Ethereum is the second most well-known cryptocurrency after bitcoin. In anticipation of the release of the long-awaited Ethereum 2.0 standard, many people are wondering what the future holds for Ethereum. And much its original Ether (ETH) coin will be worth
So far, there are good reasons to believe that the outlook for Ethereum in the coming years will be mostly positive. But that depends on ETH's dominance in market capitalization, its popularity, and the calculation of its value online, with ETH outperforming bitcoin in the latter.
It is predicted that the price will still hold the upward trajectory adopted earlier, based on past performance and the growing adoption of the Ethereum blockchain. Many expect a breakout of ETH due to Ethereum's status as the first and only general-purpose blockchain. It is on this basis that the question of how to invest in Ethereum today is acute, as Ether truly deserves the right to be among the best and most reliable investments of 2021.
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A smart contract is simply a piece of software code embedded in a blockchain. The code spells out the terms of the contract. When they are met, a transaction is automatically executed.
Ethereum extends the concept of cryptocurrency to the crypto-economy through smart contracts. If the main idea of bitcoin is money independent of the state, the main idea of Etherium is an economic system independent of the state.
Ethereum has two types of accounts: a wallet and a smart contract. Both can make transactions, store coins, and accept Ethers.
The main difference is that the coins in a smart contract balance are managed by an algorithm, not a person.
A regular wallet is controlled by a bundle of public and private keys, while a smart contract is controlled by a hash of its code. Because of this, a smart contract cannot be changed - if you change even one character in the contract code, the hash will change irreversibly and the blockchain will reject it.
There are three things you can do in Etherium:
A smart contract is just a code that can be executed by making a transaction to its address.
When you transfer ether, your transaction information is written to the Ethereum blockchain by the miner. When you add or execute a smart contract code, when you add a block, the program code is executed.
You have to pay a commission for each transaction.
This commission goes to reward the miners whose computers are in charge of adding blocks and executing the smart contract code.
Gas is a unit of commission payment in Ethereum.
The amount of gas affects the speed of execution - the higher the value, the faster the transaction will happen.
Usually, miners sort all transactions by value and try to execute first the ones with a high commission.
If the price is too low, the transaction may hang up and take a long time to execute.
To buy Eth you always have several options: exchanges, exchanges, and p2p-platforms. Exchanges are of course preferred because of reliability, profitability, and speed of transactions.
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