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what is ethereum

What is Ethereum

While Ethereum is commonly known as a cryptocurrency, it is actually much more than that. Ethereum is a decentralised platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third-party interference. These smart contracts are stored on the Ethereum blockchain, a public ledger that records all the activity on the network.

The Ethereum blockchain is designed to be resistant to censorship, meaning that no single entity can control or delete data stored on the blockchain. As a result, Ethereum provides a trustworthy and tamper-proof platform for developers to build decentralised applications (dApps). This feature has led to the development of a vibrant ecosystem of token standards, tools, and services that are all built on top of Ethereum.

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Understanding Ethereum

Ethereum’s native token is called Ether (ETH). As with Bitcoin, Ether tokens are mined by computers solving complex mathematical problems. These tokens can be used to purchase goods and services or exchanged for other cryptocurrencies.

There’s no doubt about it; Ethereum is on the rise. In just a few short years, this sophisticated cryptocurrency has gone from being a relatively unknown altcoin to one of the most popular digital assets in the world. And with good reason – Ethereum offers a unique value proposition that powers the next generation of decentralised applications. From finance and healthcare to supply chain management and beyond, Ethereum is well on its way to revolutionising many industries. With its growing popularity, Ethereum is poised to become one of the most important cryptocurrencies in the years to come.

History of Ethereum

Ethereum was first proposed in 2013 by Vitalik Buterin, a Canadian programmer. Buterin had previously worked on Bitcoin’s open-source codebase and was interested in creating a blockchain platform that would be more than just a digital currency, particularly one that could run smart contracts.

After failing to gain traction for his proposal within the Bitcoin community, Buterin decided to create a new platform with a more generalised scripting language that developers could use to build a wide range of applications. This new platform, which became known as Ethereum, launched in 2015 with a crowd sale that raised $18 million.

Since then, Ethereum has become the second-largest cryptocurrency by market capitalisation after Bitcoin. It is also one of the most popular platforms for building decentralised applications giving it real-world utility and value.

How Ethereum Works

Ethereum works similarly to Bitcoin, but it also has its unique features and applications.

Like Bitcoin, Ethereum is a decentralised platform that runs on a blockchain. This blockchain is a shared public ledger that records all of the transactions taking place on the network.

All of these transactions are verified by nodes on the network, which are computers running the Ethereum software. These nodes work together to ensure that all of the transactions on the network are valid, and they are also responsible for ensuring that no individual can control the network.

The Ethereum blockchain is different from Bitcoin’s in that it can be used to run decentralised applications (dApps). No single entity controls these dApps; instead, they run on the Ethereum blockchain. This quality makes them more resistant to censorship and fraud, as there is no central point of failure.

To run a dApp on the Ethereum network, developers need to use a programming language called Solidity, specifically designed for writing smart contracts. Smart contracts are pieces of code stored on the Ethereum blockchain. Developers can use them to run dApps or to store data.

Ethereum also has its own cryptocurrency, called Ether, which is used to pay transaction fees and gas costs on the network.

Ether can also be used to pay for smart contracts. When a person creates and runs a contract, they can specify how much Ether they want to pay to have it executed. This system ensures that there is an incentive for people to run contracts on the network.

Ethereum 2.0

Ethereum 2.0 is the next major upgrade to the Ethereum network. It’s designed to improve the network’s scalability, security and efficiency and is the biggest shakeup to the network since its launch.

The main features of Ethereum 2.0 include:

  • Sharding:

Sharding divides the blockchain into multiple smaller pieces, which can be processed in parallel. This upgrade will improve the scalability of the network and make it possible for more transactions to be processed per second.

  • Proof of Stake:

Proof of Stake is a new consensus algorithm that will replace the current Proof of Work algorithm. Proof of Work is energy-intensive and can lead to centralisation as only a few people can afford to run the necessary hardware. Proof of Stake is more efficient, allowing anyone with a computer to participate in securing the network.

 

  • Casper:

Casper is a new smart contract that will be used to implement Proof of Stake. Casper will allow users to stake their Ether and be rewarded for doing so.

  • Beacon Chain:

Beacon Chain is the central component of Ethereum 2.0 and will coordinate the different shards.

  • Ethereum Virtual Machine:

The software that runs on Ethereum nodes will be updated to support sharding.

Ethereum 2.0 is still in development, and the exact details of how it will work are still being finalised. However, the upgrade is expected to revolutionise the Ethereum network further and position it as the leading platform for decentralised applications.

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How to Get Ethereum

AQRU is transforming the way people invest in crypto. With our easy-to-use platform, you can earn high-yield returns on your digital assets with just a few clicks. We pay competitive rates on your holdings daily and automatically reinvest them to compound your earnings.

For useful guides on how to get set up and started with ETH investing, head over to our Help Centre.

Follow these simple steps to get up and running:

Deposit

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Deposit funds into your new AQRU wallet via bank transfer, debit/credit card or crypto transfer.

Invest

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Invest in ETH with confidence and security.

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Sit back and enjoy earning daily compounding interest on your investment.

