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Home Ethereum

why to choose ethereum ?

news by news
September 21, 2021
in Ethereum
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why to choose ethereum ?
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As we have already mentioned, ethereum’s blockchain technology is similar to that of bitcoin. However, there is an essential difference between your goal and your capabilities. Bitcoin only employs a specific application of blockchain technology. Ultimately, it is an electronic cash system that enables online payment with bitcoins. The ethereum blockchain tracks ownership of digital currency, but it also enables the execution of programming code from some decentralized applications.

Other key differences include the following:

Developers can raise funds for their applications with ethereum. They can establish contacts and request guarantees from their members.
There is a finite number of bitcoins available (estimated to be about 21 million). Ethereum issuance is limited to 18 million units per year, equivalent to 25% of the initial offering. Therefore, since absolute issuance is fixed, relative inflation declines year after year.
Instead of mining bitcoin, miners on the ethereum blockchain work to get ethers.
The cost of transactions is measured in several ways. This cost is called "gas". Transaction costs depend on bandwidth usage, storage requirements, and complexity. In the case of bitcoin, transactions compete with each other on an equal footing and are limited by the size of the blocks.

How to invest in ethereum

When you buy ethereum (ether) coins on the market, the price is usually displayed in fiat currency (USD, EUR, or GBP). That is, you sell a certain amount of currency to buy ether. If the price of ether rises, you will be able to sell and make a profit, and if the price falls and you decide to sell, you will realize your loss. You will also need access to a market or a wallet to deposit the ethers you have purchased.

With CMC Markets, you can trade either by trading CFDs. This way, you can invest based on price fluctuations without owning the cryptocurrency. It also does not assume any ownership of ethers. Therefore ethereum cannot be purchased through an account with CMC Markets. What it does is open a position whose value will increase or decrease depending on the fluctuation of ether prices against a fiat currency.

CFDs are leveraged products. This means that to trade them, you only have to deposit a percentage of the total value of the trade to open a position. In other words, it is trading on margin or guarantee. You will not have to commit all your capital as in the direct purchase of bitcoin, but you can use an initial deposit to gain exposure to higher amounts. While it is true that leveraged operations allow you to increase your returns, the losses you suffer will also be increased since they are based on the total value of the position.
Open a long or short position.

CFDs make it easy for you to position both higher and lower. You do not need to own ethers to “sell” (go short), an option that is not available in the cryptocurrency markets.
Efficient use of capital

Trading with leverage only requires depositing a percentage of the total value of a trade-in to open it. In the major cryptocurrency markets, you would have to deposit the total value of the contract. Remember that both your profits and losses will be magnified, and the losses from an open position could exceed the value of your deposit.

No market accounts or wallets

Unlike when trading ethereum directly, you don’t need to open a market account or wallet to hold the litecoins you buy. This means that you do not have to wait for market approval to carry out your operations, and you do not have to worry about the portfolio’s security. There are also no fees if you want to withdraw your funds at some point.

This basic idea can be applied to more complex configurations. Its potential is probably unlimited, with projects that have already made remarkable progress in sectors such as insurance, real estate, financial services, legal services, and microfinance.

Smart contracts also have several additional benefits:

They eliminate the figure of the intermediary, offering the total user control and minimizing extra costs
They are logged, encrypted and duplicated on the public blockchain, where all users can see the market activity
Eliminate the time and effort required in manual processes

Of course, smart contracts are still a very new system with many details to be polished. The code is translated literally, so any errors during the creation of the contract could cause unwanted results that cannot be modified.
Fall.
Dapps – or DApps – are decentralized applications built on Ethereum and share similarities with smart contracts, but they also separate some critical differences.

Like smart contracts, a DApp is an interface that connects a user to a service from a provider through a decentralized peer-to-peer network. But, while smart contracts need a fixed number of participants to be created, DApps have no user limit. Furthermore, they are reduced to financial applications such as smart contracts: a DApp can have any purpose that one can think of, for example, new types of money and digital assets, uncensored web applications and decentralized organizations.

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