Author: jesse

Ethereum will replace Bitcoin

In this fast moving and competitive world that we live in, it has become very difficult for applications to maintain or make it to the mainstream. Just when you think you have made it or you are close to being the next mainstream, another competitor with a better, strong, fast with an upgraded technology version comes along and takes over the market by storm. Hint: we’re talking about cryptocurrencies like Ethereum.

Ethereum takes Over

A good example of these technologies is analogue phones; one cannot compare phones that were used in the older days with smartphones that are used in the modern days, starting from their features, functionality, design and capabilities. The same thing is happening with digital cryptocurrency. Bitcoin is now fading into the past while new tech companies are growing. BTC used to be mainstream, but sees a diminishing market cap as time goes on. There’s no reason to fully invest yourself into just one coin anymore, as innovations like Ethereum’s smart contracts have improved the state of digital money. The new technologies are the ones which will make it to the mainstream.

Get an Ethereum wallet to participate in smart contract coding!

Get an Ethereum wallet to participate in smart contract coding!

What about Ethereum going mainstream?

When it comes to Ethereum it’s the same. Other innovations and technologies such as bitcoins are like analogue phones that are being replaced by Ethereum. Ethereum being one of the greatest and most simple innovations. It was built and designed to not only replace rules of traditional organization and structures, but also eliminate the need for centralizing and controlling people. When it comes to operation, efficiency, security, functionality, time and energy saving then Ethereum is simply the best. Ethereum wallet can perform many operations within few seconds, unlike other innovation such as Bitcoin that uses block chain application also but perform limited set of operations such as peer to peer digital currency. The average confirmation time for Bitcoin is ten minutes. For Ethereum, this number drops to a mere ten seconds. Bitcoin’s confirmation time is just too slow. In terms of security, it is also running on SHA256 which will eventually be broken in the future.

Don't expect SHA256 to last for long. It's a dying algorithm.

Don’t expect SHA256 to last for long. It’s a dying algorithm.

This new invention and approach in the market can also be used by ordinary people across the globe because it’s not complex, cumbersome or time consuming as compared to other technologies such as Bitcoin.

What’s better than Ethereum wallet?

With no competitor to match Ethereum wallet here, and the high rate this technology is taking over the market, it has left many organizations with no choice than to adapt technologies that are not traditional and are easy to control so as not to be overdrawn or overshadowed by the new technologies such as Ethereum.

There are various reasons why Ethereum will be the next mainstream digital currency as asian countries join

The innovation is not complex like other technologies such as bitcoin. Anyone can use and run the program irrespective of where they are and the memory available.

Instead of building the whole block chain afresh for each and every new application Ethereum has made possible the development of a thousand different applications to be used all in one platform. Vitalik Buterin says it’s very much like a smartphone in that sense.

Inside your Ethereum wallet smart contract, code can be deployed to serve applications using the blockchain.

Inside your Ethereum wallet smart contract, code can be deployed to serve applications using the blockchain.

The approach used by Ethereum is modern and not traditional making it to be easily adaptable and demanded in various institutions such as schools.

It offers a very high level of security since it uses cryptography that protects all applications from being hacked by hackers or interfered with by criminals. One example is Uport, which identifies people.

Eth code is fixed to a point that the third party cannot change the data if coded.

Ether allows and guarantees people execution and decentralization of codes due to many language program that ethereum has.

It has an inherent synergy that makes it unbeatable as compared to other technologies.

Cryptocurrency like Ethereum offers a stable store value and people can use tokens within Ether as well.

It also offers the best Ethereum wallet that stores ether and accepts other altcoins payments easily and directly in ether form

Places that Ethereum can used:

Ethereum is a mass consumer technology that is very easy to sell. The invention can be widely used in different organization across the globe and also in schools, universities, clubs and churches too.

Conferences are held to educate users about the new features of Ethereum.

Conferences are held to educate users about the new features of Ethereum.

Organizations

This new invention has caught the attention of many traders and business people across the globe, this is because Ethereum is not complex. It is easy to use and flexible enough to allow anything that has value to be transacted and exchanged safely and securely by multiple parties without the risk of being stolen. Also many organizations not only recognize but fear the disruption and competition that block chain will bring to their traditional and conventional way of doing things leading them to invest in systems that are easy for them to control such as ethereum.

Schools and Universities

Schools and universities are planning to use Ethereum smart contract to expand access and entrance to education, giving wide range of opportunities to students when it comes to choosing and selecting courses of their choice from different institutions across the globe irrespective of their financial status or where they are across the globe. This is possible with ethereum because unlike other technologies which are not reliable, trustworthy and set to perform limited operations ethereum is the opposite.

I highly recommend this innovation for people who are results driven and want to keep up with this competitive world that we live in.

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