What is Ethereum?

Posted by mildas moser on December 26th, 2019

If you need to understand what exactly is Ethereum, how it works, and what it might be used for, with no going deep into the technical abyss, this guide is best for you. Get more data about eth qr code

Ethereum is really a global, decentralized platform for money and new kinds of applications. On Ethereum, you may create code that controls money, and build applications accessible anywhere within the world.

What's Ethereum?
Beyond Bitcoin and 1st generation decentralized applications

While commonly linked with Bitcoin, blockchain technologies has quite a few other applications that go way beyond digital currencies. The truth is, Bitcoin is only one of various hundred applications that use blockchain technology now.

Until fairly not too long ago, developing blockchain applications has necessary a complex background in coding, cryptography, mathematics as well as important sources. But instances have changed. Previously unimagined applications, from electronic voting and digitally recorded property assets to regulatory compliance and trading are now actively becoming created and deployed faster than ever prior to. By delivering developers using the tools to construct decentralized applications, Ethereum is generating all of this doable.

Key Highlights

November 2013: Vitalik Buterin publishes the Ethereum whitepaper.

January 2014: The development in the Ethereum platform was publicly announced. The original Ethereum development team consisted of Vitalik Buterin, Mihai Alisie, Anthony Di Iorio, and Charles Hoskinson.

August 2014: Ethereum ends their ICO and raises .4 million.

Could 2015: “Olympic” the Ethereum testnet releases.

July 30, 2015: The very first stage of Ethereum’s development, “Frontier” was released.

March 14, 2016: Homestead, the very first “stable” Ethereum release, went out on block 1,150,000.

June 2016: The DAO hack occurs along with the million worth of Ether, which was 15% with the total Ether in circulation back in the time.

October 25, 2016: Ethereum Classic forks away from the original Ethereum protocol.

October 16, 2017: The Metropolis Byzantium hardfork update happens.

February 28, 2019: The Metropolis Constantinople hardfork update takes place.

At its simplest, Ethereum is definitely an open software platform primarily based on blockchain technologies that enables developers to build and deploy decentralized applications.