What is Ethereum? Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smartShow more [+] contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction based state transitions. In popular discourse, the term Ethereum is often used interchangeably with Ether to refer to the cryptocurrency that is generated on the Ethereum platform.
Ether is a cryptocurrency whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed. Ethereum provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014. The system went live on 30 July 2015, with 11.9 million coins "premined" for the crowdsale. This accounts for approximately 13 percent of the total circulating supply.
In 2016, as a result of the collapse of The DAO project, Ethereum was split into two separate blockchains – the new separate version became Ethereum (ETH), and the original continued as Ethereum Classic (ETC). The value of the Ethereum currency grew over 13,000 percent in 2017.
Trade Group Asks U.S SEC Not to Classify Ethereum as a Security
As the U.S SEC works to classify and regulate cryptocurrencies, ICOs, and related businesses proponents are arguing their case for softer regulation for Ethereum. The Venture Capital Working Group consists of lawyers and representatives from venture capital companies Andreessen Horowitz and Union Square Ventures. The group met with officials at the U.S Securities and Exchange […]
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Ethereum Takes $620, How Might the Parity Vote Affect Markets?
Ethereum has made a new recent high today, rising slightly above $640, up another $30 or so on this very spring Sunday. Its trading volumes are sort of unaffected, same...
The post Ethereum Takes $620, How Might the Parity Vote Affect Markets? appeared first on Trustnodes.
Ethereum currently validates transactions by using a Proof of Work algorithm, meaning that hashing power is necessary, not only for mining new coins but also for processing transactions and to keep the entire network operational. To make the system scalable and decentralized, Ethereum will switch to a Proof of Stake protocol for validating transactions, where […]
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