You have heard of thorium and maybe have even considered investing in it. If you are new to tokens, then you should know that ether is one of several major currencies that are traded on the GTC network. It is essentially a digital asset. Just as gold is physical gold and silver are also metal, so too are these different token types. There are gold and silver coins, as well as several others. The most valuable among these though, are the ether coins.
Vitalik Buterin is an ethidium promoter. He created and co-founded the ethereum project with the intention of making it a global computer network. With that goal in mind, he created ethereum’s smart contract platform. It was supposed to replace the various intermediaries that transaction money and other value-bearing assets on the marketplaces. Now, ether is used for all sorts of smart contracts on the network.
How does it work? There are three components to the smart contract system of ether. First of all, there is etheric execution. This is what allows smart contracts to send instructions to automatically execute within a set date and time. The instructions can be anything from a line of code, an announcement, or an announcement that is broadcast to everyone on the network.
On top of that, there is ethereum’s Mist wallet. With this, any developer who wants to do some “paperless” backtesting without needing to download the entire ledger is able to use the Mist browser. Because of this, ethereum has become something of a platform that is being used for testing out different applications, as well as for developing smart contracts. Without the need to download and install the entire bitcoin wallet, the programmers can test out their programs and make changes to them while they are still in development. It is pretty impressive what the developers have been able to do with ethereum.
Now, we need to know what makes up the backbone of this new decentralized exchange – the ethereum protocol. The protocol enables the use of ether within the network. Basically, anyone can create an account, called an ethiopilot, and start trading. They can then put their money into this account and begin buying and selling ether as they see fit. As we mentioned earlier, ether is being used for a variety of smart contract projects – these are just some examples of how the entire ecosystem will develop.
In the coming months and years, there will more than likely be several different platforms that emerge based on ethereum. The big four cryptosystems that are slated to emerge will be: Maidstone, Bancor, Quorum, and thorium. Each one of these will strive to offer a different function to users, and each one will also provide a new way for users to interact with the Ethereum network. Ultimately, there will be a very high value of interacting with the network. But what does all this have to do with the future of ethereum?
Well, one of the reasons why we think ethereum is going to be such a powerful platform for the future is because of how it can enable complete flexibility in how the network is setup. For example, when you perform an ether transactions on the traditional exchanges, there is a limitation on how much money you can input. But, in the future, we are expecting to see a lot more flexibility with how this works. Now, when you compare the prices of both ether like gold, you will understand why we think ether sales will increase quite significantly in the upcoming years.
Another reason why we believe the future of ether is bright is because it provides a way for miners to profit from their transactions. Basically, miners make their profits by making the long-term investment in the infrastructure that the entire community of investors and entrepreneurs need to work together to maintain the integrity of the ledger. With the help of a good software program, the miners can be paid for processing their transactions rather than by the actual amount of work they put into the project.