Ethereum is gradually becoming the second most valuable cryptocurrency after Bitcoin. The momentum it gained in 2017 has created the position it is in now. The price went up to 11000% and reached $8 per Ethereum coin to $900 per Ethereum coin. This sudden development has also significantly increased the number of cryptocurrency investors, traders and Blockchain programmers.
Ethereum enables the development of different cryptocurrencies while solving problems using its own Blockchain protocol. Because of this sole reason, some people have named Ethereum Blockchain 2.0.
Who created Ethereum?
In 2013 a programmer named Vutalik Buterin first proposed Ethereum. And in the next year, i.e. 2014, Ethereum was developed using the crowdfunding method, and on 2015 July 30, it went live. But it doesn’t stop here. There are actually five people who have co-founded this project and made it a reality. These 5 are Vutalik Buterin, Anthony Di Lorio, Charles Hoskinson, Mihai Alise and Amir Chetrit (the initial five). Later on, in the year 2014, Gavin Wood, Joseph Lubin and Jeffrey Wilcke were added as co-founders.
What makes Ethereum popular?
Ethereum is definitely popular among cryptocurrency enthusiasm and experts, but newbies may wonder why Ethereum is so popular among people? Well, let us discuss this matter in detail. Ethereum is based on distributed Blockchain networks. Like Bitcoin, Ethereum is decentralized, and no one has any kind of authority over these tokens. Miners earn Ethereum the same way they earn Bitcoins, i.e. by solving and verifying transactions made by Blockchains. Also, Ethereum is the second most valuable digital coin in the crypto market.
However, the co-founder of Ethereum states that Bitcoin is just a coin, whereas Ethereum is much more than just a coin. It’s a platform in itself that enables you to run the programming codes of an application. Whereas bitcoin uses the Blockchain technology to record a permanent history of the ownership of its user. A peer to peer method of payment, that is what Bitcoin is. Also, programmers and developers use Ethereum Blockchains to create new Blockchains and ether coins.
Advantages of Ethereum
If developers and programmers want to create a new blockchain application, they can directly use the framework and networks that Ethereum provides rather than starting from scratch. Big shots like JP Morgan and Microsoft investing in this digital coin makes its future more plausible.
Ethereum currently has the second most market capitalization, and if it continues to grow at this rate, it may even surpass Bitcoin. With the facilities, it provides to the users of Ethereum and Ether; it can become the next leading cryptocurrency in future.