How Ethereum is Used in CTFs (Coin Traded Funds) and What the Benefits Are

Thanks to blockchain technology and the rise of cryptocurrencies, investment scenarios are changing. The world economy as we know it has turned into a hybrid where the money flows into cryptocurrencies, and is used either to support projects built on decentralized platforms or for the mere purpose of making a profit. The world used to associated blockchain technology with Bitcoin, but things have changed when Ethereum entered the scene.

Blockchain technology and Ethereum

Better described as an open-source platform that uses blockchain technology, Ethereum enables developers to make their own decentralized applications. The main difference between Bitcoin and Ethereum is the purpose. The latter focuses on managing the programming code for any type of decentralized application. The official Ether coin is mined, like Bitcoin, but this will be changed to a less power consuming method. This type of token nurtures the network, Ether being used to pay for different transactional fees and services available on the Ethereum network.

he capabilities of the Ethereum blockchain are immeasurable. One of the most notable is that it can be leveraged to build smart contracts. But it’s a type of contract that self-executes – it is a standalone contract that handles management, performance, enforcements, and payment features all by itself.

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