Vitalik had the idea of Ethereum in 2013, but he did not have sufficient resources to make it a reality. He turned to crowdfunding, which became a success. In 2015, he managed to create and launch Ethereum that received public acceptance.
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It is more than just a cryptocurrency
Perceiving Ethereum as simply another cryptocurrency is ignorance. Its role surpasses that of the average Altcoin. It is an entire platform that supports decentralized applications, and it has its tokens. What’s more interesting is that it allows developers and users to issue their own digital items within the network. For clarity, Ethereum is a crypto…
Ether is the crypto unit, not Ethereum
Don’t get mixed up between Ethereum and Ether. Ether is the native token that people trade in, Ethereum the underlying blockchain network. Ether is traded as a virtual coin like other Altcoins. It is also used inside the Ethereum network to run applications. Moreover, it can be used to monetize the work done inside the…
It was co-founded by a millennial
Did you know that Vitalik, the co-founder of Ethereum, was born in 1994? He came up with the idea to create Ethereum in 2013, still a teenager. Dr. Gavin Wood bought his vision and co-founded the network the following year.
Ethereum hosts a majority of ICOs
Most of the emerging tokens are launched in Ethereum for their Initial Coin Offering sales. Over three-quarters of ICO sales are hosted on the blockchain. A majority of the ICOs are built on ERC-20.
Ethereum platform is an open-source
Ethereum allows users to work for it or build off it using Solidarity, the network’s programming language. Using this language, developers can create their own cryptocurrency and Dapps without downtime, fraud, regulation, or interference from third parties. The Ethereum community is ready to assist those willing to work with them. It is alleged that the…
Smart Contracts
These peer-to-peer contracts act as a means of collateral. The main goal of Ethereum services was to support smart contract deals. The smart contract eliminates the need for intermediaries, thus optimizing the system. Smart contracts have enabled the renewal and closure of incapacity to work certificates in the healthcare system and prescription of drugs. ERC-20…