Millions choose OVEX to buy Ethereum.
What is Ethereum (ETH)?
Ethereum is a decentralized, open source, and distributed computing platform that enables the creation of smart contracts and decentralized applications, also known as dapps. It is also the world's second largest cryptocurrency by market cap after Bitcoin.
No government or company has control over Ethereum. Decentralization makes it nearly impossible for anyone to stop one from receiving payments or using services on Ethereum.
Ethereum is the leading public blockchain Layer 1 that powers most of the crypto-sphere's decentralised applications (dapps). It is the base upon which smart contracts can be coded. Because Ethereum is a decentralised network it enables peer-to-peer networks to securely execute and verify application code.
Eliminating rent-seeking intermediaries is one of the coveted solutions that Layer 1 protocols like Ethereum make possible.
The network's co-founder put it quite simply:
Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.
-Vitalik Buterin, co-founder of Ethereum
This is because Ethereum applications leverage the power of "smart contracts." These digital agreements function similarly to traditional paper contracts, outlining the terms of an arrangement between parties. However, unlike their physical counterparts, smart contracts automatically execute when pre-defined conditions are met, eliminating the need for intermediaries or central authorities to oversee the process.
Ether (ETH) is the transactional token that facilitates operations on the Ethereum network. All of the programs and services linked with the Ethereum network require computing power, equipment, internet connections, and maintenance. Ether (ETH) is the payment users give to network participants for executing their requested operations on the network.
In order to verify transaction on the Ethereum network the protocol relies on a consensus mechanism known as Proof-of-Stake (PoS).
Unlike Proof-of-Work (PoW) - used by protocols like Bitcoin - where miners compete with actual computational power, PoS relies on validators who "stake" their ETH tokens. This staking acts as a security deposit, incentivizing validators to behave honestly and maintain network integrity (or have their stake 'slashed').
How to Buy Ethereum (ETH):
STEP 1: Create your free OVEX account
Create and verify your OVEX account in minutes.
STEP 2: Connect a funding method
Fund your account with your local currency.
STEP 3: Complete your Ethereum purchase
Buy Ethereum with as little as $10.
STEP 4: Store or use your Ethereum on OVEX
Now that you have bought Ethereum you can store it in your OVEX wallet indefinitely. Alternatively you can trade it for a plethora of other currencies available on the OVEX exchange.