The upgrade, commonly referred to as the Merge, was finalized at block 5537393 on September 15, 2022, bringing a new dimension to the Ethereum network. Ethereum 2.0 eliminates the need for mining, a computationally intensive process for verifying blockchain transactions. The platform will support shard chains so that staking can take place on Ethereum. Anyone can use ETH to develop secure digital technology, establish cryptocurrencies like Ether or create applications (DApps). Ethereum is valuable not only because of Ether but because of its numerous real-world applications. Please continue reading if you’re curious about what you can do with ETH.
1. Buy Almost Anything You Can Think Of
Ethereum is one of the many cryptocurrencies that have emerged in the past few years. Launched in 2015, it has become the second most valuable digital asset after Bitcoin. While BTC was created as an alternative to national currencies, ETH was developed to expand on its capabilities, facilitating immutable, programmatic contracts and apps coded into the blockchain. Ethereum relies on a decentralized computer network, which manages and monitors the currency. Ether, the native cryptocurrency, holds market value and is exchangeable for fiat currency.
If an online merchant has the option of Ethereum payments, copy their ETH address and paste it into the designated field of your wallet. Type in the number of coins into the payment box and click “Send”. Although PayPal has joined the decentralized currency movement, you can purchase a limited amount of Ether, and it’s necessary to convert it back to your account balance. You can buy Ether around the clock, but be mindful of the ETH price. Exchanges like Binance allow you to transfer assets using a QR code, but check and confirm the payment details.
2. Vote Electronically
Online voting eliminates the need to gather in person and cast votes using paper or by any means (e.g., email). With an online ballot, you can vote for candidates or on questions and open decisions on any device connected to the internet. Not surprisingly, voting systems are adopting the Ethereum blockchain to ensure a transparent and fair democratic process. Owing to its decentralized nature, a blockchain-based voting system is more secure, solving the issue of fraudulent activity. Ethereum supports a Turing-complete language, so smart contacts can be used to verify voters. Voters can monitor the entire process in real time, meaning that they gain trust in the process.
3. Breed And Collect CryptoKitties
As we’ve been able to see, Ethereum isn’t just about cryptocurrency and business function. It has a collection of games that can be played on the blockchain for recreation and leisure. CryptoKitties, for example, allows you to adopt, raise, and trade digital pets. Needless to say, you must acquire Ether to join the game and store it in a digital wallet called MetaMask. If you already have it, you’re good to go. CryptoKitties are collectible items – NFTs, in other words – and the prices can vary depending on the unique set of attributes each cat has (rarity, utility, and appearance).
Each cryptokitty is an ERC-721 token and has singular cattributes that come from the cryptokitty’s parents. Several traits can be passed down, like fur, eye shape, color, purrstige, etc. The game becomes interesting once you start figuring out what characteristics are rare and how to get them. Apart from traits, pay attention to the generation number and the cooldown when you buy digital pets. Bear in mind that there’s no fixed algorithm for rarity, meaning that the makers of the game don’t get to decide which cryptokitties are more expensive.
4. Search For Jobs
Finding a job is so hard now because many companies hire internally, meaning that managers fill open positions through employee recommendations and recruiters. In case you didn’t already know, hundreds of jobs are available on job market platforms that run on the Ethereum public blockchain. To create an account, you need a MetaMask wallet and pay gas fees to broadcast your profile, post messages, get feedback, and send invoices. Payments are made in Ether. Jobs listings include required skills, pricing, and a description of what needs to be done.
5. Use Ethereum to Create Your Digital Identity
When you leave home, you check to see if you haven’t forgotten your phone, wallet, keys, and ID. It’s no longer necessary to carry a passport as a means of identity. When you’re ready, simply choose to create a digital identity by saving the hashes of the data to the public blockchain. You’ll be assigned a unique address. A digital identity consists of your online activity, behavioral data, and other significant aspects. You can use your digital identity to sign contracts and interact with services that require identity confirmation.
In case you’ve lost your ID, or it was stolen, you can still provide proof of identity when necessary. In an emergency, the digital identity can be used quickly as it’s easily accessible. You can create as many accounts as you want on the Ethereum network without permission from anyone. At its most basic level, your identity consists of your first and last name, date of birth, nationality, and a passport number or driver’s license. The blockchain can eradicate current issues like data insecurity, inaccessibility, and fraudulent identities.
6. Share Your Thoughts on The Blockchain
If you like to share your innermost thoughts on social media, you’ll find value in EtherTweet, a decentralized version of Twitter. The service provides Twitter-like functionality, which means you can tweet messages up to 160 characters. The only difference between EtherTweet and Twitter is that the former is censorship-free because all the messages are stored on the Ethereum network. EtherTweet doesn’t control free speech, so anyone can reply and add value to the conversation. Nonetheless, you can’t avoid the consequences of tweeting forever since no post can be deleted.
To sum up, Ethereum can be deployed for a wide array of innovative applications, so it shouldn’t come as a surprise that its popularity is growing immensely. It’s the kind of technology that’s worth watching to better understand its use cases and applications.