Ethereum is the decentralized open-source blockchain system. That can provide smart contract functionality. Ethereum has its cryptocurrency called Ether. Solidity is the programming language of Ethereum. With the great features of Ethereum. It becomes the second largest market capitalized cryptocurrency.
Ethereum was firstly described by programmer Vitalik Buterin in 2013. It provides the feature of secure funding. You can securely transfer any amount of money from one place to another. Ethereum blockchain officially launched on July 30, 2015. Ethereum network can live with an initial supply of 72 million coins. Now, its become the most actively used blockchain in the world. The main goal of Ethereum is to become the global platform for decentralized applications. They want to allow their users from all over the world to write and run the software. This digital software can help to securely transfer money to reduce downtime and fraud.
Key Points About Ethereum
- Ethereum is an open-source blockchain-based platform. That can be used to create, and share business. It also provides financial services and an entertainment application.
- Ethereum can take the second largest market value in the cryptocurrency world.
- Ether or ETH is the associated cryptocurrency of Ethereum.
- Ethereum can charge gas (fees) on every transaction.
Who is the Founder of Ethereum?
Ethereum is the second-largest cryptocurrency in the world. It has a total of eight co-founders. Ethereum has a large number of crypto projects. There are two most important founders of Ethereum.
Vitalik Buterin lived in a citizen of Canada, Russia. He is the author of a white paper that describes Ethereum in 2013. They work hard daily to improve the Ethereum platform.
Gavin Wood is an amazing programmer who lives in British. He is the second most important co-founder of Ethereum. He designed the first technical implement of Ethereum in the C++ language. And he becomes the first chief technology officer. Firstly he worked with the research scientist at Microsoft. Then, he worked with their programming skills for Ethereum. After that, he moved to establish the web3 foundation.
Other co-founders of Ethereum
- Anthony Di Lorio
- Charles Hoskinson
- MIhai Alisie
- Joseph Lubin
- Amir Chetrit
Ethereum Business
$2236 is the market value of Ethereum at the end of May 2021. Ethereum is the second-largest cryptocurrency based on its value. So, Ether becomes the contender in the highly volatile cryptocurrency market. Ethereum has a $500 billion market cap in the real world. That’s why it is the best cryptocurrency for businesses. If you want to start a business. Then, I suggest you choose Ethereum. It gives you a lot of profit in the form of dollars.
Ethereum Based Projects
Ethereum can prove itself as codifying, decentralized, and secure cryptocurrency. There are many projects to test the underway concept. CosenSys is in partnership with Microsoft to provide Ethereum blockchain as a Service (EBaaS). So, Ethereum offers its users and developers a single-click cloud-based blockchain. In 2020 Advanced Micro Devices and ConsesSys decide to create a network of data centers.
What Makes Ethereum Unique?
Ethereum can provide its users a smart contractor platform. These smart contracts are computer programs. That automatically executes to fulfill the agreement between different parties on the internet. It can reduce the cost of intermediates. And provide trustable transaction reliability.
The purpose or principle of Ethereum is to provide a smart contract platform on the blockchain. It can increase the benefits of smart contract technology. Ethereum blockchain was designed, according to the instruction of Gavin Wood co-founder. This Ethereum blockchain provides one computer platform for the entire planet.
Ethereum blockchain enables you to host other cryptocurrencies called ‘tokens’. All this work can be done by the ERC-20 compatibility standard. ERC-20 is the most commonly used standard for the ETH platform.
How Many Ethereum Coins are there in Circulation?
The number of Ethereum coins are varied in different years. But at the end of 2017, 96 million Ether coins circulate in the market. 5 new Ether can be created in 14-15 seconds with each block.
Where You Can Buy Ethereum?
Ethereum is the second-largest cryptocurrency in the world. And it is relatively newer than bitcoin. That’s why the methods to buy Ethereum are less. But, Ethereum is openly traded. So, it is not hard to get your hands on. There are two methods to buy Ethereum cryptocurrency.
1. From Dealers
You can buy Ethereum cryptocurrency from dealers. The process of purchasing ETH is the same as other currency exchange dealers. It makes profits from the difference between their buy and sell price. But this price is slightly different according to the market. If you want to trade from the dealer. Then you need to precede a small premium on your sale. or purchase.
Example of Ethereum Dealers
- CEX.io
- Coinbase
2. Exchanges
Market exchanges are automated marketplaces. That is used to connect buyers automatically with sellers. But the Ethereum exchanging process is only be done. When the buyer or seller has the same price. If the price of the buyer or seller is different, no trade occurs. That’s why it is a time-consuming process for Ethereum exchanges than dealers.
CEX.io is a great website or Mobile App. That can provide you dealer or exchange feature. You can buy or sell Ethereum directly to the dealer. Or wait for the matched purchasers to sell their Ethereums. Ethereum has many local trading websites. But these sites are not popular too much. That’s why the user to these sites is less than bitcoin sites.
Criticisms of Ethereum
Ethereum is a type of cryptocurrency. So, it has some criticisms like other currencies.
The price of Ethereum cryptocurrency is volatile. So, no one knows about the next someday price of Ethereum. It increases the level of risk for Ethereum users. Maybe, you can lose your savings on this platform. But if you have great knowledge about the Ethereum platform. Then you can use it for your benefit.
If you want to becomes a successful Ethereum trader. Then you need to spend a great amount of time on this platform. That can become the reason to waste your important time and energy. Ethereum also charges a huge amount of money in the process of validating the transaction.
Conclusion
I hope you will understand what is the Ethereum cryptocurrency. I provide you some key factors that can help you to understand more clearly about Ethereum. I also provide you the details of the founder and co-founder of Ethereum developers. For your help, I give you two methods to buy Ethereum cryptocurrency. Use CEX.io mobile app to get the best experience about it. I believe the article about Ethereum is helpful for you and easy to understand. If you have any questions about this Ethereum topic, please ask them in the comment section. Read more about trading platforms.
