Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. Ether is a cryptocurrency whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed. Ethereum provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
Before answering this question let's get to know a little bit more about Ethereum or Ether and how safe it is Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications. Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability. Ethereum blockchain focuses on running the programming code of any decentralized application.
Ethereum enables developers to build and deploy decentralized applications. A decentralized application or Dapp serve some particular purpose to its users. Bitcoin, for example, is a Dapp that provides its users with a peer to peer electronic cash system that enables online Bitcoin payments. Because decentralized applications are made up of code that runs on a blockchain network, they are not controlled by any individual or central entity. Any services that are centralized can be decentralized using Ethereum. With Ethereum you can create blockchain based softwares and applications.Microsoft and Facebook are using Ethereum network to create blockchain based application and softwares. Most of the technology industry are adapting to ethereum because of the powerful features it provides. Soon after Ethereum was launched it became the web 3.0 (the third generation of the internet). Assuming you have read what Ethereum is and whats makes it so special and want to buy some Ethereum to join the bandwagon and earn profit. At Coinzs, we’re big fans of Ethereum. It has enormous potential and is backed by some of the largest institutions in the world such as Accenture, JP Morgan, etc. We see explosive growth in its future.
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Cryptocurrency uses BlockChain. Following are the features of blackchain that makes it the most innovative solution that will reshape the digital economy.
The blockchain network lives in a state of consensus, one that automatically checks in with itself every ten minutes. A kind of self-auditing ecosystem of a digital value, the network reconciles every transaction that happens in ten-minute intervals. Each group of these transactions is referred to as a “block”. Two important properties result from this: Transparency data is embedded within the network as a whole, by definition it is public. It cannot be corrupted altering any unit of information on the blockchain would mean using a huge amount of computing power to override the entire network.
By storing data across its network, the blockchain eliminates the risks that come with data being held centrally. Its network lacks centralized points of vulnerability that computer hackers can exploit. Today’s internet has security problems that are familiar to everyone. We all rely on the “username/password” system to protect our identity and assets online. Blockchain security methods use encryption technology. The basis for this are the so-called public and private “keys”. A “public key” (a long, randomly-generated string of numbers) is a users’ address on the blockchain. Bitcoins sent across the network gets recorded as belonging to that address. The “private key” is like a password that gives its owner access to their cryptocurrency or other digital assets. Store your data on the blockchain and it is incorruptible. This is true, although protecting your digital assets will also require safeguarding of your private key by printing it out, creating what’s referred to as a paper wallet.
People in India are pulling their hair over whether cryptocurrency legal or illegal in India? It has kept many investors on a side where people think that investing in cryptocurrencies might put them in trouble or they might even lose their money. This is completely a hoax as investors have multiplying their money for quite some time now. Amitabh Bachchan invested $250,000 in Cryptocurrency which surge to $17.5 million. The value of the Ethereum currency grew over 13,000 percent in 2017. Speaking at a fintech event by KPMG, RBI executive director Sudarshan Sen said “Right now, we have a group of people who are looking at fiat cryptocurrencies. Something that is an alternative to the Indian rupee, so to speak. We are looking at that closer”. RBI has also issued a warining stating ‘’RBI won’t be responsible for any problem’’ But investors or people sitting on the fence need to understand, it’s something similar to stock exchange you buy a share based on the future prospects of the company same is the case with cryptocurrency. Cryptocurrncy which is the backbone of BlockChain technology and companies like Microsoft and Facebook are using BlockChain technology. Various Government bodies Including India is looking at ways to utilize blockchain. Indian Govt’s think tank Niti Aayog is also working on a platform named 'India Chain', a shared India-specific blockchain infrastructure. The platform is envisaged to use the power of Trinity viz mobile, Aadhaar and Jan Dhan Yojana to enable blockchain developers to build social applications. Niti Aayog is also in the process of identifying partner organisations from the private sector and States/UTs as well implement proof-of-concepts utilising blockchain technology across various sectors. Given its nature, Virtual Currencies (VC’s) can fall under the definition of a 'computer programme', which has been defined under the Indian Copyright Act, 1957, as 'a set of instructions expressed in words, codes, schemes or in any other form, including a machine readable medium, capable of causing a computer to perform a particular task or achieve a particular result.' Further, VCs can arguably be classified as 'Goods' of intangible nature (akin to a computer programme or software) under Sale of Goods Act, 1930. Being classified as 'Goods' may also give rise to certain direct and indirect tax related implications, such as applicability of sales tax on transfer of VCs, applicability of services tax (if mining of VCs is viewed as an act of providing service) and applicability of income tax on income arising on sale of VCs.
