What is Ethereum (ETH)?
Ethereum is an open-source, public blockchain-based distributed platform. It provides a decentralized Turing-complete virtual machine, The Ethereum Virtual Machine (EVM), to execute scripts using an international network of public nodes. It provides a cryptocurrency toke “ether”, that can be transferred between users. Buy Ethereum (ETH) India – BuyBitcoin.
Ether is a necessary element for operating the distributed application platform Ethereum. It is a form of payment made by the clients. Ether ensure that developers write a quality application and keep the network healthy.
Trade with BuyBitcoin now. Click here now
At its simplest, Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications.
History of Ethereum
Ethereum was described on a paper by a programmer, Mr Vitalik Buterin In 2013 and proposed the development of Ethereum in a scripting language and published white paper. In January 2014, the Etherum cryptocurrency was announced by Vitalik Buterin at North American Bitcoin Conference, held in Miami, USA.
Formal development of the Ethereum software project began in early 2014 through a Swiss company, Ethereum Switzerland GmbH (EthSuisse). The Development was funded by an online public crowdsale during July–August 2014. While there was early praise for the technical innovations of Ethereum, questions were also raised about its security and scalability.
What can Ethereum be used for?
Ethereum enables developers to build and deploy decentralized applications. A decentralized application or Dapp serve some particular purpose to its users. Bitcoin, for example, is a Dapp that provides its users with a peer to peer electronic cash system that enables online Bitcoin payments. Because decentralized applications are made up of code that runs on a blockchain network, they are not controlled by any individual or central entity.
Any services that are centralized can be decentralized using Ethereum.
Think about all the intermediary services that exist across hundreds of different industries. From obvious services like loans provided by banks to intermediary services rarely thought about by most people like title registries, voting systems, regulatory compliance and much more.
Know more about future of Ethereum. Click here.
Features of Ethereum
Ethereum is not just a digital currency. It is a blockchain-based platform with many features like the Ethereum Virtual Machine (EVM) and its currency is ether for peer-to-peer contracts.
Ethereum’s blockchain stores applications negotiation and facilitation.
- It provides a decentralized way to verify and enforce the details. The decentralized makes it difficult to fraud. Ethereum aims to provide greater security and bring down the associated costs.
- It provides user authentication, via seamless integration of cryptographic signatures
- It provides fully customizable payment logic; easily create your own payment system without any reliance on third parties.
- Ethereum provides you as much storage as you want
- Everything in the Ethereum ecosystem can trivially interact with everything else.
- The whole application can be deployed on the blockchain so there is no need for setting up or maintaining servers.
Future of Ethereum
Because of Technology Development, the world is becoming more digital, so the craze of making payments in digital is increasing Because of the characteristics of the effective and secure transaction, Lower cost, Decentralized system. Ethereum is a new player in Cryptocurrency market as its value is increasing so it becomes second valuable cryptocurrency.
Because decentralized applications run on the blockchain, they benefit from all of its properties.
- Immutability – A third party cannot make any changes to data.
- Corruption & tamper proof – Apps are based on a network formed around the principle of consensus, making censorship impossible.
- Secure – With no central point of failure and secured using cryptography, applications are well protected against hacking attacks and fraudulent activities.
- Zero downtime – Apps never go down and can never be switched off
How to buy Ethereum (ETH) India directly with INR?
You can buy Ethereum from BuyBitcoin. BuyBitcoin is the Indian exchange listing the maximum number of cryptocurrencies.
- You can buy/sell and trade 25+ coins which are listed on the platform.
- Live trading 24/7 with zero buy-sell price difference.
- Open order book support, so you can set your buy and sell orders to a rate different from the market.
- Secured with utmost standard of the industry.
- Our 24/7 customer support team is always there to help you out.