Ethereum is the most promising technology investment out there. It's quickly proving to be one of the most profitable investments of all time.
Since its birth in 2016, the digital currency has grown by over 1,100%.
On its way up, it has made paupers into millionaires. And its growth is accelerating. If you had bought Ethereum in February, you would have tripled your investment by now.
At Ethereum’s current growth rate, $500 dollars can be expected in the near future. Digital currency analysts think that we could see $500 before the close of the year.
In the long-term, the currency is projected to enter the thousands. That means if you want to get in on this investment, you need to buy now.
For those of you who don’t know what Ethereum is, it's important to understand that it is much more than a digital currency.
Ethereum is an open-source network. It is far superior to any other blockchain network. (I will go into the details of blockchain in the next section.)
For now, know that when you purchase Ethereum, you are actually purchasing the network’s digital currency, Ether. Ether powers the Ethereum network so by purchasing it, you invest in the network itself. Hence why all the coin exchanges use the coin's network name, Ethereum.
This means that every time you buy Ethereum, you are putting money into the most powerful network that currently exists. And the potential for that network is endless.
For the investors who are still speculative, the Ethereum facts detailed in this report should put you at ease and have you rushing to the exchanges.
As a whole, digital currencies have a lot of selling points. They are fast, effective, secure, and hyperinflation-proof.
But the main selling point remains the keystone technology for digital currencies: blockchain.
Bitcoin was the first coin to ever operate on a blockchain network. Every transaction that takes place in the Bitcoin blockchain is recorded in a separate "block." This block is then attached to a long chain of blocks.
Because each block is stable, every transaction is a strong link that makes the overall blockchain secure and increases currency stability. It is the perfect digital ledger.
But Ethereum’s blockchain is far more advanced than Bitcoin's.
Ethereum is written in Turing-complete code language. For a computer to be Turing-complete, it must be capable of running any algorithm. Because of Turning-complete language, any script can run on Ethereum. The Ethereum blockchain records things far more rapidly than Bitcoin — processing transactions in 12 seconds, as opposed to Bitcoin’s 20 minutes.
This makes the Ethereum blockchain the best network to support any business or program. Its ability to solve problems with accuracy and precision has no rival.
Imagine that you took the engine out of a super car and popped it in a run-of-the-mill Honda.
Now, let's pretend that there are no technical inconsistencies and your car runs on the super engine. You just created a dynamically faster car with the same body. That is what Turing-complete language does for the Ethereum blockchain.
Its speed and flexibility have attracted the attention of dozens of companies, all of which are vying to be the first to profit from an Ethereum network.
This brings us to our next point: Hundreds of major companies have Ethereum’s back.
Many of them are trying to incorporate this technology into their businesses as we speak.
One of the strongest pieces of evidence for Ethereum’s long-term prospects is the Enterprise Ethereum Alliance (EEA).
Back in February, multiple major companies — including dozens of Fortune 500s — decided to collaborate on furthering the Ethereum network technology, with the goal of incorporating it into their businesses. This group includes companies like Intel, Microsoft, J.P. Morgan, BP, and Thomson Reuters.
These companies don’t take risks lightly. They have maneuvered their ways to the top through brilliant executive decisions and continually developing business models.
Ethereum spiked sharply after the EEA came public, touting big names like lollipops for hungry investors.
These companies want Ethereum for dozens of reasons. They want the blockchain for its speed and efficiency. But they also want the Ethereum network for its ability to execute smart contracts.
For those of you unfamiliar with smart contracts, it's a contract in the code that dictates action.
Take this example: In the physical world, you have an agreement with your sibling that if you hit them, they get to hit you back. If you throw a punch, they can retaliate.
Now, say this interaction was happening in the code world. A smart contract receives the first transgression (you punching your sibling) and then executes the appropriate reaction (your sibling hitting you back). You need smart contracts to move things along efficiently. And for a blockchain network, they are invaluable.
Ethereum’s creator, 23-year-old developer Vitalik Buterin, developed Ethereum specifically to work with smart contracts.