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Advantages of Ethereum

Ethereum has several features that make it a popular choice for developers and users. The main advantages of Ethereum are:

  • Potential for high returns

The price of Ether has grown exponentially in recent years, and it’s expected to continue to rise as more people use the network.

  • Decentralised

There is no central control point, making the network more resistant to manipulation and censorship.

  • Flexible

Developers can use the Ethereum network to create a wide range of applications. This flexibility makes it a popular choice for developers.

  • Secure

The Ethereum network is secured by cryptography, making it difficult to hack.

  • Transparent

All transactions on the Ethereum network are publicly visible, making them easy to track and verify.

  • Open source

The Ethereum network is open source, allowing anyone to contribute to its development.

Be Aware of the Risks

Despite its many advantages, there are also some disadvantages to consider before investing in Ethereum. These include:

  • Volatility

The price of Ethereum can be very volatile and is often subject to large swings. However, this same volatility also provides opportunities for investors to make significant profits.

  • Security

Although the Ethereum network is very secure, there have been some high-profile hacks of Ethereum-based projects that have resulted in the loss of funds for investors. However, it’s worth mentioning that these hacks have usually been due to security problems with the projects themselves rather than the Ethereum network.

  • Scalability

The Ethereum network can currently only process a limited number of transactions per second. However, this scalability issue is being addressed with the upcoming Ethereum 2.0 upgrade.

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Earn More on the Ethereum You Buy, Hold or Transfer!

The value of cryptocurrencies is on the rise, and you can get in on the action with our platform. Earn competitive returns, compounded daily and tracked to the second with AQRU.

Enter an amount into our helpful interest calculator below to discover how much your Ethereum investment could earn.

This calculator is for informational purposes only.

Frequently Asked Questions

At AQRU, you can start earning more from your Ethereum.

Why should I invest in Ethereum?

If you’re looking for a smart investment in cryptocurrency, Ethereum is definitely worth considering. Here are a few reasons why:

  1. Ethereum is the most popular platform for distributed apps and smart contracts. As a result, there is a considerable demand for ETH tokens, and the market will only grow as more developers build on the Ethereum platform.
  2. It’s well-funded and has a strong team of developers behind it. This benefit gives it a lot of staying power and makes it less likely to experience the volatility that other cryptocurrencies are susceptible to.
  3. Ethereum has a very active community of users and developers, which means a lot of innovation is happening on the platform. This continued development keeps things exciting and ensures that Ethereum remains at the forefront of the cryptocurrency space.
  4. The Ethereum blockchain is one of the most user-friendly platforms, making it easy for even newcomers to get involved. This accessibility is key to driving adoption and ensuring long-term success.

With its strong fundamentals, active community, and user-friendly platform, Ethereum is poised for continued success in the years to come.

What are the Ethereum interest rates?

The team at AQRU believe that you deserve the best interest rates on your investments. That’s why we’re proud to offer some of the most competitive yields in the industry. In addition, our daily returns are automatically reinvested, so your money can earn more through compounding interest. So while Ethereum interest rates are always subject to change, we’re confident that you’ll consistently achieve a reliable return on your investment with AQRU.

How does AQRU generate such high rates of return?

At AQRU, we’re on a mission to help investors achieve superior returns. We believe anyone can gain financial success with the right tools and approach. That’s why we’ve built a platform to maximise customer returns. From our intuitive interface to our cutting-edge technology, we’ve created a second-to-none experience.

We achieve our consistently high rates of return by lending funds to retail and institutional borrowers. These loans are usually over collateralised, which means they are backed by assets worth more than the loan itself. This process allows us to generate returns while minimising risk for our investors. We use the interest we charge borrowers to pay our investors their daily ROI.

We’re always looking for new opportunities to make your investments pay off, so we also participate in decentralised exchanges that offer greater odds of earning profits! Moreover, all funds deposited into these trading platforms are insured against hacking, giving you peace of mind when investing with us.

What's the minimum amount I need to get started with Ethereum?

Ethereum is the most versatile and powerful cryptocurrency in use today. The popularity of this cryptocurrency knows no bounds, as it has a market capitalisation that currently exceeds $150 billion!

AQRU is committed to making high-yield generating investments accessible for everyone. Our low minimum investment of €100 means that anyone can start making money immediately.

Is AQRU secure?

We understand that security is a top priority for our customers. That’s why we’ve implemented industry-leading security measures to protect your funds. We use state-of-the-art encryption, two-factor authentication, and Multi-Signature technology to keep your money safe.

In addition, our insurance policy covers the value of your investment in the unlikely event of hacking-related losses.

Do you charge any fees?

At AQRU, we pride ourselves on being a different kind of investment company. Unlike other platforms, we don’t believe in hidden fees or charges. We’re transparent with our pricing, and there are no hidden costs associated with investing. There are no fees for depositing, transferring or holding your bitcoin, and even fiat withdrawals are free. We charge a flat fee of $10 for withdrawing assets as Bitcoin ($20 for other cryptocurrencies, including Ethereum). That’s it – no hidden costs, no catches. With AQRU, you can be certain that you’re getting the most transparent and affordable investment service available.

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