Ethereum has been well-known in the cryptocurrency community for a long time. Ethereum stands out in the cryptocurrency space because it has several key features and breakthrough innovations in the cryptocurrency system. Ethereum’s features and innovations it popular in the crypto space and many newer cryptocurrencies adopted its features and innovations.
What Is Ethereum?
Before we talk further, let me introduce you the Ethereum itself, Ethereum is a blockchain platform that introduces a new system in the cryptocurrency space.
Ethereum’s innovation makes the cryptocurrency become something that is beyond the digital currency transaction. Ether (ETH) is a native cryptocurrency from Ethereum that can roled as a digital currency like Bitcoin, but it can serve more inside of the Ethereum ecosystem platform.
What Can Make Ethereum Stand Out
Ethereum is well known as a standout platform that brings cryptocurrency beyond the digital currency used for transactions. With some innovations and features, Ethereum become a stand-out cryptocurrency platform among many platforms in the cryptocurrency space. Those innovations and features are explained as follows:
1. Smart Contract and Decentralized Applications (DApps)
Ethereum is the first platform who pioneer the concept of smart contracts. A smart contract is a self-executing contract with code that automatically executes predefined actions when the condition and requirement are met.
This feature makes it possible for the development of decentralized applications (DApps) that can process a wide range of orders, from financial services and identification to supply chain management and gaming. The DApps innovation already attracts many developers and innovators from various industries.
2. Versatility and Programmability
Ethereum has a versatile nature because the Ethereum blockchain is Turing Complete. Because of that nature, Ethereum can perform any computation that a classical computer can do, within certain resource limitations. This versatility allows developers to create highly customizable and sophisticated smart contracts and applications. This is in contrast to some other blockchains at that time where they might have limited scripting languages.
3. Ethereum Improvement Proposal (EIPs)
Because Ethereum has an active and transparent governance process, it allows participants to propose and discuss improvements to the network. The feature for participants submitting their proposal and discussion is named Ethereum Improvement Proposal (EIP).
After participants submit their proposals, their proposals will be checked to be approved, and changes and improvements for the network. This community-driven approach fosters innovation and adaptability for the Ethereum network itself.
4. Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs)
Ethereum has been a driving force behind Decentralized Finance (DeFi), which focus on creating financial service without intermediaries. Currently, DeFi is popular since the concept can allow anyone to interact with financial services without intermediaries such as banks, brokers, or other centralized institutions.
Ethereum is also the one that pioneered and is the primary platform for Non-Fungible Tokens (NFTs). The Non-Fungible Token concept is successful in transforming the way of establishing digital ownership and provenance of various digital tokens such as digital arts, collectibles, and many more.
Read also : What Is The Best Solana Launchpad
5. Ethereum 2.0 (Ethereum LaunchPad)
Ethereum undergoes the transitioning process from a proof-of-work (PoW) consensus mechanic to a proof-of-stake (PoS) consensus mechanic. The PoS consensus mechanic is a part of the Ethereum upgrade system that is expected to improve the scalability, energy, efficiency, and security of the Ethereum Network. This upgrade also includes a project Ethereum Launchpad.
Those are some Ethereum features and innovations that make it stand out from the other cryptocurrency platforms. Because of those features and innovations Ethereum became popular, favorable, and loved by its community. They also tend not stop to creating innovation and improvement to provide better service for the cryptocurrency community.
Ethereum Launchpad Platform
We have talked a lot about Ethereum and know that Ethereum is an innovative cryptocurrency platform. We also get information that Ethereum has its launchpad platform during the update system from the Ethereum to the Ethereum 2.0.
There are some information that you might need to know about the Ethereum Launchpad Platform in Ethereum 2,0 update:
1. What Kind of Launchpad Platform
Etherium Launchpad is a launchpad platform that is powered and supported by the Etherium Platform. This platform allows many developers to fundraise or sell their projects inside of the platform. The Ethereum launchpad platform controls the token sales with smart contracts so every transaction within the token sale event is done automatically.
2. How The Ethereum Launchpad Platform Work
In Etherium 2.0, the Etherium Launchpad platform uses a Proof-of-Stake (PoS) consensus mechanism. With the PoS, the validator can stake some Ether (ETH) as native Ethereum cryptocurrency in the Launchpad Platform. The Ether that validator stakes can be used to fund the project that is listed in the Etherium Launchpad.
As for reward for the validator who staking their Ether currency, they can gain a staking yield that can be claimed after a certain period. Not every user can get a reward from staking, to get a staking reward user needs to be a validator. To be a validator in the Etherium Launchpad Platform a user needs to participate staking inside the platform. Users need to participate in staking with at least 32 ETH.
3. Advantages and Disadvantages of Ethereum
Advantages
- The Proof-of-stake conscious mechanic allows a wide range of fundraising for projects inside the launchpad. This can benefit the project developer and the staking participant.
- The staking event is an energy-efficient solution for a token sale event where participants don’t have to spend a lot of energy for mining, they only need to stake the Etherium and then receive the reward.
- The launchpad offers educational space for newcomers, so they can learn information related to the staking event such as deposit contracts, and community rules. Staking rule, and general nature of the system. With this people can learn about many things related to the Ethereum launchpad before joining the staking program.
- The stacking program is good for people who want to hold ETH for a long time. By stacking their ETH they can help fund projects while keeping their ETH safe and gaining interest.
Disadvantages
- The user might need to wait to enter the launchpad. It is caused by the Ethereum launchpad has thousands of validators queue waiting to be signed in.
- The earning from the staking program depends on the amount of Ether stacked in. The more a validator stacks in, the more yield can be claimed.
- Staking is only fruitful for a long term period.
The other good and trusted launchpad is the Kommunitas launchpad. This launchpad is considered a best launchpad that can support many projects such as gaming, NFT, Metaverse, and Defi from any blockchain ecosystem.