Ethereum
ETH
Ethereum is an open-source, public, blockchain-based, decentralized platform featuring
smart contract
function (scripting); it supports a cryptocurrency known as Ether (ETH). Among cryptocurrencies, Ether
is second in market capitalization only to Bitcoin. The platform is open-source software .
Ethereum was officially proposed in late 2013 by programmer Vitalik Buterin, with
other
first founders
including Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin. Development began in
2014
through a crowdfunding drive, and the network was then launched on July 30, 2015. It allows users to
create and deploy permanent and immutable decentralized applications with which other users can
interact. This implies a class of financial applications that are conducted over the main Ethereum
platform, rather than controlled in the traditional, centralized way by a large financial
organization.
Ethereum can be used to create, own, and trade NFTs that represent unique digital assets, and it
allows
for associating and including related pictures. Besides being used to launch other altcoins, the
ERC-20
token is used to represent a wide variety of other assets in fungible forms.
Ethereum Transitioned from Proof of Work to Proof of Stake Ethereum changed its
consensus
algorithm from
proof-of-work to proof-of-stake in the upgrade that merged Eth1 and Eth2 chains, happening on
September
15. That will make the system between 100 and 1000 times more economical than it is now.
-
CryptoLib Rank - 2
-
Market Cap (USD) - $313.3 B
-
Max Supply - 120.28 M ETH
-
Circulating Supply - 120.28 M ETH
