What is Ethereum?
Ethereum is an open source, public, blockchain based technology featuring smart contract functionality. Ether (ETH) is a crypto currency whose blockchain is on the Ethereum Network that can be transferred between accounts and compensates miners for computations performed on the blockchain. In 2013, Vitalik Buterin proposed the Ethereum concept published in Bitcoin Magazine, one of the original publications for crypto currency that he co-founded in 2012. His goal was to create a platform for decentralized applications that required a different scripting language and platform than the Bitcoin protocol offered. Formal development began in 2014, after the initial sale of the Ethereum value token (token) for bitcoin started, this was one of the first successful ICO’s for crypto currency.
Ether vs. Bitcoin
Bitcoin is a digital currency used as a store of value in a decentralized system, with the long term goal being easier and cheaper payment method than fiat money currently is. Ether isn’t considered to be competing against Bitcoin because it is the digital currency running the Ethereum Project. The project focuses on running applications on the blockchain and smart contracts, as shown by the Ethereum Virtual Machine (EVM) which is the runtime environment for smart contracts on the network. This allows ERC-20 Tokens to be created by any one using the Ethereum Network. Many ICO’s use ERC-20 tokens as their value offer to potential investors in their projects.
Confusing things a little more, the non-profit Enterprise Ethereum Alliance (EEA) was created in 2017, bringing together many Fortune 500 companies, blockchain startups and research groups. The foundation is for businesses to learn and brainstorm the capabilities Ethereum Network (and other blockchain applications) have for different industries. Members include ING, Microsoft, J.P. Morgan, Intel, CME Group, Deloitte, MasterCard, Cisco Systems, Scotiabank and the National Bank of Canada.
Investing in Ether
Buying Ether should be considered a speculative “investment” in the overall Ethereum Project. The value being based on the smart contracts being used by industry, ICO’s and crypto currency “projects.” Along with the decentralized apps running on the Ethereum blockchain and businesses investing time and money to integrate this technology into their business. Since Wall Street traders are the first to admit that nobody can predict or understand stock market, anyone claiming to understand how ANY crypto is currently valued is a complete liar speculating on a new technology.
Current Ether Price
Best Ethereum Exchanges
Gambling Sites Accepting Ether
Ether Gambling Sites to Avoid
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