Ethereum is an open-source decentralized platform for managing smart contracts, which was developed by a Canadian programmer Vitalik Buterin in 2013. The Ethereum mainnet, however, was launched only in 2015. Ethereum, implemented as a virtual machine (EVM) and an open source platform, simplifies the blockchain adoption worldwide. Ethereum’s goal is to enable developers to run their own decentralized applications (DApps) with the help of an open distributed network.
Ethereum blockchain produces its own cryptocurrency named Ether. The currency has ETH ticker.
Fractional parts have their own names: 1/1000 – finney, 1/106 – szabo, 1/1018 – wei. The names are given in honour of the people who played a significant role in the blockchain movement.
Due to the general market volatility, ETH price, as well as ETH rate, constantly vary. However, it remains in the top three cryptocurrencies by capitalization according to CoinMarketCap.
In 2016, after finding the vulnerability in DAO (Ethereum-based decentralized autonomous organization), the hard fork of the Ethereum blockchain was implemented. Part of the community disagreed, so as a result, the Ethereum blockchain cracked into two branches: Ethereum itself and Ethereum Classic – the part of the community which refused take part in the fork. Now, these are two separate blockchains with two different cryptocurrencies.
How To Buy Ethereum?
You can buy, sell, and exchange ETH for other cryptocurrencies and for fiat money, thus Ethereum wallet is needed.
There are lots of cryptocurrency wallets on the market: some are multicurrency wallets, some are intended for managing Ethereum as a single currency. To choose the robust wallet and to be sure your ETH assets are protected you need to understand the principles each wallet works on and the way it ensures your security. Guarda Wallet is one of the most secure and user-friendly solutions currently present on the market.
Ethereum ensures safety via the so-called gas technology.
Each operation in a smart contract requires a certain amount of gas while its amount in the block is limited. It makes the creation of the infinitely complex smart contract impossible: because the gas is fee-based, and the network is protected from spam.
The smart contract technology increases the security level in the business transaction as it gives partners an opportunity to run their business without relying on each other’s good intentions: all the settings are specified in the smart contract and thus are not likely to change spontaneously. As a result, technology makes all the trust issues irrelevant.
Guarda Wallet is a multicurrency non-custodial light wallet. We support the most popular coins and tokens, and Ethereum is one of them. It is easy to use, you don’t even need to create an account and you can feel secure about your ETH coins – we do not store any of the users’ personal data.
Guarda was designed as an interface where clients can manage, store, transfer, and receive coins and tokens.