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Benefits of Ethereum

 

If you are looking to start trading cryptocurrency, this is one of the most important questions that you will need to answer before making your first trade. The simple answer to this question is that ether, the coin that fuels the Ethereum network, has several distinct advantages over Bitcoin and other digital currencies, making it an incredibly popular cryptocurrency. 

 

Ethereums popularity has helped it grow in value well beyond its initial market cap, which was less than $1 billion at its launch. Ether’s market cap currently stands at over $20 billion. As the popularity of ether has skyrocketed, so too has its value. In 2017 it was possible to purchase an ether for less than $10, though its current price is closer to $300.

 

The first benefit of Ethereum is that transactions on the blockchain are standard and easy to understand if you know how crypto currencies work. This is not the case with Bitcoin, whose blockchain technology differs significantly from that used by Ethereum tokens.

 

Another benefit of Ethereum is that it adds additional security features to cryptocurrency transactions through smart contracts. These are digital contracts that self-execute when certain conditions are met, making fraud extremely difficult as everything happens on the blockchain.