Ethereum: The Next Cryptocurrency

The need for decentralized currency that was free from the control of entities gave rise to Bitcoin. Bitcoin ushered in a modern age of finance, with a greater efficiency in performing transactions. The cryptocurrency was much appreciated because it abolished the need to carry cash and credit or debit cards around. That practice was becoming obsolete anyway, and was more prone to robbery and theft.

With Bitcoin, people could be walking around with millions of dollars virtually stored in their phones or cold storages and encrypted to prevent hacking. Using Bitcoin, people could send money to their friends halfway across the globe without having to wait days due to Western Union's long processing times. Transactions between countries could be performed in less than an hour, with very minimal fees. People could work for foreign companies and get paid without any hassle because many companies and networks began implementing Bitcoin as a mode of payment.

And then there was a boom; a crypto boom is the best way to explain it. Wallets were created to store your Bitcoin securely; as the right investors saw its uses, so did thieves and hackers. Then talented developers began to wake up and see the prospects and profits of a decentralized currency that is quite secure. And they also began to see the lapses and loopholes Bitcoin had. Then, they created their own cryptocurrencies that would better serve people all over the world.

Today, there are various forms of cryptocurrencies including stablecoins such as tether that are designed to be immune to market volatility. The price of Bitcoin was infamously unstable in these eleven years it has been in use, and this has resulted in losses for investors. But with stablecoins, you can have the assurance that your coins will always maintain a near-constant value at all times. Also, there's Stealth which was created to ensure anonymity of transactions at all times. Both wallet addresses and transaction amounts and details are obfuscated to protect them from hackers.

So now, the question remains: What is the next Bitcoin? What is the next big cryptocurrency that will lead the markets and amass a high number of investors and profit? It is the next in line to Bitcoin, and is very popular among cryptocurrency enthusiasts and investors. This crypto is called Ethereum, denoted by ETH and it is the next-generation Bitcoin. Here's a question has often been asked: What's so great about it anyway? ETH is far much more than just another cryotocurrency, the term used to describe Bitcoin. The only reason why it is behind Bitcoin, is perhaps because Bitcoin is more popular (a status that is fast changing), older in the business and this Bitcoin is still leading the global markets. But by logical reasoning, ETH has surpassed Bitcoin's qualities and is fast rising.

Ethereum has become a phenomenon described as a "ledger of technology". Several networks, website, applications and platforms render their services and provide earning methods for users built and based upon this ledger. There are newer social media platforms that are based upon the Ethereum blockchain. This said, account holders on these services can earn ETH while making posts, chatting and getting engagements. ETH probably Bitcoin's upgrade as some have cheekily mentioned, through its blockchain is known as 'Blockchain two-point-zero".

In addition, transactions on the ETH cryptocurrency are much faster than on Bitcoin. As said, it is based upon its software and technology, so purchases and deals are performed quite faster, often in less than five minutes. Furthermore, it provides a platform to build ETH-based apps called dApps. These apps are built upon the cryptocurrency's own programming language called Solidity.

Finally, from all that's said, it is obvious that Ethereum took the innovation behind Bitcoin and then upgraded it. It is important to know that Ether is the token being mined and transacted upon. Ethereum is simply a generalized platform that manages the use and trade of ether and its implementation on the dApps. So when people use ETH, they are aware that they are making use of a multifunctional platform which can be used to develop profitable websites. Simply put, Ethereum is a glimpse of the future of cryptocurrency, and none of the newer developed cryptocurrency can match its amazing features.