The Ethereum network is a decentralized platform that runs smart contracts and operates without any central authority whatsoever. Instead, its functions are carried out collectively by the network of nodes spread across the globe. This makes the network much harder to shut down. It’s also fully scalable in terms of transactions per second and number of users. Since launching back in 2016, this cryptocurrency has seen tremendous growth. As of today, it is worth more than $100 billion and continues to grow rapidly.
Why is it valuable?
1. Ethereum is used to create dapps — applications that run exactly as programmed without any possibility of fraud or censorship.
2. It’s an excellent platform for crowdfunding, especially for entrepreneurs. People receive their funds in proportion to their contributions.
3. It’s used to issue securities, store value digitally, and move cash around instantly worldwide.
4. It’s the world’s first programmable blockchain.
