Crypto Education | What Is Ethereum? Why Invest In The 2nd Largest Asset In The Crypto Market?

What Is Ethereum?

Let’s rewind a little into crypto basics to understand a little bit more about Ethereum. Before Ethereum there was the predecessor of almost all cryptocurrencies, which was Bitcoin. First launched in 2009 by the mysterious Satoshi Nakamoto, Bitcoin offers the promise of a digital currency that is extremely secured without any central authority unlike government issued currencies. There was no physical Bitcoin with only a digital traded crypto currency, and many were sceptical about it.

Over the years, BTC is now sitting at a value of over $60,000 each, and we have over 300 million crypto users and investors in the industry, we can safely say that we are beginning to globally adopt cryptocurrencies.

Why is it the 2nd largest asset in the crypto market?

So how does Ethereum serve as a role all of this? Ethereum is a blockchain network platform with its own cryptocurrency called Ethereum (ETH). At its core development, Ethereum was a blockchain technology that was being used to create various decentralised applications that goes beyond just a digital currency.

First launched in 2015, Ethereum is now the largest and most established, open-ended decentralized software platform. This network allows users to create, publish, monetize and use applications on the platform, with ETH as a payment method.

The Ethereum network allows the usage of smart contracts and decentralized applications known as (DApps) to be built and run without any downtime. Furthermore, it is also extremely secured which prevents fraud, theft, control or interference from any third party.

Ethereum is mainly used for 2 purposes, the first of which is to use it on the Ethereum network for running applications. The second is that ETH is traded like every other cryptocurrency on the exchange. With its wide adaptability and acceptance by the industry, Ethereum stands proudly next to Bitcoin as the 2nd largest market valued coin with prices over $4,000 each as of Oct 2021.

ETH Growth

Since its initial presale launch in 2014, ETH has grown by over 10,000% in value. And all of these was achieved in only 7 years. Earlier this year ETH has also announced the upgrade of its network ETH 2.0 which would not only allow for faster transactions speed but also offers higher security and lower transaction fees. As this new upgrade is slowly pushed out, we can foresee that price for ETH will only continue to climb.

Here at volofinance, we offer an Ethereum trading account where we will help you manage your Ethereum by trading it at the best market entry and exit points. Our previous track records have proven that we can achieve up to 22% on returns every month from our ETH management services.

This is also one of the biggest opportunities as the crypto market is just on the verge of lifting off to the moon with many exciting news happening every day. And with ETH 2.0 just around the corner, you will not want to miss out on this opportunity, start investing with volofinance today!