What Is Ethereum?

In essence, Ethereum is a platform in the cryptocurrency market, which was launched in 2015 and helps create applications that are operated on blockchain. Although Ethereum popularity rose and declined within a year after its launch, it still holds the second position in the market after Bitcoin. But Ethereum comes with several factors that make it significant despite the changes, and here are some of the reasons why it is doing so well in the crypto market.

One of the things that make Ethereum stand toe to toe with the competition is that it is decentralized, just like Bitcoin, but the currency has the potential to be even more successful. The fact that it is decentralized makes it waterproof, since every participant doubles as both a server and a client, giving it resilience and security. This keeps hackers at bay, as well as ensuring no downtime in case technical difficulties.

Besides, another aspect of blockchain that makes Ethereum strong is the integrity of data. In this case, anyone can access records of any transactions ever made on the network, and locate the sender and receiver. Not forgetting, the records cannot be altered, making them safe all the time. This strategy makes it impossible for someone to use coins that they don’t have, which makes it ideal for payment protocol.