What One Should Know About Ethereum
From the very beginning, everyone who is interested in financial markets, has been watching with the heart aflutter the growing of smart-contracts platform Ethereum. Being a comparatively new development in the sphere of blockchain technologies, Ethereum aims at realizing the global, independent, decentralized super-computer for peer-to-peer contracts’ implementation.
The main difference of Ethereum from Bitcoin is that the first system prioritizes not on the payment system, but on computable platform. The inner system crypto-currency Ether is used by miners for the consumption of system resources. The more funds owns the user, the more subjunctive fuel he can pour into the engine of the virtual machine. One can earn Ether by the reverse way – to provide the resources of the personal computer for the solving of some computational problems, using the specific software.
The characteristic feature of the XXI century corporations is the growing role of the “machine assistant”, as compared to the manual work. The first sign has become the Bitcoin network. Its miners can be considered workers to the bigger extent, than the employees in the traditional corporate model. Ethereum is one more step in this direction. The platform will help to save time and resources by organizing the money and data transactions in the way where the human factor is unnecessary.
Business-models that will be based on the closed model, analogue money will be totally substituted by the crypto-currencies. Nowadays, the users are used to the immediate payments all over the world, without spending their precious time. About 50% of those who were born at the turn of Millenium are waiting that technological startups will ruin the old-fashioned banking system. Even though many things are still far from implementation, some successful gains in the crypto-currency (and smart-contracts) sphere let developers look into the future with optimism.
Ethereum is now on the stage, where the Bitcoin in 2010 was – incomplete infrastructure, the lack of developers and numerous sceptics. Competitors, such
Investing in Ether
At the moment, Ethereum platform is drawing the intense interest, and many people expect that crypto-currency Ether, which they laid hopes on, will grow in price. However, there is no straightforward forecast on this question since the project is only on its initial stage. The perspectives of using technologies based on Ethereum blockchain are breathtaking. These are decentralized autonomous organizations, and smart contracts, however, majority traces only Ether rate.
One should mention that Ether has caused an interesting situation. Before its launching the majority of crypto-currency trading platforms had a very small volume of sales. The introduction of Ether has changed the situation and gave the chance to come platforms that carry out the similar operations.
Charles Hayter, the CEO of Cryptocompare, agrees with this. He also agrees that such a situation will attract to Ether even more potential investors. However, he warns about unconsidered investments into the project despite its constant grow during the last few months. Rate grow attracts people to earn on it, but Charles Hayter advises to analyze possible risks independently.
To the Bobby Ong, the co-founder of CoinGecko, mind, the Ether rate has stabilized for awhile at the level of 10$/ETH. He has been watching Ether for some time and he admits the possibility of the repetition of the situation that happened with LiteCoin at the end of 2013, when its course had also started from 10$/LTC and reached the peak of 50$/LTC. Of course, there is a remote possibility that the majority of users will rush to buy Ether and cause the market collapse by that. That’s why Ong also advises to sound out the situation on the market and trade Ether very carefully.
It’s a very sound advice since almost exponential growing of Ether rate is happening right now, and it’s tempting to invest the big sum and earn on it. Still, the sound evaluation of the situation will help traders not to lose control on themselves.
Ether Wallet on Mobile
Right now Ether is not so widely recognized as Bitcoin. That’s why it’s quite hard to find an Ether wallet, which would be functional and convenient at the same time. However, a free mobile app for Android Peerther is the variant we look for. It is simple in use, it needs few personal data, and it starts running right after the download.
Since during the last few weeks the market rate of Ether has increased sufficiently, more and more people become interested in Ethereum and look forward to buying Ether. The Internet has numerous options of trading platforms where one can buy or sell Bitcoin, Ether or other crypto-currencies. So the logical question where to save your crypto-wealth emerges. If you google a Bitcoin wallet, you will have no problem finding a suitable option. With Ether, before Peerther creation, it was not so easy.
The main advantages of Peerther are:
- High privacy level, in contradiction to Bitcoin wallets. Probably, it’s because Ethereum platform is still on its initial stage and Peerther, and maybe other Ether wallets, are not directly connected with banks and don’t require a big amount of personal data.
- The application is very user-friendly. There are three main windows – receiving Ether, sending Ether, and receipts journal. When you open the app, you see the infographics with your balance, current rate of Ether, how much is received and sent, and the time of every transaction. Also, it gives the possibility to scan a QR-code for Ether transfer between mobile devices.
There is one important thing to remember. Since you have no personal account and you didn’t provide any identifying information about yourself, the only thing that gives the access to your Ether savings is a secret key, which must be remembered and saved in a good place. If the application is deleted from your mobile phone or you lose the access to your account because of some program failures, the secret key will be the only way to unblock your costs.
At the moment Peerther is available only for Android, however, developers are planning to release iOS version as well.