Ethereum (ETH/ETC)

Ethereum is the creation of Vitalik Buterin, a Russian-Canadian programmer and co-founder of Bitcoin Magazine.


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Key Facts

  • Ether is the token of the Ethereum blockchain.
  • Ethereum is a decentralised platform that runs smart contracts.
  • Smart contracts are applications which run exactly as programmed without the possibility of any downtime, censorship, fraud or third party censorship.
  • Ether is the second largest cryptocurrency (at the time of writing) by market capitalisation.
  • There is some talk in the crypto-space of a flippening, where Ethereum will become larger than bitcoin by market capitalisation.
  • Some do not regard Ethereum as a cryptocurrency, but as gas for smart contract applications.
  • Ethereum allows you to design your own cryptocurrency and is the basis for a number of altcoins. ICO’s (Initial Coin Offerings) are often built on Ethereum and are able to raise millions of dollars on the basis of just an idea.
  • Ethereum Classic was created as a result of a hard fork of the Ethereum blockchain after a hack on the DAO (Distributed Autonomous Organisation).

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