We have a huge list of things to do in this series because we know that our life can be as amazing as a great deal.
We also know that we don’t know everything, so by the end of this series we’ll have a list of things we know to do. In this series we’re gonna talk about the coolest, most important, and most exciting things in our lives, so if you’re in one of those categories, keep reading.
Wex is a new blockchain which is supposed to be like BitPay but with a much smaller Bitcoin transaction cap. Wex is a very new cryptocurrency with a cap of 2,000 transactions per second and a very high transaction rate. It’s meant to replace Bitcoin (BTC), but if one uses BTC to buy Wex, one will still need to buy a lot of BTC to make any real transaction. Wex will be the currency of choice in the upcoming BitPay-esque exchange.
If you’re in the cryptocurrency area, this is a great time to get some advice on how to buy and use Bitcoin without spending a lot of money. If you’re in the Ethereum area, you will need to get involved because Ethereum is currently the only blockchain that’s had a significant amount of transactions. You can see a map of the Ethereum network here.
We should be in a full blown crypto-currency exchange soon. There is a lot of hype about Ethereum, but very little about how it actually works. The only major player in the Ethereum space is BitPay, which is an online payment processor that lets you purchase Bitcoin, Litecoin, and Ethereum from one company. BitPay recently acquired the business of Coinbase, one of the two major exchanges. Coinbase also offers Bitcoin, Ethereum, and Litecoin. Coinbase says it has $1.
billion users. Bitcoin has been around for approximately 11 years, Litecoin for about the same time. Ethereum is getting better on a daily basis. As for what we can make of Ethereum, we’ll have to see. We were told that the developers are working on a “decentralized” version of Ethereum which is something along the lines of Bitcoin (without the mining). The only difference is that this version will be built on the blockchain, and the network will be completely decentralized.
So if Bitcoin and Ethereum can’t possibly work, what can Ethereum do for us? We are told that Ethereum can also do something very important. Ethereum is building a decentralized, permissionless network where code can be written and implemented on a distributed network of computers. The code is then executed on any computer or devices that have the code. Think of it as something like a Google Doc that can be easily edited by users anywhere in the world. It’s a very different way of doing things.
Ethereum has been around for a while, and is gaining momentum as a means to develop decentralized applications. But there is a lot this ICO that is still very early on. It is expected to be the most expensive ICO ever.
The Ethereum ICO will be the biggest ever and is expected to be worth some $2.5 billion. This doesn’t necessarily mean that Ethereum is the future of computer-based money. Ethereum is, in fact, still a work in progress and is far from reaching its full potential. It is expected to be one of the most profitable ICOs ever.
But Ethereum can definitely be a good way to make money. It is, after all, a decentralized platform that is completely free from central banks, governments, or other middlemen. The main problem with Ethereum is that it is currently not decentralized enough. Ethereum has a private blockchain, but no consensus mechanism, which means it is not a truly decentralized system. To make it truly decentralized, Ethereum needs to add a smart contract layer to the system.