Japan Japan officially recognizes bitcoin and digital currencies as a "means of payment that is not a legal currency" (see Article 2-5 of Japans's Payment Services Act (PSA) 25 May 2016). The United States The U.S. Treasury classified cryptocurrency as a convertible decentralized virtual currency in 2013. The Commodity Futures Trading Commission, CFTC, classified cryptocurrency as a commodity in September 2015. Canada Like its southern neighbor the United States, Canada maintains a generally bitcoin-friendly stance while also ensuring the cryptocurrency is not used for money laundering. Australia Australia allows entities to trade, mine, or buy bitcoin. The Australian Taxation Office (ATO) considers bitcoin transactions barter arrangement subject to appropriate taxes depending upon the use and user The European Union The European Union has passed no specific legislation relative to the status of bitcoin as a currency, but has stated that VAT/GST is not applicable to the conversion between traditional currency and cryptocurrency. VAT/GST and other taxes (such as income tax) still apply to transactions made using bitcoins for goods and services.
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Buy Etherium Cryptocurrency in India – Coinzs is the leading Etherium Wallet In India. Resources https://www.cnbc.com/2018/01/10/ethereum-price-hits-record-high-above-1400-up-17000-percent-in-a-year.html https://yourstory.com/2018/02/niti-aayog-ai-machine-learning-blockchain/ https://www.indiatoday.in/technology/news/story/amitabh-bachchan-rides-the-bitcoin-high-sees-usd-250000-investment-surge-to-usd-17-5-million-1114138-2017-12-20 https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
Ethereum or Ether is the best investment you can make right now. The value of the Ethereum currency grew over 13,000 percent in 2017. The demand for Ethereum is too high and it is the best cryptocurrency to trade with. Ethereum is the 2nd most popular. But we believe, as do many more in the industry, that Ethereum rates can exceed that of Bitcoin. ‘Because what Bitcoin does for payments, Ethereum does for anything involving programming and computing. Ethereum’s goal is to make a decentralised internet. And it has a very good shot at becoming “the new internet,” literally.’ A diagrammatic representation of the 3 network types is below. Each dot is an ‘node’ or a PC and can also be a mobile phone: Ethereum is the queen of all cryptocurrencies. It is said that Ethereum will overtake bitcoin in the coming years. With Ethereum you can create blockchain based softwares and applications. Microsoft and Facebook are using Ethereum network to create blockchain based application and softwares. Most of the technology industry are adapting to ethereum because of the powerful features it provides. Soon after Ethereum was launched it became the web 3.0 (the third generation of the internet). You could buy Ethereum tokens from our website we are also accepting any new registrations without any cap. We require your KYC before you are allowed to buy Etherium from our platform our store your Etherium or Ether there. In addition to this we also provide user with their “Private Key”, this helps the user to use the Ether anywhere even at a different exchange as well. This way we are trying to comply with Government policies and being transparent with our users. You can buy Ethereum directly from https://coinzs.com using Internet Banking. Coinzs is India's most advanced digital assets exchange to buy Ethereum in India. It's the first complete exchange supporting multiple cryptocurrencies/ tokens on a single platform. Built entirely from scratch, Coinzs is aimed at bringing the magic of blockchain technology to India. Bitcoin - the world's first cryptocurrency - was introduced in 2009 and since then over 1000 tradable tokens have come into existence. However, for a long time India missed out on the tremendous opportunity that the rest of the world had been enjoying. And Coinzs has been built to to bridge that gap. Coinzs has been built over cutting edge technology. Proprietary trading engine, wallet and platform architectures, grade A security, user-centric UI/UX, and tons of user-demanded features are some of the things which define Coinzs. It's being carved to perfection, one day at a time, all with your constant love and support. The best place to purchase crypto in India is Coinzs . It’s the best platform out there! it’s simple to use and one of the best exchanges in terms of quality and Interface. Resources: https://www.cnbc.com/2018/01/10/ethereum-price-hits-record-high-above-1400-up-17000-percent-in-a-year.html A diagrammatic representation of the 3 network types is below. Each dot is an ‘node’ or a PC and can also be a mobile phone: