Since launching in July 2015, Ethereum has become the second biggest cryptocurrency by market cap, and the most built on blockchain with the widest eco-system.
Coined as a world computer, a decentralized operating system, the web 3.0, it was the main driver behind the altcoin rally in 2017-18, seeing an all time high of near $1350, as almost $800 billion entered the crypto space.
But since then, notwithstanding Bitcoin and a few other coins, the crypto space and Ethereum has been through a cyclical downturn. This has seen many altcoins fall by the wayside, but in a bear market is when the hard work gets done.
So, is it time to be bullish again? Bitcoin has just had its halving, and this is usually a good signal for the crypto space, but what about Ethereum, is it a good investment?
What is Ethereum?
Ethereum is an open-source blockchain network that facilitates the construction of decentralized applications (dApps) on its platform, making it easy for developers to construct such a thing, while also giving them the security of the Ethereum network.
Ethereum is similar to Bitcoin in some ways. They’re both decentralized and have miners verifying the blocks. Both networks have a coin that helps power it, but whereas Bitcoin’s is for peer-to-peer payments, Ethereum’s ETH token is also needed by developers wanting to build on the blockchain.
What’s more, because Ethereum runs through the Ethereum Virtual Machine (EVM) it enables better smart contract capabilities, and its these that really give Ethereum the edge, even against Bitcoin.
A smart contract is a complex software algorithm designed to support commercial contracts that are coded to self-execute when all terms are met. And because the Ethereum blockchain is secure and open, it acts as the guarantor of the contract, thus eradicating the need for any expensive middlemen such as notaries or lawyers.
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