WHAT IS ETHEREUM?

ONE MORE STEP IN THE ERA OF CRYPTOCURRENCIES

We live in the era of cryptocurrencies, alternative currencies that move in the digital medium whose control is not centralized and are regulated through the so-called chains of blocks. It is an alternative to the classic financial system with a new formula that provides more security and stability. It is a concept that began to be forged at the end of the nineties of the last century and that became a reality in 2009 with the launch of Bitcoin.

Especially when talking about cryptocurrency, anyone will immediately think of Bitcoin. Although it is the main and most popular, it is not the only one. In 2015, software developer Vitalik Buterin launched Ethereum. It is a smart contract platform that uses a cryptocurrency called Ether. What are its advantages? The main one is that it allows economic transactions, sales or contracts to be carried out without the intervention of third parties. They are called smart contracts. In this way, bureaucracy is eliminated without losing an iota of security. Ethereum is in charge of executing what has been agreed by both parties when they have fulfilled the contract. It is a kind of executing program that monitors the process and, when the agreed circumstances occur, opens the tap.

Although Ethereum is the name given to the system created by Vitalik Buterin and Ether is the cryptocurrency it uses, currently the word Ethereum is used to refer to both concepts. An important chapter is knowing its value. Ethereum is a cryptocurrency that fluctuates, just like classic currencies.

Where can we pay with Ethereum

Ethereum, the most valuable cryptocurrency in the world after Bitcoin, is an established reality and also works with guarantee and success. Today, it is possible to pay with Ethereum after many companies have been aware of its potential and the security it provides to the client. Official Magic Hair is one of them. In this way, the possibility of an economic transaction being intercepted by a "hacker" or "malware" vanishes. This is synonymous with greater peace of mind and confidence. But apart from this guarantee, there are other advantages of paying with Ethereum.

• Cheaper operations. The absence of intermediaries makes many of the operations that are carried out with the Ethereum system cheaper, as far as classic currencies are concerned.
• Faster. Unlike what happens with Bitcoins, the Ethereum system greatly shortens transaction times. Even operations can be carried out in a matter of seconds.
• Dual function. In addition to being able to buy in Ethereum, this platform has the function of making smart contracts, being able to work with security and financial certificates.
• Important support. One of the reasons for the credibility and security that Ethereum offers is that it is supported by numerous companies that already work with this cryptocurrency. On this list there are firms from all sectors and that has raised the price of virtual currency.

The best cryptocurrencies

Although it is something new for many and very recent, there are currently some 2,000 cryptocurrencies on the market. An overwhelming offer that makes it essential to know which ones work best. What is clear is that the advantages of using them are numerous. We will cite four of them.

• One of its great values ​​is the speed with which transactions are carried out, which sometimes does not exceed a few seconds.
• Its operation is also transparent as it is not centralized in a single organization as is the case with the dollar or the euro, to give two examples. Anyone can access the ledger, something that would be unthinkable with traditional currencies.
• Another unique feature of cryptocurrencies is their hacker-proof security. Likewise, operations cannot be reversed except by the person receiving the payment.
• International operations are easier when operating with a common currency that is increasingly accepted by more and more companies and financial institutions.

Taking into account its advantages, we are going to review the best cryptocurrencies that currently exist in the world and that have a greater market capitalization.

• Bitcoin . Although it has suffered numerous ups and downs, Bitcoin, the first cryptocurrency to hit the market, still occupies the first position in all the lists. Experts say that its trend is upward, although it has increasing competition.
• ethereum . It is the second most used cryptocurrency after Bitcoin. It is more varied by allowing the development of smart contracts with its platform.
• Litecoin , created by ex-Google employee Charlie Lee in 2011, was released as an alternative to bitcoin.
• Bitcoin Cash . Generated to process more transactions per second than Bitcoin.
• DAI : A virtual currency that can be used by anyone, anywhere and at any time. Dai is a stable, decentralized currency that does not discriminate.
• USD Coin : The USD Coin (USDC) is a type of cryptocurrency that is also called “Stablecoin” or stable price. So called thanks to the fact that each USDC is backed by one US dollar, reserved in a bank account .

How to buy with Ethereum in Official Magic Hair?