Ethereum (ETH): What It Is & Information
Ethereum is, first of all, a decentralized system which means it is not controlled by any single governing entity. An absolute majority of online services, businesses, and enterprises are built on a centralized system of governance.
With the 2nd largest Market Cap listed on CoinMarketCap, Ethereum has drawn a lot of attention from investors and
crypto enthusiasts the same as from big Companys etc.
This relatively new cryptocurrency not only presents a significant change to the status quo, but it also allows for the quick development and deployment of new applications for Developers. Ethereum essentially enables dozens of new and extremely innovative cryptocurrencies to exist today.
Although it does have its differences on the surface of Ethereum functions as a cryptocurrency much like most others. Ethereum’s token called “ether” works very similar to bitcoin. You can buy and sell it on Exchanges with confirmations for transactions handled over the blockchain. The Ethereum Wallet is a gateway to decentralized applications on the Ethereum blockchain. It allows you to hold and secure ether and other crypto-assets built on Ethereum, as well as write, deploy, and use smart contracts.
*ERC20 is a technical standard used for smart contracts on the Ethereum blockchain for implementing tokens (Source Wikipedia)
Ethereum Technical Information:
Coin limit | 99.421.341 ETH (MAX 100 Million) |
Algorithm | ERC-20* Token |
Mean block time | 10 Seconds |
Difficulty retarget | 2016 blocks |
Block reward details | 5 per every new block |
Initial reward | 5 Ether (ETH) |
Current block reward | 5 Ether (ETH) |
Block explorer | etherscan.io |
Created by | Vitalik Buterin, Joseph Lubin, Gavin Wood, etc. |
Creation date | October 7th, 201 |
: What It Is & Information Ethereum is, first of all, a decentralized system which means it is not controlled by any …){kind=link}
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