Ethereum: what kind of cryptocurrency is that?
Exchanger monitor OKchanger helps find favorable exchange rates for cryptocurrency Ethereum («ETH» on exchanges as well as «Ether» colloquially) on the best electronic currency exchangers.
Ethereum
Who created Ethereum?
Ethereum was invented by a Russian-born Canadian prodigy Vitalik Buterin who with his parents moved to Canada at the age of 6. At a very young age, Vitalik showed affinity and interest toward computer science. When Buterin was 17 years old, he dove into the Blockchain technology and Bitcoin. One year later, he established Bitcoin Magazine, the first printed publication on the topic of cryptocurrencies. Yet another year later, he created his own cryptocurrency under the name of «Ethereum». The cryptocurrency sparked interest among investors, bankers as well as everyday enthusiasts.
Vitalik Buterin
Why is Ethereum worth our attention?
Ethereum was written in a programming language, named Solidity, whose functionality surpasses the functionality of Bitcoin scripts. Solidity’s «Smart contracts» are used in jurisprudence, banking, IoT, gambling and dividend payouts.
Ethereum is complex: it is both «smart contracts» and cryptocurrency ETH, money that has value and serves as a means of payment. «Ether» transactions go through really fast due to the exceptionally wide bandwidth of the Ethereum network.
The financial side of Ethereum’s history is also interesting. The development and launch of the project required funding that the management decided to attract through crowdfunding. The number of people who wanted to participate was staggering. As the result, the cryptocurrency raised 18 million dollars in bitcoins in one and a half months, which beat the previous project cofinancing record. All participants benefitted from their interest: they were given equivalent amounts of ETH. To be specific, at that time, 1 BTC was equal to 2000 ETH and 580 USD. Nowadays, 1 ETH costs 230 USD, and 2000 ETH has become 460,000 USD. This is what a «truly profitable investment» really is.
ETH Programmers have been constantly working on the project’s development, this is why Ethereum users today have high-performance and user-friendly desktop and mobile wallets.
Ether mining is doable only with graphics cards, which is why multitudes of miners jumped on the bandwagon. It’s a fair game, no ASICs.
IBM, Microsoft, J.P. Morgan Chase, and other major corporations helped Vitalik’s project get on track. Vitalik himself didn’t slack, he was constantly generating new ideas. Thanks to the participants’ endeavors and help, cryptocurrency Ethereum has risen to prominence so fast.
Ethereum is going to continue to rise: there are plans to expand the network’s bandwidth to 100 000 transactions/sec, and to reduce the block generation time from 14.5 to 4 seconds. By the way, Bitcoin is notorious for its extremely long block generation time, which takes 10 minutes.
ETH is the second largest cryptocurrency in the world after Bitcoin. Their market caps are 26.1 billion and 41.3 billion USD respectively (as of 30.06.2017). ETH is a relatively young cryptocoin in comparison with BTC, and there is a bright future ahead of it.
ETH Statistics
Where to buy Ethereum?
You too can join the Ethereum project and make some money. Just like those people who took part in the crowdfunding campaign did.
Remember, you can buy and sell «Ether» by using the services provided by exchange rates monitor OKchanger or cryptocurrency exchanges where ETH trading takes place.
List of e-currency exchangers that exchange OKPAY USD for Ethereum
ETH/USD rate on cryptocurrency exchange EXMO
