12 Best Cryptocurrencies to Invest in According to Reddit

2) Ethereum (ETH)

Market capitalization as of August 29: $302.7 billion

Ethereum, a well-known decentralized computing platform, uses ETH (also known as Ether) for the payment of transaction fees. The developers can use Ethereum to run decentralized applications (dApps) and provide new crypto assets, known as Ethereum tokens. Ethereum is a decentralized, open-source blockchain, that aims to become a global platform for decentralized applications. It focuses on enabling users worldwide to write and run software resistant to censorship, downtime, and fraud.

Ethereum operates through a blockchain network, which works as a decentralized, immutable ledger for the recording of transaction histories. It utilizes Ether, the platform’s native digital currency, to allow computations and transaction validation in the ecosystem. Coinbase assures that its users can stake their ETH easily and safely. Through Coinbase’s built-in staking feature, any user can stake their ETH.

Ethereum has been categorized as a dominant player in the field of smart contract platforms, having the largest base of developers and users. This widespread adoption helps in creating a strong environment that can nurture growth and innovation. The Ethereum network has been upgraded to EIP-1559. This means every time someone makes a transaction, a small portion of the transaction fee gets destroyed. Over time, this will lead to fewer Ethereum coins, which can potentially increase the value of the remaining ones.