What is Ethereum And How you can earn from it?

What is Ethereum And How you can earn from it?

Ethereum is the second largest cryptocurrency in the world after Bitcoin. Ether is the token of or the currency generated by Ethereum. Ether uses smart contract technology. Ethereum is a decentralized virtual machine which can execute public nodes from all over the world. This provides a Turing machine completeness which is called “Gas”, an internal price mechanism it is used to mitigate the spam and allow to allocate the resources on the network.

It was founded by Vitalik Buterin a programmer and cryptocurrency researcher the Development was done by an online crowd sale that happened between July and August 2014. The System begin on 30 July 2015. On that day 72 million coins or ether were minted which are 65% of total circulating supply 

As Ethereum is decentralized it is not controlled by any bank, government firm, even any company does not control it. The information is stored on the Ethereum networks all over the world. These technologies keep a track of the transactions for every ether. Ethereum uses a blockchain technology it means that every virtual coin for say have a timestamp, hash, identity and transaction it is nothing but a list of entries encrypted in a hash value which are of the same length and does not depend on the value of entries. To store the the ethers, you require an Ethereum wallet.

What is Ethereum Wallet?

Ethereum wallet are used to store the private and public keys of your device. It means that when we want to transfer the money the sender of the money changes the public key in blockchain and if it matches your private key you receive the money. Now don’t get confused that private and public key are same so they get matched up and you get Ethers. When you are looking for Ethereum wallet, there is a need to understand the concept of MyEtherWallet Login. This particular Ethereum wallet is very safe and easy to access. There is a program running under the hood which lets us enter the public key and generates a private key then whose key matches get the mints. There following type of Wallets 

  • Hardware: – These wallets store their private keys and public keys on a hardware that can be any hardware like hard disk, usb, etc. These wallets are more secure than software as they are not exposed to internet every time. When a person wants to transfer the money then he plugs in with a computer with internet and enters a pin and now he or she can transfer the money.
  • Software: – These wallets store the keys on a particular app which can be approached on a desktop, mobile, online these are more open to hackers and crackers but they can be approached any time.
  • Paper: – Paper wallets are the most secured one as they just print the keys on a physical paper or a print these are just these can be generated through a software.

This is also called paper wallets as it generates the key at the moment.         

Now the million-dollar question is how we can earn from Ethereum

  • Mining of Ethereum: – If the electricity rates are low in your area you can try mining the ether Now what is Mining of Ether. It means that you let your computer hardware be in use and sort through block which eventually creates the blockchain now the issuer of currency can pay you digital coin.
  • Lending Ether: – Same as traditional loan we can lend Ether on some interest overall it is same as lending someone a loan with cash but with the modern currency
  • Investing in Ether: – Well the obvious should be mentioned that is investing basic rule is invest at a price and sell at as you need
  • Becoming an Ethereum Freelancer: – A rising job opportunity is an Blockchain programmer on an average an experienced blockchain programmer can earn upto 300k USD per year and as there are a few skilful programmers in the field you can take part in learning it and making it your full time job.
  • Blogging: – In the world something new will come up Internet goes wild and bloggers present the view about the product or explain how you can use it. You can become a Ethereum blogger and post about the stuff which can help future investors or miners or programmers
  • Make Ethereum DApps: – Another booming industry is DApps or Decentralized Apps are a programme which can run on a P2P network or on a blockchain network, when the whole app is set up you can earn money without any major supervision.There are dapps for finance, gaming, work, social media

Well to put concisely Ethereum is a cryptocurrency which everyone can use for normal trading or invest and no one has control on it as it is highly decentralized and distributed. In order to execute it properly we must apply MyEtherWallet Login. It uses blockchain technology which consists timestamp, hash, Identity which would be running on several computers so it safest as well cause if anyone cracks it from a computer we can know from other.           


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