Ethereum: What Is It, History, Perspectives and Where to Buy

Ethereum: What Is It, History, Perspectives and Where to Buy


The Story of the Creation of Ethereum

The author of the idea is Vitalik Buterin, a canadian programmer of Russian origin. He became interested in cryptocurrency back in 2011, at the same time he created Bitcoin magazine, which became the first major printed publication devoted to the topic of crypto-currencies.

The idea to create an Ethereum was born in 2013. The Creator of the Air together with the boy Baterina is Gavin wood. In the so-called “yellow book” Gavin described in detail what is the Ethereum cryptocurrency. Funds for the startup were collected through crowdfunding. It turned out to be successful, about 18 million dollars in bitcoins were collected, but in return the developers had to provide 60 million esters. Such a scale could not but attract the attention of large corporations, and Microsoft, IBM, Acronis and Sberbank were interested in the project.

What is Ethereum?

Technical details are unlikely to be of interest to many, so we will try to explain everything in plain language.

Ethereum is cryptopleura open source, operating on the technology of the blockchain. In other words, it is the base on which developers can build and deploy decentralized applications. As for the Ethereum cryptocurrency:

  • Ethereum is a virtual currency that can be used to transfer various data. These may include voting results, terms of agreements and other information.
  • The language that was used to create the Ether can be used to write any SOFTWARE and using any of the existing programming languages. Due to the reliability of the structure of the application, it can be used in the most critical sectors, be it the transport sector or the health sector. According to experts, this is what makes the platform popular and more and more people dream to buy Ethereum cryptocurrency.
  • In the Ethereum network, information is transmitted through smart contracts.
  • The name of one coin is “Ether”, which reflects one building block. Interesting is the fact that these Esters operate only within the network.  In this case, the block is a program that has a personal cache, balance and memory. It is the software that forms the basis of the virtual currency code.
  • The valuable advantage of ether Is a fairly simple and open program code of the system, interacting with many programming languages and allowing you to experiment almost indefinitely.
  • A group of professionals, headed by the developer, Vitalik Buterin, is working on improving the virtual currency. There is even a philosopher who deals with the prospects of cryptocurrency.
  • For the mining of this cryptocurrency does not need heavy-duty equipment, you can do a home PC with a graphics card of average power.
  • The Ether has no problems with scaling, transactions are carried out quickly enough, and the Commission is acceptable.

Where and How to Buy Ethereum

Ethereum cryptocurrency has become quite popular in a short period of time. Today, it is freely sold and bought on exchanges and in exchangers that specialize in cryptocurrencies. Exchanges are good because there is access to news and quotes, it is also possible to exchange information with colleagues, and even possible to withdraw coins to various wallets.

Read also about cloud mining in HashFlare: That it how to use also the calculator of earnings.

Ethereum Prospects

As the last 2017 year has shown, the price of $700 + ether is quite achievable. The increase in the price of Ethereum is only a matter of time. Ether can not be considered a competitor to Bitcoin, and even more so that it will replace. A niche this currency has already taken: took it to auction at all stock exchanges, many companies are adopting the Ethereum blockchain, even make their own cryptocurrency based on essential blockchain. Ethereum is primarily a technology. And this technology is now very popular, so doubt that the volume of ETH will grow in price is hardly worth it.

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