If you are someone who is involved in the online trading of the cryptocurrency then you would definitely know what Ethereum is, and for those who are new to the industry, who don’t know about it, we will share with you what it means. Ethereum is an online software platform which is based on the blockchain technology.
Who are the Founders of Ethereum?
The idea of developing Ethereum was inspired by the Bitcoin, which was a platform to send and receive through an online platform. After devoting a lot of time in the bitcoin industry, a 19-year old boy from Toronto, Vitalik Buterin came up with the idea of Ether. What inspired Vitalik Buterin was the shortcoming he faced when he was trying to develop applications based on Bitcoin. When Buterin developed the Ethereum, he planned on making a robust platform for the developers to design blockchain applications. He was sure that the potential of the blockchain was not just limited to one financial application but to more than just that. Buterin then developed a blockchain that could deal with more than just the financial applications in the cryptocurrency world. The founder, Vitalik Buterin releases a well developed and fully explained white paper of the project in the year 2013 and Ethereum was officially released in the year 2014. Along with Vitalik Buterin, more founders who were involved in the process were, Mihai Alisie, Anthony Di lorio and Charles Hoskinson. He also announced that he was working with Dr. Garvin Wood and Joseph Lubin who helped in releasing the yellow paper of the project.
What are Ethereum functions and advantages?
Many people feel that Ethereum is similar to bitcoins, which were another platform for trading online, but actually they are not. Both of them, Ethereum and bitcoins, have the similar features. Bitcoins are an electronic cash system. They are used to track the ownership of the digital currencies, whereas Ethereum, miners mine to earn ether. Ethereum is a better and an open software platform, which is based on a blockchain technology that enables the developers to buy and deploy applications that are decentralized. Ether is a type of token that is used to fuel the network. Many people use ether as a mode of transaction to pay for fees and services on the cryptocurrency world. They are also tracked on the blockchain which is a public ledger of all the transactions. So we can say the both are similar but Ethereum is much more advanced than other cryptocurrencies.
What is Blockchain and Technology?
Ethereum and the cryptocurrency industry works on a technology that is based on blockchain. This technology gained recognition with the introduction of Bitcoin, which meant dealing in digital currencies. You don’t really need to know exactly how the blockchain technology works, but if you have a little knowledge of it you are good to go. So to start with, Blockchain is an innovation that has become the backbone of the new type of internet, where digital currency trading happens. This technology included a list of growing records which are linked using the cryptography. These can be used by the public and can be used by the cryptos. You can say this is an electronic ledger for the economic transactions, which can be recorded not just financial transactions but virtual value of everything as well. These records that are used are known as the blocks.
How to Invest or Trade in Ethereum?
Like we said, Ether is based on the same technology as that of the Bitcoin, but unlike bitcoin, it doesn’t only allow to create an online platform for making payments online. And we have witnessed so many people invest and trade in them to earn. Many people have invested in Ethereum as well, as this has earned the trust of a lot of people. The cryptocurrency are still fairly new in the market, so people don’t really know much about how to invest in these. Investing and trading in the ETH is very easy and the result are great. You can easily download a wallet or register yourself to an online wallet. These wallets are just like banks, you can buy, deposit and trade the Ethereum. Well actually the trading is done in Ethers which are the tokens that are used for trading. You can use a credit or a debit card to buy these token from these online platforms. Whenever the price is right you may buy the tokens and then just sell them off when you feel that the price is better than when you bought them and that’s all.
Ethereum.org blog news
- Security Alert: Ethereum Constantinople Postponement
- Ethereum Constantinople Upgrade Announcement
- Announcing an Ethereum Foundation Grant to Parity Technologies
- Call for Submissions! DApps Solving Real-World Issues
- Devcon4 Videos and Pictures Released!
- How the Ethereum Foundation grants program makes decisions
- Announcing Our dc⟠ıv Sponsors and Supporters!
- Ethereum Foundation Grants Update – Wave IV
- Solidity Bugfix Release
- Ethereum Foundation Grants Update – Wave III