What Is Ethereum?
It is basically the third Crypto Currency. Just like Litecoin, You may even call it the silver to the gold that is Bitcoin. Ether was launched in 2015, approximately six years after Bitcoin and four after Litecoin. It was another decentralized crypto Currency, this one with a big difference.
Unlike, Litecoin and Ethereum with there upper limits, there is no upper limit to Ethereum. None at all, it can keep increasing in value for a long, long time
Then how is Ether value controlled?
If Ethereum has no cap on Ether, how can it be controlled? The answer is that the owners have put in a maximum inflation increase of 26% on the currency. This is interesting, and it makes it very different from other currencies. It also means that even at its worst, Ethereum expects the value to double every two years.
Ether Mining Without ASIC Mining
Like Litecoins and Bitcoins, Ether too has its own algorithm, it’s called Ethash. Ethash is different from both Scrypt and SHA-256. There is one similarity with Litecoins though. Ethereum can not be mined using ASIC systems. This is good news for those who mine, however. ASICs, like we mentioned previously, are more expensive. ASICs are also hard to get, and normal GPU’s can not compete with them.
Average Transaction Fee
It is cheaper than Bitcoins, but more expensive than Litecoins. The average transaction fee of Ethereum is 0.8 Dollars, per transaction. However, the average transaction fee of Bitcoins is 2.70 dollars per transaction, but the average of Litecoins is 0.08 dollars. That is a massive difference once again. The average block time is around seven seconds.
Ethereum has been around for nearly three years now. It is a fast and stable currency, with lower transaction costs, as we showed above. In terms of Crypto Currency, it has already passed the critical period. Now it’s value can only increase. It’s time to invest in Ethereum, and mine it. This is because it is still relatively new, thus profits will be higher. However, it is still not as stable or as widely used as Litecoins, or Bitcoins. We will cover the comparison of the two in our next article