onepercent #twopercent #nigeria #affable