Ether is a cryptocurrency from the Ethereum Blockchain. Ethereum Blockchain has superpowers called Smart Contract and Dapps. Smart Contract is an enabler of things, anything literally! Heard of NFT? Well yes, most NFTs are built on Smart Contract principle on the Ethereum Blockchain. Could you ever imagine an image selling for $680,000? I am wishing I was an artist. More recently, a digital artist named Beeple sold an NFT of his work for a whopping $69 million. Yeah, it is about time we cried.
For simplicity, let's take a simpler use case from applications in the banking and financial sector; when your policy/bond matures smart contract enables automatic transfer of funds to the bearer’s account without the involvement of a third party. This makes the process more logical and convenient. Microsoft Azure backs Ethereum with offerings as EBaaS. Therefore, if you are a blockchain believer you must consider Ether.
Where is the problem? As believers of the entire crypto ecosystem, we must acknowledge coming days could be darker for our environment with more carbon footprint. For instance, the entire Ethereum network alone consumes power more than the county of Tanzania annually. In another context, a single transaction carbon footprint in Ethereum Blockchain is equivalent to the carbon footprint of 65,848 VISA transactions or 4,952 hours of watching Youtube and let us all remember that individual online streaming is already very bad. Energy efficiency is going to be the key but for now, the prospects for Ether look good.
Cryptocurrency is just a child; blockchain is the parent and has the superpowers to enable it. Bitcoin is a cryptocurrency that is leading the race for now but any cryptocurrency can become the most popular in say 20 years, this is going to be a long race, and it is just the beginning. And blockchain technology is the undisputed champion!
In the past 6 months, the price of ETH has increased from $350 to $1700 as of 31.03.2021. 10x or 20x further move from here!? Maybe, maybe not, we will see! Ether is the cryptocurrency from the Ethereum Blockchain.
I am no expert in the field so please do your research. A source worth mention in this regard: Investopedia