If you want to make a technology investment then at present Ethereum (currently at $730) is considered most promising one to invest in. Another interesting (or, very interesting) fact about this crypto-coin is that from its inception in 2016, it has grown at an astonishing rate of more than 1,100%, a good reason to start investing in Ethereum.
Our aim here will be to analyze some other reasons which help to answer the question – why you should purchase Ethereum.
Why You Should Purchase Ethereum? Let us Find Out
Many analysts are estimating that Ethereum (ETH) will easily cross the $1,000 mark by the end of the year and in the long run it may well move into thousands just like its senior counterpart, the Bitcoin. Thus, if you are really serious about making a profitable investment then Ethereum is the cryptocurrency to invest it.
So, what Ethereum actually is?
Ethereum is actually one of the open source blockchain networks that is considered superior to other networks (we will look into the details in the following sections).
To start with, you need to be aware of the fact that when you buy Ethereum, you will be buying digital currency for the network which is known as Ether. Moreover, this currency (Ether) is also what powers the whole network and by buying the same, you will be making an investment in this network itself. This is also the reason why most of the exchanges make use of network’s name (Ethereum) itself rather than Ether.
Let us now move to the core topic of our discussion, why you should purchase Ethereum.
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Why You Should Purchase Ethereum? – The Top Reasons
Reason #1: Availability of Supporting Higher Number of Applications
The main highlight of Ethereum network is that it makes use of keystone technology, the blockchain and in addition to it, it is considered more advanced in comparison to blockchain that is utilized by Bitcoin. Why? Let us go through the details here.
An important thing about Ethereum blockchain is that the code language used for the same is Turing complete language that is able to run any kind of algorithm. Additionally, the blockchain is also able to record things quickly in comparison to Bitcoin (as for instance, Ethereum is able to process transactions at a rate of twelve seconds while Bitcoin takes about twenty minutes.