Advantages and disadvantages of ethereum

There are many advantages and disadvantages in trading ethereum. Let us first take a closer look at the advantages of ethereum code.

  1. Ethereum created a platform for the complex contracts to run on the network by allowing for a Turing complete language on the blockchain. There will be no third parties interference in many cases. This makes ethereum more special and powerful than a lot of other blockchains.
  2. Ethereum is so rich in corporate clients. So, in recent times, the price of ethereum has rocketed. The Ethereum Enterprise Alliance is collaborating with a dozen and dozens of companies in all verticals from banking to healthcare. There is no other cryptocurrency which can fight with the ethereum
  3. Ethereum is well planned about its reach after four years. So, it is implementing that roadmap rigorously. This is a platform with a clear vision of what it wants to achieve.

Disadvantages:

  1. The speed of transactions is not so good and ethereum is not a platform which is as efficient as other faster cryptocurrencies. Many trades have suffered from this disadvantage.
  2. The worst thing about this Ethereum code is the lack of documentation. Documentation helps the people become developers, but ethereum is not a master in the documentation. Most of the online content is not updated and out of date, also it does not even cover the basics.
  3. There will be upgrades all the time and this sometimes moves from a proof of work platform to a more efficient platform. This is a tricky and risky upgrade which will make the developers always busy.

 

    Applications developed on Ethereum:

Ethereum is capable of opening up the world of decentralized applications even to the people who are without any technical background. Ethereum can be easily accessed by its native browser. The browser will provide a user-friendly interface as well as a digital wallet for trading and storing ether. Some of the applications developed on ethereum are given as follows:

  • Gnosis:

It is a decentralized prediction market which enables the users to vote for anything from the weather to the election results. The users have the choice of voting what they want to.

  • EtherTweet:

This application will provide the users with an uncensored communication platform from the functionality of Twitter.

  • Augur:

This is an open-source prediction market which rewards correct prediction.

  • Ethlance:

It is a freelance platform used to exchange the work for Ether rather than any other currencies.

  • Alice:

Alice is a platform to bring the transparency to social funding and charity. It can be done using blockchain technology.