Ethereum (ETH)

Simple Explanation - Ethereum is a fully decentralized entity not controlled by any organization or person. By investing in Ethereum you are actually investing in the infrastructure. Ethereum uses blockchain technology as a secure way to store, track, and transfer information. The downside of Ethereum is the connection can be slow, and can charge higher fees, known as gas. Imagine a bank vault that opens and shows a hallway leading to other bank vaults. Each vault is full of information and to get to the next vault you have to travel through the previous vault. These vaults are indicative of blockchain technology. Blockchains are a growing list of records, or blocks that coincide with the block prior. This makes it extremely secure because to change the current record you’d have to change the prior. Just like the bank vaults: you can’t walk into the next vault if you can’t get through the first.

A crypto experts explanation - Ethereum is an open source decentralized blockchain. Ethereum is both the company and the token. The ticker symbol for Ethereum on The Global Digital Asset Exchange (GDAE) is called ETH. By investing in Ethereum you are actually investing in the infrastructure. This infrastructure is one of the most secure and is not restricted to the financial world. With the ability to be utilized in other ways, supply chains, medical records, audit information, etc.; it is a multifaceted efficient, low cost, secure infrastructure. Although it is the most secure blockchain of cryptocurrency, Ethereum is known for having high transaction fees and slow fulfillment times. The network is known as ERC-20 which is the token standard for the platform. ERC tokens are special forms of smart contracts that utilize the Ethereum blockchain, rather than having their own blockchain like Bitcoin which is built on SHA-256. ERC Tokens can have different functions and multiple combinations of features. ERC tokens can be Fungible, Non-fungible, and Semi-fungible.