Ether network – level 3

24-08-2021 07:00

Ether is a technology that lets you send cryptocurrency to anyone for a small fee. It also powers applications that everyone can use; however, they can’t steal people’s data or censor.

The network recently turned six years old, and it has established itself as the most actively used blockchain network while its native token, Ethereum, is the second largest cryptocurrency by both market capitalization and daily use.

The emergence of decentralized finance allowed users to trade, borrow, and lend directly with one another without involving banks. The launch of Ethereum 2.0 should reduce fees and provide much faster transactions. Investors are seeing Ether as an ideal complement to Bitcoin.

Difficult words: blockchain (a database that stores blocks of data and then chains them together), market capitalization (the total value in a money of a company’s shares), decentralized finance (when people do business without a bank or a government to be part of the business), complement (a thing that goes well with another thing and makes its qualities more noticeable).

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