Are we witnessing the dawn of a new era in cryptocurrency? There has been a lot of noise and positivity about the rise of digital currencies as an alternative to traditional banking and financial products in recent months. A third of global internet user growth was witnessed in just one year, and digital currencies are on track to become the fifth most popular form of payment by 2020. Today’s virtual currency is here to stay, but not all cryptocurrencies will be able toaries at this stage. Areein Horowitz, a technology entrepreneur-turned-expertise manager at ethermine, believes that etherium, which is the first cryptocurrency created with blockchain technology, will help usher in a new era for digital currency. Do you think etherium can usher us into a new digital age? Let’s see…
What is etherium?
If the concept of the blockchain and cryptocurrency is a little foreign to you, or you’re not yet comfortable talking about, you may want to skip this article and head straight to the benefits of the blockchain and its potential for bringing about a new era in digital currency. The blockchain is a computerized protocol that provides a distributed, decentralized, and trust-free platform for managing and recording transactions across many decentralized computers. It’s not just your money that’s safe at all times and in all places because the blockchain gives rise to a much wider range of assets, from stocks and bonds to virtual goods like gaming apps, games, and dApps.
How to Buy Etherium
This is the most important step. You need to buy ETH at some point in order to use it on the exchange. The best place to get started is Coinbase, which is also one of the most popular exchanges in the world. Since you’re going to use it in the future for everything, it’s a smart idea to invest in a larger account to help protect your wealth until you get into retirement. You can pick up a Bitcoin or Ethereum now and store them in a digital wallet like a Google Voice account or a Bank account. The latter is recommended due to its usability and security levels.
Why Does Etherium Matter?
This is one of the most important aspects of investing that we’ve yet to cover. If you’re not yet aware of the potential of digital currencies, the hype around them could be the reason you’ve chosen to invest in cryptocurrencies in the first place. With so much potential digital currency investment potential, you may be wondering how the hype around cryptocurrencies can affect your investment strategy. The following are some of the main reasons why you should care about this evolving industry so much: The way that cryptocurrencies are used: As a means of payment, these currencies are different from fiat money in that they are not backed by any country or formal entity. This means they are not tied to any particular central authority, so they can be used anywhere in the world with no boundary being drawn between the user and the transaction The potential for disruption: The fact that cryptocurrencies are not tied to any particular exchange or central authority means that they have great potential for bringing about disruption in the financial industry. There will likely be numerous startups investing in the space, and their designs will likely reflect this potential.
The Rise of Ethereum
At the end of the day, it’s really the same old story all over again. We’ve all heard the hype surrounding Ethereum and its potential, but until now, we’ve only seen the blockchain-based digital currency being used as the backbone of an industry. Now, with the advent of the new generation of blockchain technology, Ethereum is seeing the light of day as a full-blown digital currency.
How to Use Ethereum
Again, as with all new technologies, you need to get your head around the required skills and knowledge set before diving into this. There’s no point in trying to use Ethereum in a technical sense if you don’t have the necessary skills to use them. All you will likely do is observe the usage of the technology and try to adopt the conventions of the existing digital currency systems in your country.
The blockchain is all about global consensus. It’s a communications technology that gives each and every transaction in the world full and irrevocable digital proof. It’s also used for creating trust and consensus in the financial sector. There will be a lot of hype around new cryptocurrencies, but don’t overlook the potential for value increase that can be realized through their use in the financial sector.