A couple of days ago I wrote that to kick off 2018 I'd be posting about my crypto portfolio: https://steemit.com/cryptocurrency/@davidpakman/welcome-to-2018-my-cryptocurrency-portfolio
I'll be posting about each currency I hold in the order I took positions in them. Yesterday's post, the first, was about Bitcoin (BTC): https://steemit.com/cryptocurrency/@davidpakman/my-crypto-portfolio-day-1-bitcoin
Today, I'll talk about the second crypto I bought, Ethereum (ETH). As you can probably already tell, my initial forays into crypto were with the more well known coins.
Ethereum was first proposed by Vitalik Buterin, who has become incredibly wealthy, no surprise. Ethereum's market cap is currently third, as of today.
Initially, my interest in ETH when I owned ONLY BTC at the time was diversification, but in learning about ETH, I've come to realize the underlying technology is tremendous, and that's part of the reason why it is serving as the platform for numerous ICOs. In recent days, ETH has also had a record run-up
Arguably the biggest difference, as I understand it, between BTC and ETH is that rather than mining Bitcoin, in the ETH blockchain, miners work to earn Ether, which us a token that sort of serves as "gasoline" for the network. Although the technical aspects of this start to get beyond my expertise, Ethereum has the significant appeal of being able to be used in building Decentralized Autonomous Organization (DAO), which in and of themselves are decentralized with no specific person in charge.
Although I am experience even LOWER transactions fees and times with Litecoin (LTC) than with ETH, ETH is functioning in my personal experience much more quickly and cheaply than yesterday's coin, BTC.
Currently, ETH represents about 16% of my total crypto holdings, surpassing my BTC holdings due to the recent run-up over the last 2 days. What are your thoughts about ETH? Leave them in a reply!