Ethereum is a cryptocurrency and a platform for decentralized applications that run on a custom-built blockchain. Ethereum has been around since 2015, but many people don’t know about it or how Ethereum works. Ethereum is an open-source software project with contributors from all over the world. Ethereum is used to pay for transactions made in its own currency called ether, which was worth $1,000+ at one point in 2017. In this article, we will discuss some of the Ethereum news that you need to know!
The first thing you need to know is that Ethereum is the name of a platform for building decentralized applications (apps-). Ethereum co-founder Vitalik Buterin proposed this feature in 2013. Ethereum was initially described by Vitalik in his white paper “A Next-Generation Smart Contract and Decentralized Application Platform”
The technology behind Ethereum allows multiple computers to run software that produces consensus on which transactions are valid, meaning there’s no need for an intermediary like a bank or government. This form of distributed computing uses blockchain technology along with smart contracts – computer programs that execute when conditions set forth are met. These contracts can be used to enable peer-to-peer trade without third parties while lowering costs associated with overhead and removing censorship risks.
Ethereum functionaries use the term “ether” to describe Ethereum’s tradable cryptocurrency. Ethereum is not a security, but there are concerns about its use in illegal activities because it uses the same technology as bitcoin – blockchain.
Ethereum news often covers Ethereum development updates and upcoming features of Etherium. There have been reports that Ethereum is trying to expand into China despite government resistance through an alliance with Alibaba Group Holding Ltd.’s Jack Ma Yun
Decentralized applications (Dapps) also known as “smart contracts,” running on top of Ethereum can transfer funds or provide utility without third parties like banks or lawyers involved which makes Dapps more efficient than centralized services. Many new projects involve using blockchains for identity management, digital rights management, supply chain tracking, asset registry, and other purposes. Ethereum is also being tested by Microsoft as a decentralized basis for cloud services
Ethereum’s market capitalization has grown from $700 million in January 2017 to over $45 billion, making it the second-largest cryptocurrency after Bitcoin.
Ethereum continues to attract big investors and recently secured nearly $200 million of investment through planning an ICO (Initial Coin Offering) that allows companies/projects to pre-sell their crypto coins before actually launching these new ventures.
Although Ethereum was not designed specifically with use cases involving illegal activities or money laundering, its ability to create smart contracts on top of the blockchain makes it easy for scammers and hackers to take advantage of users who may be less tech-savvy than others.
Ethereum is currently trading at around US$450 per Ethereum coin. Ethereum is a popular cryptocurrency, and it has been used as the foundation for many other cryptocurrencies because of its unique features.
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