Hello, everyone has long known such a cryptocurrency as Bitcoin (BTC) and what it is. Therefore, today we will talk about a fairly new and no less important than Bitcoin, for cryptography, a currency that is called Bitcoin 2.0. But with Bitcoin, they have more differences than similarities.
What is Ethereum?
If you do not already have an Ethereum wallet, then I invite you to read my article first, where I detail how to create an Ethereum wallet.
Ethereum is a decentralized platform for launching smart contracts.
Decentralization is the process of redistribution, dispersion of functions, forces, power, people or things from a central location or governing body.
Smart-contract (smart contract) – an electronic algorithm that describes a set of conditions, the implementation of which entails some events in the real world or digital systems.
Understandable about Ethereum
Ethereum is not only a cryptocurrency, but also a platform for creating other crypto-currencies, for storing any information, and on this platform, you can conclude contracts, buy-sell something after meeting the conditions you specified, without the participation of 3 persons.
Brief and informative about the history of Ethereum
The creator and one of the developers is a young genius with Russian roots – Vitaliy Buterin. In 2013, Buterin wrote the first line of a new online project. In 2014 they began to raise funds for the development of the platform through crowdfunding. As a result, 31,591 BTC was received for the financial growth of Ethereum, which at that time was equivalent to $18,439,086 exchanging them for 60,102,216 Ethereum, and on July 30, 2015, the new cryptocurrency was sold as a blockbuster Ethereum.
In April, a group of developers created one of the first programs on the Ethereum platform called decentralized autonomous organization (DAO). The project was built so that all attracted investments (Ethereum) from investors were transferred to the implementation of promising projects. The DAO raised more than $160 million in Ethereum from 11,000 investors, becoming the largest crowdfunding project in history.
On June 17, 2016, an unknown hacker exploited the vulnerability in The DAO code and deduced about 50 million US dollars from it. However, an attacker will not be able to withdraw coins from the newly created DAO child within the next 27 days (the DAO subsidiary creation window). June 20, Buterin with his assistants decided to make a hard fork, which helped to return the stolen Ethereum to the original owners. Thus, the Hard Fork led to the separation of the blockade on Ethereum and Ethereum Classic (ETC), ETH users agreed with the return of lost Ethereum to investors, and ETC users were against it.
“For them, really” “code is the law”, – said di Yorio. “They believe that smart contracts should be unchanged, even if the goal of code change is to return millions of stolen Ethereum to legitimate owners.”
About the Ethereum course
His first serious take-off Ethereum was in January 2016. He is from $1.5 for five and a little month broke out to his new, at that time, a maximum of $21 for 1 ETH.
But, as we know, in June there was a Hard-fork, and this led to a drop in the price of Ethereum. To be more precise, the Ethereum course began to fall from June 17 until the end of December 2016. At the end of December, the price of 1 ETH was $7.
January-June, 2017 Ethereum decided to repeat its unexpected price rise in 2016, and not only to repeat, but also to multiply it by ten times. Consider yourself: in June 2016 the maximum price was $21, at the beginning of June 2017 its rate varies in the range $200-$260.
P.S. Everything says that in summer the rate will reach $400 and this is not the limit. Dear friends, it’s time to make money, go for it!