Top Benefits of Ethereum.

Hello all,

Though Ethereum has invented 2015, it is the second biggest of world cryptocurrencies. Here are the top benefits of Ethereum.

  1. Ethereum network comes with EVM (Ethereum Virtual Machine) which makes it turing-complete.
  2. Ethereum is almost a brand new platform.
  3. Ethereum can develop many decentralized applications.
  4. Apps which connected to Ethereum almost never go down and cannot be shut down.
  5. Ethereum reinforces the financial department for the company.
  6. Ethereum is gaining speed and momentum faster compared to Bitcoin.
  7. Ethereum blockchain can transfer funds very easily for making payment.
  8. Ethereum has no limit on Bandwidths.

Best of luck and Happy trading with Ethereum. 🙂

@krafa Good points, Appreciated your points, could you please tell us why should we use Ethereum instead of Bitcoin or Litecoin?

@john Okay john have a look, actually many reasons behind this. Ethereum currency has seen more than impressive growth. As of the beginning of 2018, it successfully surpassed 4 digits USD value for a single coin. The main advantage is the use of Ethereum on the backend, which is now used by many others to build blockchain based decentralized applications. It is way easier to understand and learn that the code behind bitcoin. For this reason, Ethereum has relevancy like no other and is being used by many institutions for all sorts of things.

@john said in Top Benefits of Ethereum.:

Ethereum instead of Bitcoin or Litecoin?

It depends on how do you compare them and what do you want to use them for. Ethereum is better than Bitcoin and Bitcoin is better than Ethereum at the same time.

  1. Really some good points and that is why Ethereum is the second largest cryptocurrency in the world behind Bitcoin. It's been actually growing a lot faster than Bitcoin. BTC has grown around 300% this year but ETH is up about 4000%.

@krafa Ethereum acts as a platform for other products and services, allowing for a robust ecosystem to grow around the system. This means that as time goes on, more and better information will be published about Ethereum, making it easier for developers to enter and contribute. Other blockchains just don’t have this network effect working for them.

These are very good and valid points. Thanks for sharing @krafa

There is currently no limit to the supply of Ethereum. However, this can change at any time.

Vitalik Buterin, Ethereum co-founder, recently tweeted an April Fool’s joke about capping the Ethereum supply. He stated that, although it was a joke, if the community votes the proposal through, then the supply would be capped. The Ethereum governance model allows for modifications like that.

Exactly! The benefits of Ethereum outweigh its disadvantages clearly. It has a block time of 15 seconds which translates to confirmations for multiple transactions in under a minute. However, the median rate of $0.85 might be a concern for a few people.

Just a few thoughts

    • Not many apps/techs are going to be using ethereum in its current form
    • From a project management point of view, high scaled ethereum is not a given at this point. I am not sure if even the people working on the scaling solutions knows how much it would scale.
      "it doesn't matter how much your theory matches your worldview or what you wish to be true, if it disagrees with experiment, it is wrong"
    • About the median rate and block time, somebody has got to pay. Either through inflation or fees. Even with sharding, wouldn't block time be depended on the decentralization of the network?
    • As for network effect, that tide can always turn anyway it wants in such nascent technology.

The good news is, if we all contribute and do our part, we could make it all a success.

I see a lot of great reasons why Ethereum is a superior platform here. Trying not to get too biased, obviously, maybe we could speak a little bit to Ethereum's scaling issues as a platform?

Would solving these problems (through Sharding, Casper, Plasma, etc.) distance ETH from the pack?

I wrote a reply, but didn't have permission to post, so I started a new topic: Ethereum v.s. Bitcoin, a Data Driven Comparison. Maybe it was because I included images.

How do you think Ethereum compares to EOS? Dan Larimer seems to think his project can give Ethereum a run for their money.

@pcssj said in Top Benefits of Ethereum.:

How do you think Ethereum compares to EOS? Dan Larimer seems to think his project can give Ethereum a run for their money.

Hey, @pcssj.

@Samuele provided a great comparison of ETH and EOS in this thread: https://blockchainforums.info/topic/214/eos-yes-or-no/5 .... He thinks EOS might surpass ETH in market cap sometime within the next year.

There's another good comparison post that you'll see if you scroll down in that thread. Some really good stuff, I'd recommend checking it out and sharing your thoughts. 🙂

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