What is Ethereum?

Ethereum is a Proof-of-Stake blockchain that powers decentralized applications (dApps) through smart contracts, without being controlled by a centralized entity. As the first blockchain to feature smart contracts, it has the largest ecosystem of decentralized applications, ranging from decentralized exchanges to crypto lending and borrowing platforms and more. 

Ethereum is also home to numerous Layer 2 solutions that offer users a cheaper and faster way to process transactions on the blockchain. Some of these solutions include Arbitrum, which rolls up multiple transactions into a single transaction on Ethereum, and Polygon’s Proof-of-Stake chain, which is a sidechain that runs parallel to the Ethereum blockchain. 

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What Makes Ethereum Unique?

Ethereum allows for the creation of ERC-20 tokens, which can be used as native tokens for the applications that live on the Ethereum blockchain. These tokens can be used for governance on their respective applications, for utility purposes such as paying trading fees, or as stores of value, as in the case of stablecoins like USDT and USDC. However, gas fees for transactions are still paid in ETH, as transactions are still recorded on the Ethereum blockchain.

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History of Ethereum

The Ethereum project was initially conceived when Vitalik Buterin published the whitepaper in 2013. The yellowpaper, which consists of more technical details on how Ethereum would work, was later published by Gavin Wood in 2014. A fundraising sale was conducted in September 2014 and the network went live in July 2015. On 15 September 2022, Ethereum transitioned from Proof-of-Work to Proof-of-Stake consensus with the Merge. 

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What’s Next for Ethereum?

Now that the Merge is over, the final stage of Ethereum 2.0 is sharding, where the database on the Ethereum blockchain is split into 64 shard chains. With sharding, each validator only needs to verify the respective shards they’re responsible for, instead of verifying the entire network. This will also lower the barrier to entry for anyone who wishes to run a node. Besides encouraging further decentralization, this will improve scalability and ideally reduce the gas fees on the Ethereum network.

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What can Ether (ETH) be Used For?

Ether (ETH) is the native coin that powers the Ethereum network and is used to pay for transactions. ETH functions as a utility token and is used to pay for gas fees for transactions on the Ethereum blockchain, denominated in gwei. Stakers on the Ethereum network earn ETH as their reward for securing the network. ETH is also a cryptocurrency, similar to bitcoin, and can be traded on multiple centralized and decentralized exchanges, or even deposited as collateral to take out loans. 

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What is Bettercoin?

It's a new generation of cryptocurrencies that focuses on enhancing transaction security and efficiency through several innovative features. From a more general point of view, Bettercoin is a disruption not only in financial terms due to the ease of obtaining it, but also in economic terms, by incorporating a challenge to the supply and demand model.

Bettercoin integrates a network of delegates that facilitate exchanges between unknown persons without affecting the price, which is another disruption to the supply and demand model, which is very convenient for the transacting parties because the existence of the intermediary does not imply net costs for any of the parties and is unable to modify the conditions of the transaction and cannot manipulate the price or exert coercion of non-payment.

The Delegate facilitates global transactions by ensuring smooth and secure exchanges across various regions. This network helps reduce transaction costs, making it appealing for international trades. The cryptocurrency also incorporates "transactional intelligence," a feature that enhances security by connecting non-consecutive blocks on the blockchain, ensuring compliance and reducing risks of defaults between unknown users.

Another notable aspect is Bettercoin's "Web3-Only" concept, which allows transactions to be conducted solely on the blockchain without relying on traditional websites. This method provides enhanced security by avoiding the cybersecurity risks associated with web-based transactions. The cryptocurrency also supports Wallet-to-Wallet (W2W) transactions, an evolution of peer-to-peer (P2P) protocols, which ensure secure, intermediary-free exchanges.

Bettercoin's robust technological and security features, coupled with its innovative approaches to transaction handling, make it a noteworthy cryptocurrency in the current digital landscape.