Ethereum is the second largest cryptocurrency and has maintained this position for a very long time. It is even ready to take over Bitcoin one day. Everyone believes in it and they love to buy ether in bulk. It offers more for the future than any other altcoin.
Do you think you know Ethereum really well? Probably not. So, if you want to be an expert on Ethereum, keep reading these interesting details about this incredibly hip altcoin.
Ethereum was a crowdfunding project
It’s hard to believe, but it’s true. The idea was brought up by Vitalik Buterin, but this was done by YOU. It is proof of the power of the web. Buterin lacked the finances so he turned to the world and luckily they delivered.
It’s more than just a cryptocurrency
Although it is known as the second largest cryptocurrency, there is a reason for it. Ethereum not only gives us money, but also a code that will be very important in the years to come. It’s the hottest development tool out there.
It’s an open source development tool that anyone can use to create whatever they want. It has its own community of developers. When you’re ready to get started, you should know that there is a whole community out there ready to support you.
Ethereum even has its own blockchain dedicated to developers for developing and promoting the Ethereum Alliance.
It is the second home of the tech giants
It is loved not only by individual investors, but also by other big companies that are showing their interest in ether. Tech corps like Microsoft, HSBC, Intel, JP Morgan, and Barclays have all found uses in Ethereum.
Buterin had to fight his way through
Vitalik Buterin had a disagreement with the core team that led him to develop Ethereum. He wanted Bitcoin to have a scripting language to develop an application but that was rejected. He was against his idea, but still dared to develop a new platform that included a more common scripting language. The project started in 2014.
Ethereum hasn’t always been number two in the digital world
People new to it might assume that Ethereum was in second place, but that’s not the case. Before Ethereum was invented, Litecoin and other Bitcoin mining alternatives found their place alongside Bitcoin. But Ethereum took over early enough and has gained over 2,800 percent in value.
Ethereum is an ICO hosting party
No, we don’t mean to imply that Ethereum is hosting parties for ICOs, but what we mean by that more than three quarters of all ICOs are hosted on the Ethereum blockchain. If you have invested in a new token, chances are that you have invested in a token sale on Ethereum. So thank Ethereum the next time you invest in a cool ICO.
A central decentralized company
We don’t want to throw you off the rails by mentioning the centralized word within, but the structure of Ethereum comes as a shock to many. Even though Ethereum is 100 percent decentralized, it still has a core group of developers and staff who manage and promote the platform. Many investors believe Ethereum is what it is because of them!
Ethereum is still risky
Unfortunately, it’s easier to hack in the pure form of Ethereum, leaving serious security threats. Cyber security is one of the serious problems.
Ethereum doesn’t have the same limits as Bitcoin
Compared to the leading cryptocurrency Bitcoin, Ethereum does not face similar problems. Bitcoin has an upper limit, but Ethereum does not. It limits the number of coins that can be mined each year, which is 18 million. In the future there will be more ether compared to Bitcoin.
Now you go ace that someone throws Ethereum trivia at you. Tell them what you got!
Comments are closed.