What is Ethereum?

According to Wikipedia, "Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality, which facilitates online contractual agreements. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes"

To understand this better, some phrases has to be defined clearly.

Open Source (or open source software) is a software with source code that can be shared with the public for anyone to look at, change or enhance. The software can be also be redistributed after the source code has been modified.

The word "Blockchain-based" describes that it is associated with the blockchain technology.

Smart contract are computerized contracts in which the terms of agreement between buyers and sellers are executed automatically by encrypted command codes. These codes and agreements are primarily used for cryptocurrencies and exist within the blockchain network.

So in a simple term, we can consider Ethereum to be a decentralized blockchain platform that can be modified by anybody and uses computerized contract to automatically carry out the terms and conditions or agreement between users.

Ethereum is developed by a worldwide team of passionate developers for the Ethereum Foundation, a Swiss non-profit organization. Ethereum is not a cryptocurrency, it is an application that operates by programing code requiring no  third-party interference or censorship but works without any possibility of downtime or fraud. It is a network that self-execute and validate programs in a decentralized manner without requiring a server, memory, CPU power, or any other computing function or hardwares, as it is all provided by thousands of ethereum nodes distributed across the world. For this reason, it is considered as a global  network of interconnected computer.

Let me make you understand this better. Every of our personal data that we have ever submitted online is held by a server. When information are passed through internet protocols, it is stored on other people or company computer. For this reason, our information can be hacked or accessed by private individuals, companies or unknown users (hackers).

Example:
When you signed up for an account with a website, your e-mail, password and other required information will be sent and stored on the website's computer. The stored data are secured and organized by agent or teams of specialists that has been assigned to do so. But this does not assure 100% security because while important information are being sent to the server or third parties, they can be stolen or changed by hacker. If eventually an agent of the website deletes your account details from their computer, you will be unable to login to your account because your login detail were not found on their server.

Ethereum has become a platform through which these information can be sent, received or retrieved, records can be kept, data can be processed or manipulated but without any specialist to control these activities. Instead, the third parties, servers and clouds of the internet are replaced by the thousands of ethereum node that are connected to each other. Thus, the ethereum is the latest technology that will be consider as the World Computer.

If this is ethereum, then why does ethereum have a price in the exchange market?

The ethereum which people consider as an alternative to bitcoin is not what should be compared. Ethereum has its own cryptocurrency called the ether. Primarily, the ether is considered as the crypto-fuel for the ethereum network.

Ether is a necessary element (a fuel) for operating the distributed application platform (Ethereum). It is a form of payment made by the clients of the platform to the machines executing the requested operations. Ether (ETH) is the cryptocurrency of ethereum which can be used for payment, transaction fee on ethereum, and has value that can be traded on the exchange market. 

The ether is something that should be compared with bitcoin but most times, the ether is being interchanged with ethereum in the crypto-exchange market. Transactions of ether between users are made from one ethereum wallet to another. The Ethereum Wallet  is a gateway that allows you to hold and secure ether and other crypto-assets built on Ethereum, as well as write, deploy and use smart contracts.

Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer involved in bitcoin  who first described ethereum in a white paper. The Idea became a reality on 30th july 2015 and which supported by online crowdsale funding during 2014.

Ethereum price and Analysis

Just like the bitcoin, the ethereum (ETH) price is unstable and unpredictable as it has the capability to inflate or deflate.  A section in wikipedia explains the past evaluation of the ether currency

"Tokens can be volatile per circumstances, such as ether's plunge from $21.50 to $8 when The DAO was hacked on 17 June 2016. As of June 2017, the value of ether had risen to more than $400, a 5,000% rise since the beginning of the year. Volatility continued, however, including a "flash crash" triggered by a large sell order on one exchange which briefly dropped the price to $0.10, after which it recovered to more than $300"

So you see, the evaluation of the ethereum is not precised. Right when this article was written, 1 Ether is worth $284.86 on the coinmarketcap. The chronicle of the ethereum based on price is nothing like the bitcoin and quite difficult to analyse. However, the ethereum is listed as the second cryptocurrency in the coinmarketcap which makes it the most valuable cryptocurrency right after bitcoin. Although, not in its price because some other cryptocurrency still has a higher value in price than the ethereum on the coinmarketcap. But the question is, will the price of this cryptocurrency rise.

It has been postulated that the supply of ethereum is not infinite. According to the Ethereum.org website, "the terms agreed by all parties on the 2014 presale, issuance of ether is capped at 18 million ether per year (this number equals 25% of the initial supply)". This means that not more than 18 million ether will be produced per year.

Ethereum will be mostly required by developers who intend to build apps that will use the ethereum blockchain and also users who want to access and interact with smart contracts on the ethereum blockchain. 

If the ethereum is working on the same principle of demand and supply, then ethereum will surely go up in price and will be a good source of investment. Secondly, It is a natural phenomenon for cryptocurrencies to increase in value. Based on the fact that the ethereum is not only offering digital money but also want to be the world latest computing technology with high level of security and privacy which most people love, there will be a very high level of demand for this cryptocurrency and thus will cause a drastic increase in its price.

Interesting isn't it. I think this calls for a cryptocurrency tournament... Bitcoin vs Ethereum

Well, this section could have been a whole lot of fun but the ethereum platform has made clear statement itself that "Ethereum would never be possible without bitcoin (both the technology and the currency) and we see ourselves not as a competing currency but as complementary within the digital ecosystem". So there's no point trying to argue, Bitcoin Wins! - Flawless victory.  

However, I still think that the above statement was made because Bitcoin was the cause of the ideology of creating the ethereum. The Ethereum also flourished rapidly in price within a short period in 2017,  although, not as much as the bitcoin did. Ethereum currently has a market cap of over $23 billion which makes Ether the second most valuable cryptocurrency in the world. The goal of this new technology is to become our world's new decentralized internet and since the internet has become one of the major component of our world today, there could be high level of demand and willingness to use this technology. I am not making any prediction but there could be a possibility of the ethereum having more worth than the bitcoin in the future.

So should I invest in Ethereum / Ether?

Emphatically, YES!

How do I get Ether?

It is regular for cryptocurrencies to be traded for physical currencies by e-currency exchange companies, but this is rear with the ethereum. The easiest way to get ether is to trade your bitcoin for an ether into your ethereum wallet. Multiple third parties that operates on cryptocurrencies are working to make the trade between bitcoin and ether facilitating. Below are few e-currency exchange companies that enable you to convert your BTC to ETH.

Note: Some countries are not permitted in some exchange company to convert BTC to ETH. If any of the exchange website does not allow you to make trade, please try another.

C-cex

Poloniex

Cex

Coinswitch

Shapeshift

Coinmill

Coinbase

Ngexchanger