Ethereum "King of altcoins" Why it is?

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Written by
3 years ago
In community: Earn Money(a25b)
Topics: Ethereum, ETH, Altcoins, Defi, Dapp, ...

So the most heard and used and popular crypto other than bitcoin is ethereum. There is a reason for it write. Lets look into it rite now.

Disclaimer: I am not your financial adviser and all information available below are for purely educational purposes. Please verify all of the Information before using it and don't make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

Welcome to cryptounique now, pls consider subscribing for more information like this. Now lets jump rite into the moon.

Lets start with what is Ethereum and who created it?

Ethereum is a decentralized smart contract computing platform that enables developers to build decentralized applications (dapps) on top of its public Ethereum blockchain. It’s by far the leading blockchain platform and is the second-largest cryptocurrency by market cap, right next to Bitcoin. Ethereum is programmable and its digital currency Ether can be used for more than payments. It can be used in decentralized financial services, games, and apps that can't steal your data or censor you. 

Ethereum was founded by Vitalik Buterin who proposed a whitepaper titled " Ethereum: A Next-Generation Smart Contract & Decentralized Application Platform”. After creation the project really took off when Anthony Di Iorio, Charles Hoskinson, Mihai Alisie, & Amir Chetrit joined Buterin and develops it to become reality.

The Ethereum we know today is going to transform from proof of work mechanism into proof of stake mechanism that eth 2.0 is coming. Ethereum’s upgrade to Proof-of-Stake will not rely on miners or work, but will instead rely on validators (virtual miners) and deposits of Ether (ETH) as the stake. Ethereum’s PoS system is poised to improve security, scalability, and energy efficiency.

About ETH token

Ethereum’s native cryptocurrency Ether (ETH) is an inflationary currency with a total and circulating supply of 112,068,383 ETH. Unlike Bitcoin, which has a capped supply of 21 million BTC, the supply of ETH is not capped.

Now lets jump into the good part!!! 

Why Ethereum is king of altcoins?

Ethereum is the most famous next to only bitcoin. It is the second largest cryptocurrency by market and the very first smart contract blockchain platform that allows developers to build decentralized applications (dApps). The reason Ethereum is the king of altcoins are

  • Ethereum has the largest ecosystem next to none

  • It has by far the largest developer community in the crypto market.

  • More than 70% of all tokens are created and running on ethereum

  • There are over 2, 700 tokens according to CoinMarketCap and more than 80% of them are Ethereum-based ERC-20 tokens.

  • It has a strong use case that drives demand for a cryptocurrency.

  • 1897 of the 2638 dApps are built and running on the Ethereum blockchain. That means that more than 70% of all cryptocurrency dApps are built and running on Ethereum and Ethereum 2.0 is not even live yet

  • The entire DeFi ecosystem is built on Ethereum as per data from DeFiPulse as seen below.

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Avatar for cryptounique
Written by
3 years ago
In community: Earn Money(a25b)
Topics: Ethereum, ETH, Altcoins, Defi, Dapp, ...

Comments

That's a great article, and eth 2.0 is here finally let's hope it solves some of the problems including gas fees!

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User's avatar howtoearnbitcoinonline
3 years ago

I think it is a amazing idea

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User's avatar Ame.opurbo.3069
3 years ago

Niceeeeeeee

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User's avatar ashfi222
3 years ago

I use Ethereum currency than other currency in most of my trading transactions caused it can be trade easy into the other Altcoins as they are also based in ethereum chains and affiliates.

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User's avatar kira18
3 years ago

Ethereum block chain network has actually made the activities in the world of Crypto more easy than it would have been if it's not in existence. It's also created more awareness for the adoption of cryptocurrency more than any other network. Nice article

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User's avatar PersieKing
3 years ago

tq:)

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User's avatar cryptounique
3 years ago

Oh dear i really thankful to you for share this important article.to read your article i found out about Ethereum "King of altcoins.

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User's avatar Mazed50
3 years ago

Alhamdulillah very nice article thank you

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User's avatar Najukhan
3 years ago

i like Etherscan transaction system about Etereum.very cool.

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User's avatar shoemake117
3 years ago

If you want to get to know someone, first lend him money, then it's time to pay back, then you can see what he looks like as a human being,

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User's avatar Kyasen
3 years ago

This is really amazing nice nice of

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User's avatar Ibrahim11
3 years ago

I do appreciate seeing this post this might may help a lot of people in any cryptocurrency I know that's really amazing I would like to join it also yes is not out all right but it's a good one to have in your 2020 144 you

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User's avatar Ibrahim11
3 years ago

ETH2 or v2.0 will make this coin even more appealing to investors, using PoS instead of PoW without losing functionality (tokens, smartcontracts) and more scalable meaning leaser fees. Yet is not out favorite but is a good one to have in your 2021 portfolio.

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User's avatar Monolith
3 years ago

Hmm, so I think it is a good idea to buy Eth 2.0 as it focuses on PoS? what do you say? I would like to know because I also believe the Ethereum future is bright.

