Ethereum – hidden competitor or a different realm?

Alexey Sidorowich Ex Commercial Director

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What is Ethereum? Well, Ethereum is an open software platform based on a blockchain technology for building and deploying decentralized applications. Shortly speaking it is a distributed public blockchain network. In the Ethereum blockchain the miners work on the exploration of Ether, which is some kind of a crypto token that can be compared with a fuel for a network. Ether is used by applications developers to pay for transactions and services on the Ethereum network as well.

We should get away from the dry terminology and look a little bit at the statistics: Ether is the third most valuable digital currency on the Crypto Market after Bitcoin. The value and indexes of Ether have been growing significantly these days. Many of the Crypto professionals and enthusiasts have concentrated on this coin and show a real interest in this Market. Let’s throw the light on the Ethereum and sort everything out.

Ethereum vs Bitcoin

What’s the difference between Bitcoin and Ethereum? Before we start, please pay attention to the fact that Bitcoin and Ethereum are vastly different projects and have different intentions.

Ethereum is a token, which has an inflationary supply type. Currently explored 97 million ETH and new token is created every 10 to 20 seconds. Market capitalization is approximate 85 billions USD. Amount of a new token at issuance is 5 per every new block. Ether is used for making so called dApps on the Ethereum network. The token is facilitating Smart Contracts and at the moment Ethereum exchange rate is around 889 USD.

Bitcoin is a Crypto currency that has a deflationary supply type. Complete supply is 21 million in total. Currently explored 16 million BTC. Market capitalization is approximate 233 billions USD. New BTC issuance time is approximately every 10 minutes. Amount of new token at issuance is 12.5 at the moment (half is added at every 210,000 blocks). Bitcoin is mainly used for purchasing goods and services, as well as storing value. At the moment the price is around 13940 USD. A Bitcoin was created to compete against the gold standard and fiat currencies.

As you can see, from a general point of view, Bitcoin and Ethereum differ in purpose and shall not be compared on a standard basis.

Ethereum price prediction

According to opinions of the majority of experts, crypto markets are to continue to move higher in 2018 and the Ethereum shows very good results these days. I suppose we should pay some more attention to this coin. However, we must stay with our feet on the ground and not forget that Crypto Market is very volatile and the rates are changing almost every second. There are many factors that affect the situation on the Market, and it is impossible to give a definite prediction of what is going to happen in a week, month and quarter or in a year. Please, keep your heads cold and act wisely.

Ethereum exchange

A lot of people and professional traders seeking for an opportunity to buy or sell their Crypto using one of crypto exchange platforms all over the world. Nowadays we can choose any of various Exchanges we like and start buying or selling our currency, no matter if it is a fiat or a Crypto. Crypto trading is no longer a so cold “Rara Avis” (something, which is new, unique, unusual, uncommon, or exceptional). Crypto is the reality of the 21st century.

Nevertheless, among those who are striving for entering the world of Crypto we can find a lot of adventurers and business persons, who want to make money by not only trading, but also offering a tool or an instrument for setting up one’s own Cryptocurrency Exchange Software Platform. Some people are using their resources and trying to make everything on their own, while the others are looking for so-called turnkey solutions. Today we can meet on the web a lot of search requests like: “Ethereum exchange software”, “Ethereum exchange script”, “Ethereum exchange USD”, etc. The world of Crypto is involving more and more people this or that way.

A few words to sum up…

Crypto Market is getting stronger every day, new coins and tokens appear and give new opportunities, the technology is an unstoppable reality we are living. Today it is pretty hard to find anyone who has never heard about Crypto currency or blockchain technology. However, due to many aspects, we should concentrate more on a personal research and development in this field. The more answers we get, the more new questions arise… Follow the news and professional blogs; ask the professionals and experts for help. Try to stay up-to-date and don’t get lost.