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Before creating Ethereum, Buterin was heavily involved with Bitcoin and blockchain. He realized early on that Bitcoin’s inability to process smart contracts was a major shortcoming for the currency network.
Ethereum’s network possesses something called an Ethereum Virtual Machine (EVM), which processes smart contracts and makes charges or decisions accordingly.
The EVM would rapidly speed up business processes, increasing efficiency across the board.
Every action that happened would receive the correct response immediately. It doesn’t matter if it is a payment, transaction, demand, etc.
And in the business world, efficiency is money.
That is why you see so many trendsetters in the EEA. These companies have CEOs who have predicted trends time and time again.
They know by being an early mover in Ethereum, they are positioning their companies for monumental growth down the road.
And investors are taking note.
Many investors have bought stock of early Ethereum movers, knowing that the company will benefit in the long term.
Ethereum will eventually expand and be incorporated into every business, which brings us to our final point: bank adoption and mainstream use.
No digital currency is as well-positioned as Ethereum to be adopted by the masses.
And this adoption starts with the institutions that digital currency could potentially destroy: banks.
Bitcoin is a bit of a villain in the banking community. It poses a threat to our current monetary system — a threat that gives it a lot of value in the eyes of many individuals.
But banks are looking kindly on Ethereum, which will allow them to thrive in our increasingly digital world.
Bank of America is the first financial institution to work with the Ethereum blockchain. The company premiered an Ethereum-based application that will help customers secure their transactions.
This application was created with the help of Microsoft, with the goal of speeding up mainstream adoption of Ethereum technology.
The application packages customer information into blockchain packets that can only be accessed by the private parties involved in the transaction. This prevents the information from being emailed out, eliminating multiple privacy concerns.
Ethereum’s ability to secure our finances is phenomenal. But both Bank of America and Microsoft want the application to be more than a security resource. It has to be a pioneer, winning the trust of the public.
This will be one of the first Ethereum-based applications that everyday consumers will interact with.
Technology adoption happens slowly and often without consumers knowing it.
When consumers upgrade their MacBooks or buy new iPhones, they are being guided by Apple to adopt new technologies. A similar thing will happen with Ethereum blockchain, which will slowly be incorporated by big companies and then trickle down to their clients and customers.
But big companies that push mass adoption will give Ethereum a leg up on other technologies.
And investors should take note that Ethereum is the only technology being incorporated by major institutions — even though these corporations have had more than 10 years to collaborate with Bitcoin. That alone assures Ethereum's long-term profitability.
There is simply no denying it — Ethereum is the current winner of the digital currency race.
It has the ability to topple Bitcoin, rebuild outside of the internet, and change the way we do business and protect our private lives.
And Ethereum isn't hard to invest in. You just have to go through the correct channels.
Currently, the most popular digital currency exchange is Coinbase. Coinbase allows investors to buy Bitcoin, Ethereum, and Litecoin. More promising digital currencies may be added in the future.
When you sign up on Coinbase, you can pay with your bank account, credit card, or PayPal.
You should keep your phone handy because Coinbase will ask you to authenticate your account through a code sent to your mobile device. This process may seem tedious, but it is important to secure your coins in our digital age.
Now, if you choose not to use Coinbase, there are many other digital currency exchanges out there. Just be careful and do your research. With the digital-currency gold rush has come digital-currency crooks. And there are fake exchanges that will take your payment and never produce the promised coins.
The best way to check is to look at the website's domain name. If it does not have "HTTPS" in front of the name, do not invest. This website is not secure and encrypted. More than likely, it is a scam.
With all of the information in this report, you should feel confident venturing into Ethereum investing. Ethereum, like any of its digital currency peers, is volatile. It is best to invest for the long term and hold. As more companies become involved, Ethereum will continue to gain value. We will not be in triple digits for long.
If you would like some more information on opportunities in the world of digital currency investing, you can watch the latest presentation put together by the experts here at Wealth Daily.
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