Ethereum:
Ether is a cryptocurrency whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed.[4] Ethereum provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.[3][5]
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014.[6] The system went live on 30 July 2015, with 11.9 million coins "premined" for the crowdsale.[7] This accounts for approximately 13 percent of the total circulating supply.
In 2016, as a result of the collapse of The DAO project, Ethereum was split into two separate blockchains – the new separate version became Ethereum (ETH), and the original continued as Ethereum Classic (ETC).[8][9][10] The value of the Ethereum currency grew over 13,000 percent in 2017
In the cryptocurrency world, if Bitcoin is the king, then Ethereum is the queen.
The price of Ethereum (ETH) has risen significantly in past few months, and it’s one of the most promising cryptocurrencies right now. In this article I will help you understand everything about Ethereum & you would learn all important things that you should know as a beginner. Before that,
Here’s a situation:
Consider you have just booked an Uber ride and a driverless car has come to pick you up.
That car takes you to the gasoline station and self-pays for its fuel with the money it earned from the previous ride. Afterward, this car takes you to your destination, and the trip fare is auto-deducted from your Uber wallet.
While driving you to your destination, the car also self-paid its annual insurance fee and its monthly liability fee on behalf of its (human) owner.
After it drops you off, it drives itself to a mechanic for some repairs.
You might be thinking I am telling you a scene from a Sci-Fi movie.
But to your surprise (and mine), I am not!!
Such things are being tested, and the use of cryptocurrencies like Ethererum and technology like the Ethereum blockchain are the reasons that something like this can happen.
Such autonomy is the direct effect of the theories behind cryptocurrencies.