Founded in 2015, Ethereum is the 2nd largest cryptocurrency in the world, behind Bitcoin. Ethereum (ETH) is a decentralized program platform that empowers SmartContracts to be assembled and operate with no downtime, fraud, interference or control from a third party. It is also a programming language running onto a blockchain, enabling programmers to build and publish distributed applications. This makes the program ideal to function as a digital currency, but also have many applications outside of cryptocurrencies.
The applications on Ethereum are run onto its platform specific cryptographic token. Ether (the token for ETH) is like a vehicle for moving around on the Ethereum stage, and is sought after by developers looking to develop and run applications inside the program. Ether can be used broadly for two purposes: It is traded as an electronic digital money exchange like other cryptocurrencies and is used inside the program platform to run applications and monetize work. The creators of Ethereum state that it might be employed to “codify, decentralize, trade and secure pretty much anything.”
Ethereum is one of the best cryptocurrencies to swing and day trade, as it has a large range and liquidity. Cryptocurrencies are an incredible new frontier in the financial markets. To prepare yourself to capitalize on this exciting new opportunity, check out our Cryptocurrency Trading Chatroom.
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