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

Is Bitcoin used by criminals?

There is often public misconception that Bitcoin is mostly used by criminals, but nothing could be further from the truth. This is mainly because many people think Bitcoin is anonymous, when in fact it’s the opposite - all Bitcoin transactions are transparent for the whole world to see. People might not be able to link the identity to Bitcoin right away (that is also why it is sometimes called ‘pseudo anonymous’), but once they do, they can track everything you’ve ever done on the Bitcoin network. This makes it a particularly bad tool for illicit use. While Bitcoin might actually turn out to be one of the safest and least ‘bad’ ways to use money, it doesn’t mean that criminals don’t use it. Just like normal money, they do. But there are two important things to note - firstly, that as more data becomes available in the industry, the more it is becoming clear the number of bad uses is very, very minute - if the entire Bitcoin ecosystem is represented by a big mountain, the size of...
1 comment
Read more

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

What is Cryptocurrency

A  cryptocurrency  is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Simply define,  Cryptocurrency is a form of digital money that is designed to be secure and, in many cases, anonymous.   It is a currency associated with the internet that uses cryptography, the process of converting legible information into an almost uncrackable code, to track purchases and transfers.  Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies. Cryptography was born out of the need for secure communication in the Second World War. It has evolved in the digital era with elements of mathematical theory and computer science to become a way to secure communications, information and money online. Bitcoin, created in...
Post a Comment
Read more