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In addition, Ethereum’s blockchain hosts many different alt coins on its platform through an upgrade feature called the Ethereum Request for Comment 20 (ERC-20). Unlike Bitcoin, Ether is not finite in supply. There are over 115 million ETH in circulation as of date of writing. As of date, the price of 1 ETH is $1,747.59.
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This could either be a pro or a con for any Ethereum user depending on the context.Įther (ETH) is the second-largest cryptocurrency in the world with a market cap of over $200 billion. However, these codes are strict and, therefore, difficult to re-write or overwrite them. There are a set of written codes in the programs that run automatically (without the need for human assistance). In other words, even the users who create the programs on Ethereum do not have any control over their operations. Although Ethereum is open-source, the programs run on the platform are decentralized. Decentralized apps (Dapps) and smart contracts are written using Solidity. Ether (ETH) is Ethereum’s digital currency.Įthereum has a programmable platform in the sense that it allows its users to write its programs using the platform’s programming language known as Solidity on a “If-This-Then-That” (IFFT) logic. It aims to decentralize all forms of digital activities and services that are controlled by a third-party. However, Ethereum goes beyond revolutionizing the financial system but also other forms of digital assets and protocols. Ethereum is built upon the success of Bitcoin. On July 30, 2015, a former co-founder of a Bitcoin magazine, Vitalik Buterin, pioneered another decentralized system called Ethereum.
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