Skip to main content

Where did Ethereum come from?

Ethereum was first mentioned in 2013 in a whitepaper by Vitalik Buterin, a developer who was working on Bitcoin at the time.
Buterin believed that Bitcoin should be made more customisable. He believed Bitcoin should go a step further than simply being a store of wealth and that it needed smart contract features to determine automatically when payments should occur, for example. This project was not taken up for Bitcoin, therefore Buterin created Ethereum in 2014 for this purpose.
Ethereum pioneered what’s known as an initial coin offering (or ICO), selling to initial investors about 60 million Ether tokens while the project was still in development. This kickstarted a large drive to develop and further promote the Ethereum ecosystem whilst paying for legal fees and development costs.
Since then, Ethereum has grown substantially. Multiple other projects have launched, and begun development on the Ethereum platform, with varying degrees of success.
Little Help Needed here please. God Bless you ALL.
BTC: 134isSGKxWgNG8ZuHC85fg4LfTghbYmEGV
Ether: 0x390820F8326EDdf5E2738fe23Cf2176238478721
Ethereum pioneered the initial coin offering.

Comments

Post a Comment

Popular posts from this blog

Bitcoin as a payment system

How did we transfer money thousands of years ago, when we all still lived in little villages and knew and trusted each other? We simply exchanged things with each other, as we still do with cash today. But when money moved online things got a bit trickier, and the way the banks and credit card systems dealt with this was to create a ‘ledger system’ – basically records of account showing who owns what. For example, if John wants to transfer $100 to Sarah online, the bank moves the money from John to Sarah. John cannot do it himself because there is a risk he might cheat – he can copy and paste the digital money (it’s only numbers on a computer after all) and send the $100 to two different people; nobody would know. Instead, we trust the bank to send the money and make sure it’s only sent to one person. Now, the bank can also cheat, but we trust them that they don’t. If the transfer is between two accounts at the same bank, it’s easy to transfer, but if it’s between two differe...
Post a Comment
Read more

Bitcoin Price Increases to $6,550 as Market Regains Confidence in Mid-Term Growth

The bitcoin price has increased to over $6,550, after dipping below $5,600 on November 12. Analysts have attributed the recent increase in the price of bitcoin to CME Group’s confirmed launch of its bitcoin futures exchange by the second week of December. Over the past two months, several high profile investors including billionaire hedge fund legend Mike Novogratz emphasized that a rapidly growing number of institutional and retail investors are preparing to engage in bitcoin and invest in the market. Most of the large-scale hedge funds and institutional investors can only invest in assets and stores of value with high liquidity, because in most cases, they are required to allocate tens of millions of dollars in minimum. In the past 12 months, the liquidity of bitcoin as increased substantially along with its market valuation, attracting the interests of institutional investors. In the upcoming months, upon the launch of CME’s bitcoin futures exchange, infrastructure around...
Post a Comment
Read more

Bitcoin Demand Surges in Zimbabwe Following Successful Coup

The price of Bitcoin surged by as much as 10% on the  Zimbabwean  exchange Golix in mid-November 2017 after the military successfully staged a coup d'état. The country is already known not to have a strong economy; Zimbabwe’s  peak month of inflation  was November 2008, when the rate of inflation hit an estimated at 79.6 billion percent. Based on data from the Golix  website , Bitcoin’s price  has skyrocketed  to up to $13,499 in the country, nearly double its rate in the international markets. As of November 15, Bitcoin was trading at $13,010 in the country’s capital Harare. Crisis in Zimbabwe and its effect(s) on Bitcoin The Zimbabwean army assaulted Harare on November 14 following a week of confrontation with the administration of President Robert  Mugabe . According to the army, the move was aimed at preventing an expected violent and deadly civil war in the country. Mugabe has been the country’s head since 1980. Due to the politic...
Post a Comment
Read more