If the Bitcoin is the king in the world of cryptocurrency, then Ethereum is the queen. The Ethereum price has rocketed in recent times and it is one of the promising cryptocurrencies. Ethereum is called Programmable money since it is used to write smart contracts and Dapps with an inbuilt programming language called Solidity. Ethereum is just built to overcome bitcoin by doing things which bitcoin did not achieve. Ethereum will let us run programs which can never be hacked by anyone.
How to get Ethereum:
There are just three simple steps to buy or sell there.
- Sign up for coinbase:
We have to sign up for a coinbase account so that we will get a safe and secure place to convert our local currency into digital currencies.
- Connect our bank account:
We need to give our account details either credit card or debit card details. There will be some verification process before we start an account.
- Buy and sell ethereum:
After the signing up process gets over, it will complete our buy and deliver our ethereum. In the same way, we can sell our works.
How to use it:
There is a method for exchanging, storing, and trading ether. That method or program is called Coinbook. It is just an online wallet. It was designed and developed by a design company known as Engine collaborative. That design company came to know that there are many products for the people to manage and view their cryptocurrency. So, they have finally designed this. It minimizes the transaction process and makes easier for the individuals to be drawn to this cryptocurrency. There is no understanding of computer programming or code.
Purpose of ethereum:
Ethereum developers can build anything with freedom. Bitcoin is one particular application of blockchain technology, whereas there code extends the concept of cryptographic proof to trust fewer agreements.
Uses of ethereum:
Ethereum is used in all verticals. Some of them are given below.
- Ethereum in healthcare:
Ethereum code can be used in health care system. The hospitals around the world can store, access and share the details of the patients.
There is no central server for a hacker to hack our website and misuse our personal information.
When there is a central server, the company will collect our personal information and sells it to the advertisers. But, that will never happen here since there is no server.
- Storing data:
The blockchain technology in Ethereum code can be used to encrypt and transfer data between the server quickly.
Thus conclude that there is good and well in its way to address several concerns which have bogged down the network. It is a runner-up to bitcoin. It will be a major investment in future if they retain and improve the advantages and uses mentioned above.