Let me tell you why you should invest in Ethereum. These are details you do not know about Ethereum.

I will try to explain using layman's terminologies so you can understand better.

In 2015 a young programmer called Vitalik Buterin founded the Ethereum Foundation (let's call it EF) which birthed the Ethereum network. Though the idea was conceived as far back as 2013.

Now, just like every other tech company with stocks and shares, the Ethereum Foundation has what we call ETH (Ethereum coin).

You can see it as the shares of Ethereum. It helps determine the market capitalization of EF.

Ethereum is a tech platform just like Andriod and iOS.

Using this platform, you can build and deploy decentralized applications (called Dapps). Just the same way you can build android apps and iOS apps.

Now when your app is built on the Ethereum platform, it automatically uses the Ethereum network called ERC20.

In other words, your app can process payments using the network and also using ETH as the default currency to make and accept payments.

For example, you can buy a domain name using the Ethereum network and pay for it using Eth currency. You can pay for music download on any music Dapp that runs on Ethereum using ETH as a (crypto) currency.

There are other complex data about Ethereum like governance, proof-of-work, etc. But I am not dwelling on them.

In a nutshell, Ethereum is a platform where you can build and deploy an app. Shekina.

Now, this is why you should consider investing in it...

Since its inception till date, over 3,000 apps have been built and deployed via the Ethereum platform including Axi Infinity game (crypto play 2 earn game app) with a $3 billion valuation making it one of the top 5 gaming companies in the world. So many crypto projects and cryptocurrencies are built using the Ethereum network.

Ethereum has a total valuation of over $370 billion and is the second most valuable cryptocurrency after #bitcoin. More interestingly, its native coin, ETH has grown in value tremendously over the years.

If you had invested $1,000 in Ethereum in January 2020, you would have been able to purchase 5.30 Eth coins at the rate of $186 per eth. By November 2021, 23 months later, Eth reached a New All-Time High of $4,400 per eth.

In simple terms, your N480,000 (approximate of $1,000) invested in 2020 would have netted you $23,300 by November 2021...approximately N13 million.

This is just the beginning. Why?

Because of two things.

Firstly, there is mass adoption of the Ethereum network by institutions including Amazon, Overstock, Citigroup, BP, Google, Microsoft, Siemens, Comcast, Intel, Samsung, HTC, JP Morgan, Metlife, etc. Most of these companies are utilizing the Ethereum network to power some areas of their business. Amazon uses it for supply chain.

Secondly, Ethereum is working on releasing an update that will make transaction fees on the Ethereum network cheaper and faster.

NB: This is not a piece of financial advice. Please do your own research.

Pic below is that of the founder of Ethereum.

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