You’ve heard about Ethereum, but you’re not quite sure what to make of it.
How is it different than Bitcoin? How does the technology work? And most importantly, is it a good investment?
Cryptocurrencies continue to creep more prominently into popular media and the public consciousness. Bitcoin is at the forefront of the industry, and is at the forefront as always.
Most people have a very rudimentary knowledge of Bitcoin as a currency, but very few have any understanding of Ethereum.
So are they (and you) missing out? That’s still up for debate.
There is plenty to know and admire about Ethereum. It could pave the way for technology in the future. Major influencers in the technology space have seen the tremendous value Ethereum’s underlying premises offer.
It not only provides an alternative cryptocurrency to Bitcoin, it opens up the opportunity to build applications that improve efficiency and reduce costs across industries.
Ethereum enables the use of “smart contracts,” which is changing the face of multiple industries through its many applications.
We’ll cover exactly what this industry-disrupting technology does in a minute. A brief summary is that these smart contracts allow you to set up automatic transfers, payments, and escrows with Ethereum.
Ready to jump into the world of cryptocurrency?
Then you need to speak the language.
You wouldn’t presume to become a Wall Street expert without knowing what stocks are.
Yet everyday, thousands of amateur investors jump onto the cryptocurrency bandwagon without a clue behind the terms.
They skim the details, ignoring terms like “blockchain” and “altcoin” because they sound too complex.
Well, I’m not going to let you fall into that trap. By the end of this article, you’ll understand the exact meaning of the most common words in the cryptocurrency world.
And armed with that knowledge, you’ll be able to make smarter investments.
Let’s jump in!