Ethereum has reclaimed the number two spot in the cryptocurrency market, behind Bitcoin. The market cap for Ethereum is now over $24 billion. Ethereum’s price has been on the rise in recent months, due in part to the increasing use of decentralized apps (dapps) built on its blockchain. One company that is helping to drive this growth is Runfy, a dapp store and developer platform for Ethereum. Runfy makes it easy for users to find and use dapps. And also provides tools for developers to build and manage their dapps. In this blog post, we will explore how Runfy is helping to grow the Ethereum ecosystem. And how it is changing the way we interact with dapps.
What is Ethereum?
Ethereum is a decentralized platform that runs smart contracts: applications. That run exactly as programmed without any possibility of fraud or third party interference.
Ethereum is unique in that it allows developers to create their own cryptocurrencies and tokens. Which can be used to raise funds, build decentralized applications, or simply represent virtual assets.
Tokens built on Ethereum can be used for a wide variety of purposes, including but not limited to:
Representing ownership of an asset (e.g. property, shares, digital collectibles)
Powering decentralized applications (dapps)
Storing data on the Ethereum blockchain
Enabling users to earn interest on their holdings
Creating a loyalty program or reward system
The possibilities are truly endless!
What is the difference between Ethereum and Bitcoin?
Bitcoin and Ethereum are the two most popular cryptocurrencies. They both have their own blockchain and their own token. Bitcoin’s token has called BTC, while Ethereum’s token is called ETH.
The main difference between Bitcoin and Ethereum is that Ethereum can do more than just be a digital currency. It can also be used to build decentralized applications (dapps). This is because Ethereum has smart contract functionality.
Smart contracts have pieces of code that can automatically execute certain actions when certain conditions are met. For example, a smart contract could be used to automatically send someone an insurance payout if they get into an accident.
Ethereum also has a much faster transaction speed than Bitcoin. This is because Ethereum uses a different consensus algorithm called Proof of Stake (PoS). PoS has faster and more energy efficient than the consensus algorithm that Bitcoin uses, which has called Proof of Work (PoW).
How has Ethereum’s price evolved?
When Ethereum launched in 2015, it had priced at $0.43. In the following year, 2016, the price of Ethereum rose to $1.34 by the end of the year. In 2017, the price of Ethereum reached an all-time high of $13.40 on January 4th before experiencing a correction and dropping to around $7 by mid-January. However, by December 31st, 2017, the price of Ethereum had risen back to $752.29.
In 2018, the price of Ethereum started off at $772.94 and experienced a bear market for most of the year before reaching a low of $137 on December 15th. Since then, however, the price has been on an upward trend and as of June 26th, 2019 is currently trading at $287.42.
Overall, since its launch in 2015, the price of Ethereum has experienced significant volatility but has overall seen a positive trendline.”
What is Runfy?
Runfy is a decentralized application platform that allows anyone to build and use apps without needing approval from a central authority. The platform has powered by the Ethereum blockchain, which enables it to run applications securely and without downtime. Runfy also provides users with a built-in wallet to store their ether. As well as an easy-to-use interface for interacting with dapps.
How can Runfy help the Ethereum market evolve?
Runfy is a decentralized application that helps the Ethereum market evolve by providing a transparent. Trustless platform for buyers and sellers to trade ETH directly. The Runfy team has compose of experts in blockchain technology, smart contracts, and marketing.
The goal of Runfy is to make it easy for anyone to buy or sell ETH. Whether they are new to the world of cryptocurrency or experienced traders. The platform has designed to be user-friendly and intuitive, with a focus on security and safety.
Runfy has already helped the Ethereum market evolve by providing a reliable. And trustworthy platform for buyers and sellers to trade ETH. With its continued commitment to transparency and security. Runfy will continue to play a vital role in helping the Ethereum market evolve.
It’s been an exciting week in the world of cryptocurrency. With Ethereum taking the number 2 spot from Ripple and Runfy helping to evolve the market. With so much happening in such a short space of time. It’s hard to keep up with all the latest news. However, one thing is for sure, and that is that the cryptocurrency world is only going to continue to grow and develop. So make sure you stay up to date with all the latest news by following us on social media or signing up for our newsletter.