If you have any knowledge at all about blockchains, then you have most likely heard of Etherem, also known as Ethereum. This project is the brainchild of Vitalik Buterin and Evanially known as “heythonic”. This project was started as a private company with the intention of making an open source protocol that could be used in conjunction with other protocols to create a completely free and open distributed ledger. Although it has already gained momentum within the finance industry, there are many more uses for this cutting edge technology that can be implemented in just about any industry. Let us take a brief look at some of the possibilities that can be had by using this cutting edge technology.
The reason that Ethereum is being called a Cryptocurrency is because of its unique design as compared to other currencies. Unlike regular currencies, such as gold and silver, the units of ether will always be tied to the amount of money that was invested in the currency during its creation. Since ether is purely digital, it will always be backed by actual cash that was obtained from a transaction. The only real limit to the future availability of ether is the amount of computing power that is available to all of the individuals that actually created it. In the future, there may be no need for banks to operate this currency. In the meantime, ethereum tokens can be traded for traditional currencies.
There are a number of reasons as to why developers are gravitating towards the ethereum platform as a means to build their projects. One reason is because it is free. Developers that are working on their projects using the ethereum virtual machine will not have to pay anything to do so. While otherICO, Waves, and Accra are all proprietary currencies that cost a significant amount of money to purchase and hold, the ether token is completely free. This means that eulators will not be forced to hold onto their currencies for dear-old-love sake.
Another reason as to why the ethereum platform is attractive is because it supports several different types of Cryptocurrencies. Many businesses are now operating on the ethereum network because it supports four different types of Cryptocurrencies. These are the ethereum classic, Mist, eToro and Maidsafe. With each one of these coins a user has the ability to use their own private copy of the ethereum virtual machine which is how they can transact on the market.
If you are planning on using the ethereum network to trade eurities then you will be happy to know that you will be able to buy and sell them at a full value. You will be able to make trades on the spot, limit orders, set stop losses and customize many of the features that are available with most brokers. All transactions made with the ethereum virtual machine will be secure and are reversible in nature. Transactions are recorded in your private and secure server on the ethereum network and will remain private until you either delete them from your server or commit them to the public domain. There are no fees associated with using the full value feature. Users will only be billed when they wish to transfer the asset.
However, outside developers do not have access to the private server at the moment. This is where the Buterin project comes into play. The Buterin software will allow ethereum smart contract programs to interact with the ethereum network. This is done through the use of an off-line browser and it is expected that the functionality of this functionality will increase with the implementation of MetaTrader 4. However, it will still be quite some time before users will be able to run eContracts in the browser. At this point, Buterin is being used as a bridge for compatibility purposes by both e Contracts and eProtocols alike.
Many people are wondering what they can use e Contracts for aside from being used for eCommerce. Developers are wondering what they should be looking to do if they are not interested in building their own smart contracts. With Buterin being used for this purpose, it should not be too difficult to find an eCommerce solution which uses the Buterin smart contracts platform. Since they are interchangeable, it makes it easy for users to switch between platforms without having to learn a new smart contract programming language.