Download XDEFI Wallet: the best Ethereum (ETH) wallet.
XDEFI Wallet makes Web3 safe and easy: it allows you to store, send, and swap Cryptocurrencies and manage your NFTs from a single, safe Ethereum (ETH) wallet.
What is Ethereum?
The Ethereum Blockchain is the first decentralized platform to allow the secure execution of smart contracts.
Smart contracts are conditional code hosted by the blockchain, which allow users and funds to interact without the need to trust a third party. Smart contracts execute automatically once conditions are met, and no one can stop it or modify it. To interact with a smart contract you would only need an Ethereum wallet such as XDEFI Wallet and some ETH to pay for the transaction
Tokens that operate on the Ethereum network are referred to by the name of their token standard. The most common ones are ERC20 tokens, such as UNI, AAVE, USDT, USDC, etc.
NFTs often use token standards that contain data about the token’s attributes. The wide variety of NFTs available on Ethereum include ERC721 and ERC1155. These types of tokens can be viewed and traded by connecting an Ethereum wallet to a marketplace like Opensea, Rarible, Nifty Gateway, Looks Rare, etc.
What makes Ethereum unique?
The first blockchain to implement smart contracts
It is the biggest smart contract blockchain not only by market cap but also by volume, making it the most attractive blockchain for decentralized finance application (dApp) builders. (DeFi is only made possible by smart contracts because of the nature of self-executing code in carrying out financial requests.)
It is the second-largest blockchain, making it more secure and harder to attack than most other blockchains.
What are the core features of Ethereum?
- Secure Smart contracts
- Decentralized applications (dApps): a user interface built to utilize smart contracts for services like trading on an automated market maker (AMM), lending and borrowing, or locking tokens into a staking contract. A dApp will have a frontend you can connect with your Ethereum wallet to interact with smart contracts such as Sushiswap, Uniswap, AAVE, THORChain.
- Ethereum Virtual Machine (EVM), is a program that can understand smart contracts and process them.
- To increase the number of transactions that can be processed on Ethereum, and to keep gas costs lower, several solutions have been created to build on top of Ethereum mainnet. Layer 2 networks and roll-ups enable transactions to go through these alternative routes like Arbitrum, Polygon, Optimism Rollups, or ZK Rollups. Then the transactions will be written to the Ethereum mainnet ledger at a later date, all secured by smart contracts.
What is the native token of Ethereum and where can I buy it?
The native token is Ethereum (ETH). It is needed to pay for gas fees for all transactions on Ethereum network.
If anyone wants to pass a transaction on the Ethereum blockchain they have to pay a fee, it will be sent out to pay miners for processing the transaction. The price of gas fees are divided into a fraction of an ETH into units known as gwei. One gwei is worth one billionth of one ethereum.
Ethereum is available on many Ethereum-based Decentralized Exchanges where you can simply connect your ethereum wallet and swap with a click.
Since Ethereum is the second-largest crypto (at the time of writing), It is listed on every centralized exchange. E.g: Binance, Coinbase, Robinhood, Kucoin, OKEX, etc.
Where can I get a Ethereum wallet?
XDEFI Wallet allows you to safely store, send, and swap Ethereum (ETH) tokens directly within the wallet.
XDEFI Wallet is multichain and supports more than 9000 tokens including ETH and all Ethereum tokens.
Download XDEFI Wallet browser extension here.