Bitcoin is the most popular cryptocurrency and is hugely popular among beginners in this market. But you should watch out for other ICO’s and top coins like ethereum and its currency Ether. Refer link www.bbntimes.com//en/technology/understanding-ethereum to know more about it. If you are among those who are watching the market, it is a good move to buy or just hold on to Ether despite its value relatively less compared to BTC. Its value is growing rapidly and making the holders of this coin-rich. In the long run, this currency is expected to enter the thousands mark, and hence it is the right time to invest in it if you already do not hold it.
Ethereum is not just a digital currency, but much more, it is a blockchain network and is open source. When you purchase Ether the money of Ethereum you are not just investing in the currency, you are buying a part of that robust Ethereum network. The growth potential of this network is enormous and so is the value of Ether. If you are still not sure, you should put your money in Ethereum or not, here are a few reasons.
Is faster than Bitcoin: Digital currencies are known to be quick and secure. But the USP of it is still the blockchain technology. Bitcoin was the first to use this network, and each transaction that happened on the network was recorded as a block and recorded in a public ledger for access. You can have a series of blocks attached to it, and each block was secure and stable. But Ethereum came up with a far better blockchain technology than Bitcoin as it was written using the Turing complete language. Due to that language Ethereum can run any script and the transaction can be completed in 12 secs compared to Bitcoins 20 minutes making it the best network to do business. That speed has many companies vouching and vying for the Ethereum network to use this technology in their business.
The backing of top companies: There are many companies which are working with the Ethereum technology to use them in their business. Companies like Intel, Microsoft, JP Morgan, etc. want to collaborate with Enterprise Ethereum Alliance to improve this network. These companies want the speed and accuracy of the blockchain technology and also want to use smart contracts as Ethereum developed this mainly to work with smart contracts.
Incorporated by Financial Institutions: Banks and other financial institutions are adopting this digital currency, unlike Bitcoin which is disliked by banks as it is a threat to the banking system. Ethereum and its technology have created a reputation for being a friendly technology which will help the banks to thrive in this digital world. Banks have started using apps based on Ethereum to provide more secure banking to its customers. The app creates a blockchain packet of information which is accessible only by authorized parties. As more companies adopt their technology Ethereum value is bound to go up, and as an investor, you should take note of this turn of events.