After Bitcoin, Ethereum is the leading cryptocurrency by market cap. At the heart of Ethereum is an open-source software platform built on blockchain technology. Ethereum aims to make it easier for developers to build, test, and deploy decentralised blockchain applications. Ethereum has already found a phenomenal amount of success, especially when compared with the fortunes of most new tokens, but it can still climb higher.
Unlike Stellar and Ripple, the underlying token of the network is Ether (ETH). As well as serving as a tradeable, valuable, and popular cryptocurrency, Ether also provides a way for application developers to pay for fees and services on the Ethereum network.
Another key selling point of the Ethereum network, and one of the main driving forces behind its success and potential, is its smart contract capabilities. Smart contracts are essentially pieces of code which specify a trigger and an event. When the conditions for the trigger are met, the event will automatically execute. While any blockchain network has the ability to process these smart contracts, most are severely limited in hat they can do. By contrast, Ethereum offers developers the ability to specify just about any kind of operation they choose.
Ethereum’s fortunes have been steadily rising for some time now, but it seems likely that it has some way to climb before approaching its zenith. The biggest selling point of Ethereum is its versatility. The ease with which applications can be developed for Ethereum, compared to a network such as Bitcoin, is certainly important as well. There are a great many institutions and services out there which could potentially benefit from the implementation of smart contracts, Ethereum provides the perfect platform for these businesses to use.