Advantages and Disadvantages of Ethereum

A big advantage of ETH for new consumers is that its price is lower, making it easier for the consumer to buy large quantities of the coin. ETH’s vote is also lower than that of bitcoin, an example of this is when bitcoin reached 60 thousand dollars and in less than 1 year it dropped to less than 50 thousand dollars we see that it is a good and big drop. Another advantage is that because it has a lower price, it is easier to carry out technical analysis in the price tables.

less popular advantage

If you ask any friend or family member to speak the name of a cryptocurrency, there is a 90% chance they will speak Bitcoin. This is because of the financial media that love to publicize the ups and downs of bitcoin and many famous people who only talk about this currency, but there are other currencies that few talk about and therefore have less competition. Many financial market professionals believe that ETH will pass the BTC.

Advantage is the safest currency in the world, according to surveys.

Ethereum, in addition to being a cryptocurrency, also has a platform capable of storing encrypted information. Therefore, it is considered one of the safest in the world!

Disadvantage of some more expensive transactions

The cost of smart contracts is much more expensive. According to the Ethereum protocol, transaction fee = quantity of gas x gas price, According to the Ethereum protocol, transaction fee = quantity of gas x gas price, where the quantity of gas is determined by the complexity of the smart contract , and the gas price is determined by the initiator of the contract. What does this mean for developers and users? While reading the local blockchain is free, writing and computing are expensive and storage is especially expensive, because any written information will be stored permanently.

Advantage Ease of contract creation

Ethereum allows the execution of smart contracts and brings revolutionary solutions beyond cryptocurrencies. Ethereum is considered by many to be an evolution of the Blockchain concept, allowing anyone to create decentralized applications for various purposes.

Advantage of Smart Contracts

At a deeper level, Smart Contracts are virtual agreements, which dictate rules regarding programming codes, encrypted through a blockchain. The term smart contract or “smart contract” can refer to any contract that is capable of being executed or executed on its own, formalizing negotiations between two or more parties, dispensing with centralized intermediaries.

Token Creation Advantage

In Ethereum, other cryptocurrencies can be created. Using Ethereum’s own ERC-20 token standards, you can create your own token and program desired currency characteristics, such as security, parameters to which smart contracts are subject. As of October 2019, more than 200,000 ERC-20 compliant tokens existed on Ethereum’s core network. The ERC-20 is vitally important; it defines a common list of rules that all Ethereum tokens must follow.

Definite advantage

DeFi comes from the collective term for products and services that are accessible to anyone who can use the Ethereum cryptocurrency. Anyone in the world with an internet. Decentralized financing does not depend on other people or companies, instead it uses smart blockchain contracts.

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Post Written and created by Bruno Costa