Cryptocurrencies are virtual or digital currencies that have no centralized regulating authority. It means that money is created and transferred without the intermediation of banks. Cryptography is used a means of ensuring transaction security. 

Ethereum Cryptocurrency

The Ethereum project launched in Late July of 2015. It was set up for developers and entrepreneurs to create markets and store registries. The decentralised platform is known for its running of “smart contracts.” These are applications that work as they were programmed to work and can’t be interfered with. There is no possibility of downtime, censorship, fraud or third-party interference of these applications. Ever since Ethereum inception in 2015, the apps perform on a powerful global infrastructure that is shared. The infrastructure enables the trading of value and digital property in safe and secure way.

Vitalik Buterin, the orginal developer of the coin, felt that Bitcoin had some limitation that he tried to address with the creation of the new cryptocurrency. The Enterprise Ethereum Alliance was created in 2017 with the coming together of multiple start-ups, research groups and tech companies such as JP Morgan, Deloitte Cisco and Samsung.

There are currently a supply of 100 million coins with no hard cap on the total supply long term. 

Pros

  • Smart Contracts based on different languages used to create unique functionality. 
  • Complex trades and contracts can be processed without third parties
  • Robust ecosystem, easy for developers to enter and contribute.
  • Prototypes gives community clear expectations for the future
  • Corruption free
  • Servers are strong, will never go down.
  • No space limits
  • Third parties can’t make changes to any sort of data.

Cons

  • Less useful for single contracts or trades
  • Transition to new prototype may not go smoothly

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