Ethereum (ETH) is the native cryptocurrency of Ethereum, decentralized blockchain protocol, which enables developers to build its ecosystem by establishing token or decentralized application through smart contracts openly.
Essential details:
- In 2013, programmer Vitalik Buterin and others created a new technology called Ethereum to change how the internet works. Instead of using the computer system of a big company like Google and Microsoft (a centralized system), Ethereum lets software applications run on a network of many private computers (a decentralized system).
- Ethereum is not controlled by Vitalik and his team - or any other person, company, or government. It’s run by the community of its users. Ethereum users are located all around the world and volunteer their computers to help run the Ethereum network. Information on this network is sent directly from person to person, instead of from person to company to person. This is known as a peer-to-peer system (P2P).
- The combination of Smart Contracts and Blockchain technology is what makes Ethereum so valuable because it removes the need for a costly third party to run internet applications and to send money.
- Ethereum platform and Ether currency work together: Every time money is transferred by an Ethereum Smart Contract, Ether is used for that transaction.
- Ethereum blockchain have highest number of transactions at present.
- There are over 3,000 decentralized applications built on Ethereum blockchain.
Why invest in Ethereum?
- Strong Ecosystem
Ethereum is the biggest blockchain ecosystem with numerous facilitations and decentralized applications.
- Great Quantities of Users
Ethereum blockchain has over 160 million of unique addresses.
- Centre of Innovation
Many innovative projects have developed on Ethereum blockchains