With its own cryptocurrency, Ethereum is a decentralized open-source blockchain system. ETH is a platform for many other cryptocurrencies and decentralized smart contracts.
Vitalik Buterin introduced Ethereum in a 2013 whitepaper. In the summer of 2014, Buterin and his co-founders raised funds for the project through an online crowd sale. The project team raised $18.3 million in Bitcoin, and over 60 million Ether were sold in the ICO. With Ethereum's current price, the annualized return on investment (ROI) is over 270 percent, nearly quadrupling your investment since the summer of 2014.
The Ethereum Foundation launched the blockchain on July 30, 2015, as the “Frontier” prototype. It has since had several network updates: “Constantinople” on February 28, 2019, “Istanbul” on December 8, 2019, “Muir Glacier” on January 2, 2020, “Berlin” on April 14, 2021, and “London” on August 5, 2021.
Ethereum's stated goal is to become a global platform for decentralized applications, allowing users worldwide to write and run software resistant to censorship, downtime, and fraud.
Ethereum has eight co-founders, which is unusual for a crypto project. They met in Zug, Switzerland, on June 7, 2014.
Russian-Canadian The most well-known is Vitalik Buterin. He wrote the first Ethereum white paper in 2013 and continues to improve the platform. Buterin co-founded and wrote for Bitcoin Magazine before ETH.
Gavin Wood, a British programmer, is arguably the second most important co-founder of ETH, having coded the first technical implementation of Ethereum in C++, proposed Ethereum's native programming language Solidity, and served as the Ethereum Foundation's first CTO. Wood worked at Microsoft before Ethereum. Then he founded the Web3 Foundation.
Ethereum invented the blockchain smart contract concept. Smart contracts are computer programs that automatically execute actions required to fulfill an internet agreement. A trusted intermediary between contractors is eliminated, lowering transaction costs while increasing transaction reliability.
Ether created a platform that allowed it to execute smart contracts using the blockchain, furthering the benefits of smart contract technology. According to co-founder Gavin Wood, Ethereum's blockchain can make any program more robust, censorship-resistant, and less prone to fraud by running it on a globally distributed network of public nodes.
The ERC-20 compatibility standard allows Ethereum's blockchain to host other cryptocurrencies, called “tokens,” in addition to smart contracts. To date, over 280,000 ERC-20-compliant tokens have been launched on the ETH platform. USDT, LINK, and BNB are among the top 100 cryptocurrencies by market capitalization. The ETH to PHP price has grown in popularity since the advent of Play2Earn games.
Michael Barr, the head of the central bank's regulatory division, emphasized that the Federal Reserve is currently in the preliminary research stage and would require official legislation from Congress to formalize any action.
The sudden drop in prices last Thursday caught the interest of several significant investors.
Vitalik Buterin initiated a transfer exceeding $1 million worth of ether to the Coinbase crypto exchange on Monday.
They would participate in pre-approved bitcoin futures ETFs.
The crypto markets experienced a significant decline on late Thursday, with Bitcoin (BTC) plummeting to as low as $25,000 on the Binance cryptocurrency exchange.
Customers utilizing Ledger Live, the platform's functionality enabling the purchase of cryptocurrencies using traditional currency, can now seamlessly link their PayPal accounts to the application.
Meme coins and low-cap cryptocurrencies continue to be the preferred choices for traders, while investors in Bitcoin eagerly await a prompt ETF decision.
Last year, the ex-President of the United States introduced an NFT collection.
PLUS: The ongoing tragicomedy surrounding Sam Bankman-Fried took another turn on Friday as his bail was revoked. Even prior to this verdict, David Morris, a CoinDesk columnist, had already outlined why the final outcome was easily foreseeable.
The likelihood of another rate hike is diminishing due to the modest Consumer Price Index (CPI) figures.
Today, the investment division revealed its acquisition of an undisclosed volume of Rocket Pool's native token, RPL, which surged by over 9% in the previous 24 hours.
Prior to its official launch on Wednesday as a novel layer-2 network built on Ethereum, Base had already accumulated an impressive sum of nearly $166 million on the blockchain.
With Bitcoin reclaiming the $30K mark and established giants like PayPal venturing into the cryptocurrency domain, the convergence between conventional financial systems and the crypto sphere grows increasingly conspicuous.
The PayPal USD will be anchored to the value of the U.S. dollar and will be issued by Paxos Trust.
Despite the declining trading volume, all indicators strongly suggest an imminent break-out.
Several analysts are asserting that the largest cryptocurrency, with a market cap surpassing $29,000, will persistently trade within a narrow range.
If granted, the fund will assess 'the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts.'
From Thursday onwards, users will have the opportunity to bridge their ETH as the official launch of the main network is scheduled for August 9th.
Recently, the correlations between cryptocurrency and stock market movements have taken a downturn.
An innovative platform, launched just last week, aims to enhance the adoption of Bitcoin by enticing users through win-to-earn games operating entirely on the Bitcoin blockchain.