Ethereum (ETH) is practically the latest type of cryptocurrency that was introduced way back in June 2015. It permits the users to send and receive all types of payments through the internet. This does not require the involvement of any central authorities, taxes, regulations like Bitcoin. Since, ETH is based on an idea of decentralized and programmable platform that uses smart contracts this is what that makes it different from the other cryptocurrencies. Such contracts aid in creating proficient economic organization systems for various types of projects like banks, gambling sites, enterprise solutions apps where every transaction is based on a unit called Ether. The technique, in which this smart contracts of Ethereum work, very soon it will transform the entire concept of cryptocurrencies and their usage in the field of gambling. Till now, the rate of ETH has gone up by 300% when you compare it that of Bitcoin.
Presently, the Ether coins have gladly been accepted in almost any Ethereum casino that you would come across. The prime reason behind it is, its vast range of applications. This feature has made ETH so popular all over the world. It is just perfect if you are in search of any safe and secured financial transaction. Mentioned below are some of the advantages of using Ether coins:
- Application platform – The biggest advantage of using ETH is that it works based on a technology that permits the computer applications to run on a specific network. The Ethereum network deals with smart contracts, apps and the virtual currency Ether.
· Block-in period – This digital currency Ethereum practically has very short blockage period which makes the platform very efficient. It has the ability to create the transaction records at a very fast speed compared to Bitcoins. This makes the transactions faster across all networks.
· Mechanism – Just like Bicoins, ETH currently utilizes the mechanism of Proof of Work (POW). As per this system, the first miner goes for block reward. The Ethereum network is gradually shifting to the Proof of Stake (POS) mechanism. According to this, the user having the highest account balance is tagged as the guarantor who is capable of creating blocks within the chain.
· Economics – The economic model based on which Etherium runs is very much different from that of Bitcoin. In case of Bitcoin, the block reward turn out to be half after every 4years but Ethereum is known for releasing the same amount of coin each year.
Since, ETH is at its infancy stage, there is a big advantage of using it. There are great chances of it turning technologically advanced in the near future. NXT has taken the responsibility to bring in a lot of improvements in this digital coin. Ether coins can be used a lot conveniently in a lot of transactions.When compared to the other crypto coins its potential is huge and the developers are highly committed to make it as the leading digital currency industry. If you still have any doubts about its future prospective, then you should practically try playing in an Ethereum casino.