Ethereum is the second largest cryptocurrency and has maintained that position for a considerably long time. It is even poised to take over Bitcoin someday. Everyone believes in it and they love to buy Ether in large quantities. It offers more to the future than any other altcoin.
Do you think you know Ethereum really well? Probably not. So if you want to be an expert in Ethereum, keep reading these interesting tidbits about this incredibly hip altcoin.
Ethereum was a crowdfunded project
It is hard to believe but it’s true. The idea was pitched in by Vitalik Buterin but this was made by YOU. It is a testament to the power of the net. Buterin lacked the finances so he turned to the world and luckily enough, they delivered.
It is more than just a cryptocurrency
Though it is famous for being the second largest cryptocurrency there is a reason for it. Ethereum doesn’t only give us money but a code, one that will be very important in the years to come. It is the hottest development tools out in the market.
It is an open-source developing tool that allows anyone to build whatever they want. It has its own community of developers. If you want to start working then you should know that there is a whole community out there ready to support you.
Ethereum even has its own blockchain dedicated to developers for developing and promoting it called The Ethereum Alliance.
It’s tech giants second home
It is not loved by individual investors only but other major companies have started showing their interest in Ether. Tech corps such as Microsoft, HSBC, Intel, J.P Morgan, and Barclays have all found uses in Ethereum.
Buterin had to fight his way through
Vitalik Buterin had a disagreement with the core team which led him to the development of Ethereum. He wanted Bitcoin to have a scripted language to develop an application but that was turned down. He was opposed to his idea but still ventured out to develop a new platform that included scripting language that was more common. The project started in 2014.
Ethereum wasn’t always number two in the digital world
People who are new might assume that Ethereum has been on number two but that isn’t the case. Prior to Ethereum’s invention, Litecoin and other bitcoin mining alternatives found their spot next to Bitcoin. But Ethereum took over soon enough and has gained over 2,800 percent value.
Ethereum is an ICO hosting party
No, we don’t mean to imply that Ethereum throws parties for ICOs but what we mean by its that, more than three-quarters of all ICOs are hosted on the Ethereum blockchain. If you have invested in a new token, chances are that you have invested in a token sale that place on Ethereum. So be sure to thank Ethereum next time you invest in a cool ICO.
A centralized decentralized company
We don’t mean to throw you off the rails by mentioning the word centralized in it but Ethereum’s structure does come as a shock to many. Though it is 100 percent decentralized, Ethereum still has a core group of developers and employees who manage and promote the platform. Many investors believe that Ethereum is what it is because of them!
Ethereum is a still risky
Unfortunately, it is easier to hack in Ethereum’s pure form thus there are serious security threats. Cybersecurity is one of the serious concerns.
Ethereum doesn’t have the same limits as Bitcoin
Compared to the leading cryptocurrency, Bitcoin, Ethereum isn’t faced with similar problems. Bitcoin has a cap to it whereas Ethereum doesn’t. It limits the number of coins that can be mined each year, which are 18 million. In the future, there will be more Ether as compared to Bitcoin.
Now go ace that Ethereum trivia anyone throws at you. Tell them what you got!