Ethereum Review | What is Ethereum? (Part 2)

Ethereum Wallets and Market Cap –

We had earlier mentioned about the various hardware wallets (cold wallets) and software wallets (hot wallets) such as Desktop wallets, Mobile wallets, Web wallets, etc. So here are just the examples of the various Ethereum wallets –

Also, Ethereum’s market cap is about $10 billion, as per February, 2018, which equals to just about one-third of the Bitcoin’s market cap. Yet, Ethereum is still among the worthy cryptocurrencies.

Ether prices keep changing very frequently and hence the market cap too fluctuates often. So one could only wait for what the future holds.
Thus currently, 1 Ether coin equals $499.78 USD which is almost 0.07706090 BTC.

More Insight –

Ethereum Review | What is Ethereum?

Tron Review | What Is Tron?

‘Selling Crypto Now Is Like Selling Apple in 2001’

Insight on DAO, its Hack and ETC –

DAO stands for Decentralised Autonomous Organisation. DAO was launched in the month of June, 2016 with about $150 million in crowdfunding.
It was basically made in order to be a Venture Capital Firm, which not be owned or operated by anyone.

But it was a prey to hacking, as soon as it was launched. This was apparently caused because of a wrong code in the DOA and the result was a loss of DAO tokens worth US$60 million.
In order to repay the loss, a Hard Fork was implemented on the Ethereum blockchain at Block 192000. Hence, this made that particular transaction which got hacked as invalid and thus giving way to a new blockchain.

That latest version of the blockchain was known as Ethereum Classic or ETC.

Use-Cases of Ethereum –

There are few very interesting use-cases of Ethereum and few of them are mentioned below –

1) GOLEM :-

As the official website says, Golem is the first decentralised as well as open sourced supercomputer worldwide which is developed by Ethereum.
Also, it can be used by anyone via small desktops or laptops to even huge data centres.

Golem utilizes an Ethereum-based transaction system to settle payments between providers, requestors and software developers. All computations take place in sandbox environments and are fully isolated from the hosts’ systems.”

ethereum

As the official website says, Golem is the first decentralised and open sourced supercomputer worldwide which is developed by Ethereum.
Also, it can be used by anyone via small desktops or laptops to even huge data centres.

Golem utilizes an Ethereum-based transaction system to settle payments between providers, requestors as well as software developers. All computations take place in sandbox environments and are fully isolated from the hosts’ systems.”

You could gain money by renting PCs.

Shares computer power hence it’s economic.

Brass Golem is the first practical application which computation of computer-graphics very fast.

You could run a website/long code for computational resources.

Calculate a tough computation.

Mine the cryptocurrencies.

 2) uPort :-

uPort returns ownership of identity to the individual. uPort’s open identity system allows users to register their own identity on Ethereum, send and request credentials, sign transactions, and securely manage keys & data.”

It’s an open source system which is also user-friendly and enables global, unified and sovereign identity system for all including bots.

It’s secure and also allows verification of your identity using its blockchain platform.

3) Slock.it :-

Slock.it brings the benefits of the Blockchain – transparency, security and auditability – to real-world objects.
Our technology can be embedded in almost any device and the first prototypes are already in the hands of developers.”

Also, 66 % of the entire world wants to gain profit by sharing assets.

Basically, Slock.it makes under-used assets available for rent.

Hence, Ethereum helps in interaction between physical objects like vehicles, apartments, etc.

4) SingularDTV :-

SingularDTV is a blockchain entertainment studio laying the foundation for a decentralized entertainment industry. By building the future of rights management, project funding, and peer-to-peer distribution, SingularDTV’s platform empowers artists and creators with powerful tools to manage projects from development to distribution.”

Also,it’s the first decentralised sci-fi television series worldwide, along with blockchain portal.

Also, it’s based on Ethereum where users could use the crypto-tokens to drive the ecosystem.

Entertainment rights are distributed among writers, creators, investors, actors, etc.

Also, no fraud or third party involved.

5) EtherTweet :-

EtherTweet repository contains the code of a decentralized microblogging service running on the Ethereum blockchain.
The service provides basic Twitter-like functionality to tweet messages of up to 160 characters.
Hence, here, decentralization means there is no company or central authority in control of what is being published.
The system is censorship resistant in the sense that once a message is published, it can only be removed by the publisher.”

If the content is up-voted, then the publishers could earn Ether.

Difference between Bitcoin and Ethereum –

The following image gives a clear difference between the two but it should be noted that there is no particular competition among the two.

Till date Ethereum is only growing even as we speak. But just like any other cryptocurrency, the prices would rise and might even fall down in the near future.
Hence, it sure has its advantages and applications, yet one could only wait to find out its future in the crypto world.

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Navaneetha Suresh

Navaneetha Suresh

Navaneetha, commonly known as "nav", loves to read, play badminton, play the keyboard and sing but when she's not doing any of those, she loves to write. What started as a high school hobby to write is now her ongoing passion.

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