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User's avatar Eybyoung
3 years ago

u can buy eth now it wont make difference after successful launch of eth2.0 the eth1.0 will be automatically transformed to eth2.0. comment down below if u guys need a detailed article

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User's avatar cryptounique
3 years ago

Oh so the eth we have right now will become eth 2.0 if the launch is successful? sure you can write detailed article about it I will look forward to that

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User's avatar Eybyoung
3 years ago

yep

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User's avatar cryptounique
3 years ago

Is an excellent idea if you can buy 32 ETH 😉 That will be the minimum stake. But seriously just to benefit from the future prices yes is good idea. Also we will be probably seen staking platforms offering shares for ETH stake (probably)

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User's avatar Monolith
3 years ago

don't stake eth now it is slated to have a massive bull run so don't stake now that is my advice

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User's avatar cryptounique
3 years ago

Oh, so we should just hodl it and don't stake??

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User's avatar Eybyoung
3 years ago

that depends if u have so much eth to spare staking is like a passive income an u don't need to risk anything. For regular person like u and me u can join in a staking pool. Or just simply hodl it in a wallet like celsius or blockfi u can get interest on your eth there. If u wanna learn more about crypto lending visit here https://read.cash/@cryptounique/top-crypto-wallets-to-place-your-crypto-safely-and-also-earn-passive-income-from-it-40df5ba8

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User's avatar cryptounique
3 years ago

Well, I currently stake at nexo. Which is better? Is it lending? or staking? I am not so sure with what I do 🤣🤣

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User's avatar Eybyoung
3 years ago

what u are doing in nexo is lending not staking. crypto.com is an example of staking platform in there u need to stake a minimum of 3 months for reward. Nexo, celsius, blockfi are lending platforms in true sense u are lending them your crypto in return for interest.

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User's avatar cryptounique
3 years ago

Ahh, I see. My gosh, I didn't know that I even publish an article the first time staking in Nexo lol. What a shame, anyway thank you for answering my questions..

So what about soft staking? like in Binance?

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User's avatar Eybyoung
3 years ago

it is good sometimes u can withdraw depends on the asset on which binance provides but they have less return comparing to other platforms. Celsius is the best if u wanna know wht is the best out there but do your own research before investing

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User's avatar cryptounique
3 years ago

Okay, I have been reading numerous feedback that Celsius is the best. I will check on that later I will research.. does Celsius is older than nexo?

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User's avatar Eybyoung
3 years ago

yes celsius is older nexo is actually a new player

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User's avatar cryptounique
3 years ago

I see, I will probably check Celsius. Thanks for answering all my queries.

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User's avatar Eybyoung
3 years ago

no problem i will always be ready

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User's avatar cryptounique
3 years ago

lending is always better than staking. u can withdraw your crypto anytime if u lend if u stake u cant withdraw for a specific time period so choose yourself

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User's avatar cryptounique
3 years ago

Oh, okay I see now the difference but usually staking and lending has the same interests right??

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User's avatar Eybyoung
3 years ago

no if u take crypto.com for eg if say u stake 1000 cro tokens in staking they will only provide interest on those 1000 tokens while the staking ends. while wallets like nexo they are providing compounded interest that means u can earn interest on interest on your total investment for nexo it is daily

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User's avatar cryptounique
3 years ago

Oh, so in staking, they will only give the interest when the locked period ended? while in lending they give interest whether daily or weekly and the amount you lend is withdrawable anytime, am I right?

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User's avatar Eybyoung
3 years ago

yes u are rite

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User's avatar cryptounique
3 years ago

Gees! 32 ETH is a huge amount in our country, I think I cant afford it so I cant participate in staking lol.🤣

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User's avatar Eybyoung
3 years ago

u don't want to stake that much eth directly u can join eth staking polls. if u want to learn more about it comment down below

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User's avatar cryptounique
3 years ago

Sorry to ask, but am really new in the crypto space. Is eth and eth2 different coin? Will the price of eth be affected because of eth2?

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User's avatar Jane
3 years ago

It is still ETH but with different technical capabilities. Is the best way I can explain it. Is a full upgrade. The price will be affected of course, many will want to buy (and bull run, or so they think).

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User's avatar Monolith
3 years ago

Thank you. i only have little eth on my wallet.. But planning to save more..

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User's avatar Jane
3 years ago

no it is not a different coin . think of it as a software upgrade like from say android 9 to 10. eth 2.0 address some draw backs of eth1.0 or just eth and is stated to launch coming dec if all goes well

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User's avatar cryptounique
3 years ago

Oh thank you.. I don't actually read articles bout eth that much so am not updated about that.. But eth is a good investment. Its value keeps soaring just like BTC. And technology-wise... they have it.

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User's avatar Jane
3 years ago

thanks u jane for your support i will try writing in way any newcomer in crypto can understand. and i would love to clr your doubts anytime:)

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User's avatar cryptounique
3 years ago

Nice article about eth. I'm not a fan of it because of its availability and transactions fee but I hope this will change in the long run.

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User's avatar Soul16
3 years ago

they are trying to change it with eth2.0

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User's avatar cryptounique
3 years ago

i don't know why but it is

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User's avatar farihax
3 years ago
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