First of all, the first thing which may come to your mind would be probably, the definition of Ethereum, and Ethereum-based Products then worry no more since this Blog will offer a clear explanation of all that.
To answer your question on what is Ethereum, then the answer is that, it is a decentralized Blockchain platform that sets up a peer-to-peer network that securely performs and also verifies application code, which is known as smart contracts.
Next, you may have a question on how Ethereum and Ethereum Based Projects are interlinked, to answer this, in order to support the Ethereum Network, then this calls for developers who need the cryptocurrency, Ether, to create and also run applications. Also, these Ethereum-based projects help in scalability and performance.
Ethereum can be used for several purposes, including innovative applications in certain fields like; finance, web browsing, gaming, especially gamers, marketing, management of identities, and not leaving behind the most important supply chain management.
Now that we have looked at the definition and the use of Ethereum and Ethereum Based Projects, let’s change gears and answer this question that most people have in mind,” How to Use Ethereum to make money”, Yes it is very possible to use Ethereum to make money by first earning interest by putting the tokens which you have into an account, You should also take note that the interest rates may differ with time since at times they may be relatively low, that is if they are not negative.
On the other angle, let’s dig in to explain the Ethereum projects which this blog is going to look at in this sub-section. They Include;
- Chainlink which happens to be not only the first but also the most successful oracle for Ethereum
- MetaMask which is a browser extension that not only makes it possible running of Ethereum dApss but also enables smart contracts interaction
- Axie Infinity on the other side you should notice that it is an Ethereum Blockchain, and it falls under the category of a play-to-earn NFT game which is known as Axie Infinity.
- OpenSea-this Ethereum Project is a peer-to-peer marketplace and it is majorly used for crypto collectibles
- Sushiswaps-Finally, the last Ethereum project, allows the users to be able to swap ERC20 tokens of any kind for any other ERC20 and this is possible through liquidity pools that are automated.
To Encapsulate Ethereum and its projects, Ethereum in the last two weeks has experienced a monumental hike which is an average of 9% and this was caused by several big institutional investor the s who showed interest in establishing new crypto market products.
Not leaving behind the news of the Ethereum Merge which is set to be the most significant moment in the history of crypto to ever happen.
In other news regarding Ethereum, the crypto World has not only seen but also experienced tumbles below $1 trillion and this has been caused by Ethereum Merge Looms.
Ethereum Prices have also been experiencing shakeups predicted amidst Merge confusion. There have also been rumors that Ethereum is ditching its “miners” and this is because Mining calls for enormous computing power hence this directly translates to a very big consumption of energy hence causing huge greenhouse gas emissions.
