Ethereum (ETH) is the second-largest cryptocurrency, which has helped to show how significant blockchain technology is and the potential it has to transform the world. This is due to its link to a slew of ground-breaking technologies, such as NFTs. It is a distributed and decentralised computer system, that features smart contracts. Moreover, Ethereum is an open-source platform used by developers and computer scientists. Although most people believe that Ethereum is a regular cryptocurrency, in reality there is much more you may not know about. If you are curious about Ethereum (ETH) or you are considering it as an investment opportunity, here are four interesting facts, that you might not have heard.
It Is More Than A Cryptocurrency
Firstly, Ethereum is more than just another cryptocurrency and its importance is often misunderstood. Ethereum is a cryptocurrency platform and programming language, that allows users to decentralise any network-wide function. It also provides developers with access to a range of capabilities, such as decentralised applications (dApps). For instance, developers can build games on top of Ethereum instead of counting on a single game engine. Another example that can illustrate the significance of Ethereum is that the majority of cryptocurrencies on the market at the moment are based on the Ethereum network.
It is Not Bound By Limits
While Bitcoin is limited to a certain number of coins, after which its number will stop increasing, Ethereum is not bound by the same limits. This makes Ethereum an attractive investment opportunity to consider. Also, you can quickly buy ETH with a credit card or other payment methods on popular marketplaces, such as Paxful. This is a people-powered marketplace, which allows users to buy ETH from other investors around the world and use it where they need it most. Moreover, no banks or intermediaries will be involved in the process. Therefore, if you want to buy ETH with a credit card or a debit card, you can do this securely through Paxful.
It Was Funded Through Crowdfunding
Many cryptocurrencies begin with an initial round of funding from a range of donors. However, this was not the case for Ethereum, as it raised its first capital through crowdfunding. The principal creator of Ethereum is Vitalik Buterin, which he created in 2013. He was unable to make it a reality due to a lack of funding, but fortunately for him online public sales began in 2014 and as a result, Ethereum came to life in 2015 and received public acceptance.
Many Large Businesses Support Ethereum
Ethereum is among the few cryptocurrencies that has sustained institutional and retail acceptance. At the moment, the Enterprise Ethereum Alliance brings together some of the biggest corporations in the world. Among the most significant corporate participants are JP Morgan, Toyota Research Institute, Microsoft, Samsung, and Accenture. In addition, banks have favoured Ethereum for a long time, showing great support for it. As all of these firms are dedicated to the growth and development of Ethereum, future acceptance of Ethereum is almost guaranteed. Combined with the fact that Ethereum can be found on major cryptocurrency exchanges, it is likely to gain even more interest from various organisations.