Many people consider Ethereum as the second-best cryptocurrency in India. It is acomputing platform based on blockchain technology that enables developers to build decentralised applications. There are many features of Ethereum that makes it different from other cryptocurrencies including Bitcoin. These are mentioned below-

  • Smart contracts
  • Ethereum allows the development and deployment of smart contracts in its network. A smart contract is a computer program that facilitates the exchange of valuable digital assets between the parties. The most important feature of a smart contract is that it cannot be altered once executed. So any transaction done within the network is recorded permanently. If you try to modify the contract in future the existing transaction will not get affected or altered.

  • Ether
  • Ether (ETH) is the fuel that runs the ethereum network. Like bitcoin, ether is also based on peer to peer cryptography. Along with the being a medium to pay transaction fees, it is used to buy gas. This gas is further utilised to pay for the computation of any transaction made on the ethereum network. Hence, Ether is also a distinct characteristic and valuable digital asset of Ethereum.

  • Ethereum virtual machine
  • EVM is designed to operate as a run time surrounding for compiling ethereum based smart contracts. In general, it is the engine that understands and runs the smart contracts. Only the user of ethereum have acces to the services. If an investor or trader is looking for a such opportunity and quality services in the cryptocurrency worl then etheruem can be the best suitable option to commence with. Being the second largest crypto, it is available in every crypto exchanges in India.

    These are the three essential features of ethereum. Furthermore, ethereum network promises real-world applications ability to store value. This element can also contribute in defeating bitcoin in the upcoming years.

    Apart from the features mentioned above, there are some expert advice and observation which aids in ethreum’s popularity and usefulness. One such common and evident aspect is as folows-

    Ethereum eases worldwide payments

    Ethreum has classified itself very beneficial asset for the long term perspective. It supports the development of new infrastructure and commodities more than other crypto assets. ETH is used to pay these transactions which has increase the name and fame of NFTs in the market.
    Therefore, despite the recent hit, ether survived it that too by rising nearly 1000 percent over the last 12 months. This was a commendable rise witnessed in ether which gathered much attention of the crypto users. Due to high level security and top class payment sercis, ethereum based apps are booming in the market.

    Today, ethr is priced at INR 224850.73. This price is expected to move up with a huge difference in the near future. Ethereum can potentially beat bitcoin if continues to grow the same way. However, theses market are very uncertain and dynamic, anything can happen any time. Hence, try to be updated with the recent news about crypto assets or chack it yourself with the help of different websites of reliable crypto exchange platforms like Wazirx.

    Author's Bio: 

    I am a Crypto enthusiast and a blogger by passion. I am writing now about blockchain and cryptocurrencies trends, sometimes covering importance of bitcoin for various other industries.