What is Ethereum ?
Ethereum is an open software platform, based on blockchain technology, which enables developers to build and deploy decentralized applications.
ETH is more than a cryptocurrency. Instead of offering only an electronic cash system, the Ethereum blockchain focuses on running the programming code of any decentralized application. Ethereum can decentralize nearly any centralized service. For example loans provided by banks, title registries, voting systems and much more. The key-components to enable this are smart-contracts. (self-operating computer programs that automatically executes when specific conditions are met) This prevents any possibility of censorship, fraud or third party interference. Therefore, Ethereum aims to be the best and only super-computer in the world.
The cryptocurrency Ether fuels the Ethereum-network and application developers use it to pay for transaction fees and services on the network.
History – Ethereum Info
Founded: 2013 by Vitalik Buterin, Gavin Wood and Jeffrey Wilcke
– July 2015: release of the Ethereum platform
– March 2016: Ethereum market-capitalisation over 1 billion USD
– June 2016: An anonymous entity stole 50 million USD in Ether – Solution: “hard fork” to reappropriate the stolen funds – Result: Ethereum network split in two: Ethereum (forked blockchain) and Ethereum Classic (continued on original blockchain)
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