What is Ethereum?

If you would like to know what exactly is Ethereum, how it operates, and what it could be used for, with no going deep into the technical abyss, this guide is excellent for you. Get a lot more details about Ethereum QR Code Generator

Ethereum is actually a global, decentralized platform for money and new types of applications. On Ethereum, you are able to write code that controls money, and create applications accessible anyplace inside the world.

What is Ethereum?

Beyond Bitcoin and first generation decentralized applications

While generally related with Bitcoin, blockchain technologies has several other applications that go way beyond digital currencies. In truth, Bitcoin is only one of several hundred applications that use blockchain technology today.

Till somewhat recently, building blockchain applications has required a complicated background in coding, cryptography, mathematics in addition to substantial sources. But times have changed. Previously unimagined applications, from electronic voting and digitally recorded property assets to regulatory compliance and trading are now actively being created and deployed more quickly than ever before. By delivering developers together with the tools to create decentralized applications, Ethereum is generating all of this attainable.

Key Highlights

November 2013: Vitalik Buterin publishes the Ethereum whitepaper.

January 2014: The development in the Ethereum platform was publicly announced. The original Ethereum development group consisted of Vitalik Buterin, Mihai Alisie, Anthony Di Iorio, and Charles Hoskinson.

August 2014: Ethereum ends their ICO and raises $18.4 million.

May perhaps 2015: “Olympic” the Ethereum testnet releases.

July 30, 2015: The very first stage of Ethereum’s development, “Frontier” was released.

March 14, 2016: Homestead, the very first “stable” Ethereum release, went out on block 1,150,000.

June 2016: The DAO hack happens plus the $50 million worth of Ether, which was 15% of the total Ether in circulation back in the time.

October 25, 2016: Ethereum Classic forks away from the original Ethereum protocol.

October 16, 2017: The Metropolis Byzantium hardfork update takes place.

February 28, 2019: The Metropolis Constantinople hardfork update happens.

At its simplest, Ethereum is definitely an open software platform based on blockchain technology that enables developers to construct and deploy decentralized applications. 


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