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Home Ethereum News

Ethereum News

After Bitcoin, Ethereum is the second most popular cryptocurrency in the world. ETH is a pioneer in the field of cryptography - it was here where the so-called "smart contracts" were applicable for the first time. They have contributed to the emerging of many other cryptocurrencies and to the general development of the market. Because of its good market capitalization, modern technological solutions and price stability, Ethereum is a type of investment that traders choose very often. Are you looking for the latest information about the Ethereum cryptocurrency? You've found the right place, then! In the "Ethereum news" tab you will find the latest news about this coin and thanks to it, you will make good investment decisions and at all times you will be up to date. The Ethereum network was established in 2015 in response to Bitcoin's technological limitations. The creator of ETH is a Canadian developer of Russian origin - Vitalik Buterin. It is important to know, that the cryptocurrency operating on the blockchain infrastructure is not called Ethereum, but Ether. In the cryptocurrency industry, these names are often used interchangeably. Initially, Buterin wanted to introduce technological improvements for Bitcoin. Since his idea, however, was not welcomed in the cryptocurrency industry, in 2013 the developer decided to create his own currency. In November 2013, Ethereum whitepaper was published describing the suggested innovative technology. A milestone in the development of the cryptocurrency industry took place in January 2014. It was then that the creation of the Ethereum platform was officially announced. The original project team consisted of: Vitalik Buterin, Mihai Alisa, Anthony Di Iorio and Charles Hoskinson. At first, Ethereum operated under the name of Swiss company Ethereum Switzerland GmbH. Later, in June 2014, Ethereum Foundation's non-profit organization was created to support the development of the ETH cryptocurrency platform. Not many members of the cryptocurrency community are aware of the intricate origins of Ethereum. For the creation of the network itself, the project team needed to be financed externally. Instead of accepting the financing of venture capital, Buterin opted for a more difficult and bumpy road - he asked the cryptocurrency community for its support. The collection for Ethereum took place in July and August 2014. This made it possible for future investors and Ether users to buy this cryptocurrency in exchange for Bitcoin. The collected Bitcoins allowed then the project team to cover the company's development costs. 11.9 Ethereum tokens, worth a staggering sum of money - $18.4 million, were sold at that time. Ethereum is designed as a platform of intelligent contracts, which is a reason why other coins were also displayed next to it. The first ICO (Initial Coin Offering) involved, for instance, Augur cryptocurrency. ICO was launched on August 17, 2015 and concluded on September 5, 2015. Ethereum is a large, developmental project that still needs a lot of work and constant improvements. The original development plan assumed four main stages: Frontier, Homestead, Metropolis and Serenity. The Ethereum team is working on the Serenity phase these days, which includes the transition from Proof of Work to Proof of Stake.
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