Ethereum is a popular topic these days, with the power of cryptocurrency becoming more mainstream.
Let’s start with what is exactly ethereum? It is in fact a type of cryptocurrency that works on the basis of a blockchain network.
It has recently gained popularity in the media, it is also known as ETH. The diamond or lozenge shape coin is known as ETHER.
Ethereum began in 2013, and is now giving other cryptocurrencies a run for their money. Ethereum also allows for the creation and exchange of NFTs, which are non-interchangeable tokens connected to digital works of art. It is seen as an alternative to bitcoin.
Top 5 Ethereum facts
- Ethereum was initially crowdfunded.
- Ethereum is now supported by large businesses.
- Ethereum was first created by a person named Vitalk Buterin a Russian/Canadian who also co-founded Bitcoin Magazine.
- The Ethereum Alliance of EEA is a collaboration of startups.
- Ethereum is an open sourced blockchain which was forked in 2016 into two seperate blockchains: Ethereum and Ethereum classic.
The future of ethereum
Only time will tell where this new found cryptocurrency boom will lead us to. In the meantime ethereum is now standing as the second-largest cryptocurrency in the world.