What is Ethereum? Many experts believe that Ethereum is giving Bitcoin a run for its money. While Ethereum is considered to be the rising start of cryptocurrencies, experts say that this cryptocurrency may even help bring the world of blockchain to the masses. We’ve compiled the top 10 facts you need to know about this rising platform.
Number One: Crowdfunding Enabled Ethereum. That’s right! The original Ethereum was made possible thanks to group funding!
Number Two: Huge Businesses Support the Company. Huge companies like Microsoft and Barclays use Ethereum in their systems.
Number Three: More Than Cryptocurrency. The platform serves as more than just a cryptocurrency. The blockchain’s code is the standard platform used by major social media apps and decentralized games.
Number Four: Cybersecurity Is A Big Concern. The platform has received much criticism over its relatively lax cybersecurity. In light of this, users should beware that the blockchain is somewhat easy to hack.
Number Five: The Wave of the Future. Ethereum uses a code language called Solidity. Solidity works to make smart contracts and has sparked significant advances in the field of blockchain transactions. Many users believe smart contracts will bring blockchain to the masses.
Number Six: The Use Of Ether. Ethereum works as a platform that provides individuals the opportunity to make transactions using the cryptocurrency called Ether. Ether has no physical form and only exists as data on the internet.
Number Seven: One of the Initial Founders is Only 25 Years Old. Vitalik Buterin started working on Etheruem in 2013. At the age of 25, the innovator is worth more than $100 million.
Number Eight: Issues With Speed. One of its major issues initially was the platform’s speed. Ethereum 2.0 proposes to fix the platforms speed, along with other significant upgrades.
Number Nine: The Whitepaper. The platform initially started as a whitepaper written by Buterin while he was still working for Bitcoin. With the Ethereum whitepaper, Buterin laid down the foundations of his grand vision.
Number Ten: The Creator Wrote For Bitcoin Initially. Buterin initially wrote Bitcoin articles while he was in high school. At the time, he was making only $1.50 an hour. Thanks for reading!