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Ethereum cryptocurrency: general information and history

Ethereum cryptocurrency: general information and history

Articles / 2018-11-29 13:34 PM

Ethereum cryptocurrency, called Ethereum or Ether, was developed and is now one of the main contenders for the Bitcoin crown. As you know, BTC and ETH are similar in many ways, but there are also a number of significant differences between them.

Many people ask who created Ethereum The main inspirer and one of the creators of Ethereum is Vitalik Buterin, a developer from Canada, who was born Russia.

Ethereum founder Vitalik Buterin had some programming experience and has been extremely interested in the world of cryptocurrency since 2011. Work on the creation of his own project began in 2014 with crowdfunding. After the project attracted more than 31 thousand BTC or 18 million dollars, as well as the attention of banking and financial institutions, it was partially launched in 2015. The full-fledged work began in 2016 and from that moment the new cryptocurrency began to rapidly gain popularity.

What is the uniqueness of the Ethereum cryptocurrency and what are its main features?

Ethereum technology, on which this e-currency is based, is quite unique and in many ways superior to Bitcoin. We are talking about smart contracts that allow you to register transactions involving various assets. This is one of the unique features of the considered cryptocurrency.

In addition, we can say that it has the following features: increased mining productivity, as well as high transaction processing speed. Moreover, Ethereum is characterized by the fast generation of new blocks, stable profit from mining and the presence of its own internal code.

What was Ethereum created for?

Many believe that Ethereum was created to correct the shortcomings that Bitcoin has. Despite a number of undeniable advantages, Ethereum can hardly be called Bitcoin 2.0. However, the Ethereum cryptocurrency firmly ranks second among all the other ones in the world.

It is also well known that the launch of Ethereum is associated with the cryptocurrency boom of 2016 and 2017. During this very period, there was the maximum concentration of startups and new projects that attracted huge financial investments. At the moment, Ethereum has a good forecast for further growth of the exchange rate.