Ethereum is a technology that’s home to digital money, global payments, and applications. Built by independents it is open to anyone in the world to use.
A bit of Etherium history
First drafted white paper was in 2015 followed by a start in 2016
2016 price ended $9.85
2017 price ended $334
2019 price ended $151
2020 price ended $586
2021 current Oct $4324
Along the way, Eth has introduced many Forks ( changes to the system) to grow with the market and stay with technology. The forks are referred to by names that explain what happened.
They used country names like Berlin and London, wild names like Spurious Dragon right through Altair. The name helps to designate the timeline and what was the purpose of the changes.
As a long-term investment, the returns would have been excellent. A $1000 investment in 2016 would be worth nearly a half-million dollars now.
What are the principal occupations of Etherium
It is in principle a new way of transacting payments across the world. These are done at very high speeds and a low cost thus competing with the banking industry. Well not really competing because it is so much better there is no real race.
A Digital wallet
A bit like a bank account where you have access to funds and transact payments and connect others with it.
It is important to note that your wallet does not contain money it provides you access to your money and only you can do it providing full security.
Your wallet shows your balances, transaction history and gives you a way to send/receive funds.
Like a normal Application (app) Dapps run on a decentralized financial system and are Smart contracts that run to a set of unchangeable rules and use Etherium blockchain and storage.
Anyone can build and use a Dapp for their benefit and it changes the way we do things in the banking world.
There is no censorship, downtime and it is backed by high-security levels
Defi, short for Decentralized Finance, is a collective term for financial products and services accessible to anyone with an internet connection. Etherium is a leading supplier in this industry
NFT (non fungible tokens)
This is Transformation Technology that has changed the whole lifestyle of transactions.
NFT’s are proof of ownership of a product and can dictate a percentage of any payment for a lifetime.
For example, an artist sells a painting to an unknown buyer for a disclosed price. When the buyer on-sells the painting the artist will receive a percentage of the selling price. Furthermore, this continues for a lifetime.
In tradition, the Artist received just one payment and no more, now a lifetime income based on sales volume.
Where will Etherium go into the future
Of course, no one has a crystal ball however many things should be considered.
Eth generally follows the value (Price) of Bitcoin as a market value. Currently at just under 8%.
Therefore if Bitcoin reaches the $150k level that some predict Eth should go to $12,000 from the current $4300 level and achieve this by early 2022.
(Not financial advice or recommendations)
Early adopter platforms win the race
Etherium is manyfold the value of its closest competitors and will retain that position in the future.
It will be similar to the fact that there will not be a competitor to Bitcoin the Eth platform will retain its position in the crypto world and as number two in market value
So many others businesses now use Etherium as a core product and they will stay the distance and grow with it to re-enforce the value.
- Trading the markets
- Lending and borrowing
- The arts
These establish the backbone while new players will add to the product. Etherium is a platform of value.
When you enter the crypto market go with some basic knowledge on what assets will provide long-term value. Certainly, you can day trade if that is your want however make sure your basic investments are made in value products that will stand the test of time.
We will look at more as we go along however build your knowledge slowly with a new understanding.
You will see a few new words on the page that you will see repeated throughout everything you do in this area. Dapps and DiFi, NFT, and wallets are everyday assets employed on the system.
Why will Etherium follow Bitcoin in massive growth
The Crypto world is growing.