What is Ethereum?
Many believe that Ethereum is a cryptocurrency, but in reality it is quite different. Ethereum is a decentralized system that resembles a large computer that operates non-stop. It also has a very powerful control system that prevents any attempts to enter. It is originally composed of a set of interconnected devices through a smart system that make up the Ethereum System. It contains a set of programs to execute the commands, which is called Smart Contract.
The Ethereum System was launched by the programmer Vitalik Buterin in late 2013 when he proposed the introduction of an electronic system with a special cryptocurrency called Ether, which was funded online in mid-2014 by people who took interest in it before the Ethereum System began actual operating on July 30, 2015.
The Ethereum System is currently recognized by several international organizations such as Microsoft and Intel, as well as over 80 financial institutions.
The “Ether" currency, code “ETH,” is the cryptocurrency of the Ethereum System. It is an open platform based on the blockchain and makes the smart contract similar to conventional contracts with the availability of the protection and confidence factor.
It ranked second among the most traded cryptocurrencies after Bitcoin in market value.
Advantages of Ether:
It is subject to a very strong control system that prevents all kinds of cheating.
The execution of orders is done through smart contracts execution.
It is not affected by changes in the cryptocurrency markets.
The Ethereum System is recognized by the most renowned international companies such as Microsoft.
The Price of Ether:
The price of Ether currently stands at about 673 USD at a market value of 66 billion dollars, which is a very large number making the currency a strong competitor for the Bitcoin.
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