Ethereum
The Bases for the Altcoin of ETH is rooted in the system know as “Ethereum”. The purpose of this system is to build upon bitcoin’s biggest flaw. The lack of a 3rd party to be your escrow service, which Ethereum is able to solve.
Ethereum uses a code base that is freely traded and publicly seen to help users be their own trusted escrow by making transactions be approved when conditions are met. For example, if we have a situation where we would be betting on a game of rock paper scissors using our Cryptocurrency. Every time a play ‘Won’ we would need to send the coins to that player, while this is possible, it is very time-consuming. Ethereum, through the altcoin of ‘ETH’, allows us to say submit a code base with our bet, instructing your wallet to wait till the games are played out and take thenX wins - X loss award the winner, (the player with the net gain of coins) without the need of another 3rd party to verify this. As each player has to have the same matching code base to bet with an ETH coin, it is a form of automated trust.
The speed with the addition of trust is why ETH is valuable in our current cryptocurrency ecosystem.
