Ethereum is proving to be one of the most favorable technology investments of all time. It was created in 2015 and since then has grown by over 1000%. To better understand what it is, Ethereum is an open-source network, much more than just a digital currency. Therefore, when you purchase Ethereum you are investing in the network, and placing money into a unique transformational platform, with many of its greatest applications still to come.
The digital coin of Ethereum, known as “Ether”, could be speeding up the decentralization of the world economy, and has the potential to influence many other industries. Ethereum is backed by a variety of Fortune 500 companies, who met in 2016 to discuss and join forces on developing Ethereum’s network technology. The Ether trading coin can be volatile, which can serve as an asset for traders.
Ethereum is the original version of the Ethereum blockchain from which the newer version was created. The newer version adopted the name Ethereum. The blockchains are not compatible, and updates on one will not affect the other. These changes led the way for the creation of the new crypto coin with a different name, leger, price, and market cap.
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What is Ethereum (ETH)
Ethereum was created and introduced to the world in 2013 by Vitalik Buterin and went live in July 2015. Developers were looking for a way to differentiate from the Bitcoin currency and make it to be exclusive with properties that stand out in a market of its own.
They developed a new approach with a new platform and a more common script language. Their software allows customers to run any program, which makes the Ethereum blockchain process and applications much more efficient than before. With Ethereum, developers can build a new type of software called “decentralized application”. This coded technology is not controlled by any individual or central system.
Advantages of Trading Ethereum with Coinscord
Trading Ethereum and with Coinscord can be beneficial in ways that regular cryptocurrency exchanges do not offer.
Short selling, “sell high, buy low” defines short selling which allows the trader to trade and benefit when the markets are down and then profit when they bounce back. In other words, short selling is driven by the belief that a price index will decline, allowing it to be bought back at a lower price to profit.
High leverage, is an advantage provided by the broker to a trader. It allows you to open a much larger position with minimal investment. Leverage can magnify your potential profits and at the same time can magnify your losses.
Auto trading is a program that creates automatic orders and submits them to a market exchange. These systems can perform repetitive tasks at high speed. It can also provide social copying or mirroring the positions of experienced traders with a proven success record.
Trading with Coinscord means a wallet is not required by the trader, since the trades are performed though our SSL secured online trading platform, this is a big advantage in avoiding potential hackers and theft.
Advantages of Ethereum Technology
The app can never be turned off
Applications are protected against fraud and hackers due to the secured cryptography
It cannot be censored, since the apps are based on the principle of a group decision-making process
A third party cannot make changes to any of the data
Ethereum has more applications than Bitcoin
Mist browser is the interface and digital wallet for Ethereum users. With it, people can store, trade, and manage their contracts. Mist and MetaMask (another browser) help to make blockchain-based applications easily accessible.
Ethereum is moving forward with its user-friendly platform, which enables people to make use of blockchain technology.
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Ethereum Price and Market Factors
It has been noted that Ethereum can be far more than a digital asset. Its value is in the powerful blockchain programming language called Solidity. Its goal is to be something totally different from all other coins. With its increased application, there is a rise in demand by developers for “Ether”.
The price of Ethereum has soared recently and has been reaching all-time highs. Bitcoin has also been surging, and when that happens it does boost investors' desire for other cryptocurrencies where gains can be acquired. Since Ethereum and Bitcoin are not competing, both can benefit when one rises.
Random events can happen to affect the ether price rise or fall, such as the flash crash of Ethereum’s value overall, which took place in June 2017. The Ethereum news and crash happened within a very short span of time, literally seconds after a major sell-off prompted other traders to liquidate their digital currency. However, in that situation within seconds computer algorithms were buying again and the price was recovering.
As you can see the volatility of digital currencies alters prices within a second. The general public and investors all had the same questions when this happened as to how the rebound can take place and its timeline. Any strong value increase can eventually lead to a price correction. As with the cryptocurrency market or any market in general, the momentum can slow down at some point.
Thirty big banks, tech giants, and other organizations including J.P. Morgan Chase, Microsoft, and Intel are uniting to build business-ready versions of the software behind Ethereum. Its ability to record and execute transactions without the need of a middleman is making this blockchain technology more popular among businesses.