Today we are taking a quick look at Ethereum, where it is, where I think its going and some of the distinguishing factors that makes it a special technology
$BTC has dropped 6% today from its all-time high yesterday of $69K and Ethereum is holding well $3,676 down from yesterdays high of $3,800, Check in with me in an hour and I'm sure it will be up again, lol
My history with Ethereum - Learned about ETH in 2016 and 2017 started mining. It was the application layer that interested me the most.
There are many factors that make Ethereum very powerful and subsequently a leader in the Blockchain / Web3 space. Here are but a few…
1. Decentralized Applications (DApps) and DeFi: Ethereum facilitates the creation of decentralized applications (DApps) and powers the rapidly growing field of decentralized finance (DeFi).
2. Smart Contracts: Ethereum introduced the concept of smart contracts, which are self-executing agreements. When predefined conditions are met, smart contracts automatically execute without the need for intermediaries.
3. Decentralization and Security: Ethereum’s decentralized nature ensures that it isn’t controlled by a single entity. The network operates transparently and securely without intermediaries. This is very important!
4. Digital Assets and Tokenization: Ethereum enables the creation of new digital assets, including cryptocurrencies and NFT’s (ERC721). These assets are built on the Ethereum blockchain and benefit from its transparency, immutability, and security.
In summary, Ethereum offer a very robust technology layer and at it’s core Ethereum’s power lies in its smart contract capabilities, decentralization, and influence on tokenization and digital assets. It is a very robust network with many, many developers supporting the entire ecosystem.
I hope you found this informative and now know why I'm a big fan.
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