What is Ethereum?
Ethereum is the blockchain with the largest number of applications and uses in existence today, to the extent that it is responsible for the birth of much of the crypto industry. The possibility to create and use smart contracts, ERC20 tokens and dApps has led to the foundation of the Ethereum Enterprise Alliance (EEA) which has over 100 companies supporting its development, including Microsoft and JP Morgan. On the 15th of September 2022, the Ethereum blockchain passed from the Proof-of-Work consensus mechanism to Proof-of-Stake thanks to The Merge update.
Why buy Ethereum?
Ethereum’s multiple applications – on which much of the crypto world is based – need Ether to use the network. This creates a very strong demand for the token, placing it in second place in market dominance since time immemorial. Only Bitcoin is capable of surpassing Ether. Over the course of 2021 Ether has improved its scalability, facilitating the entire ecosystem of DApps, tokens and projects that rely on its blockchain.
How was it created?
Who founded Ethereum? The founder is called Vitalik Buterin, and he created the blockchain together with Gavin Wood, Jeffrey Wilcke, heikoheiko and other developers. The project was created in 2013, when Buterin was still a student. The vision of Ethereum was — and still is — to create a world computer on the blockchain. In 2014 the first versions of the software were released, including the language needed to develop smart contracts. The team managed to launch Ethereum thanks to an ICO, with which it raised $18.4 million in BTC. In 2017, the nonprofit organisation Enterprise Ethereum Alliance was founded. The organisation promotes the development of technological solutions based on Ethereum.
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