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Looking to invest in crypto- Ethereum especially and you wish to know more information about the popular cryptocurrency? You’ve come to the right place. In this article I will be giving you five (5) Interesting Ethereum Facts You Should Know.
What Is Ethereum?
Ethereum is a decentralized, blockchain-based, public software platform that facilitates peer-to-peer contracts, known as Smart Contracts, as well as Decentralized Applications, known as DApps. It was conceived by programmer Vitalik Buterin in 2013.
Ethereum powers the cryptocurrency Ether (ETH)
Ethereum is the most well-known Altcoin and is the second-largest cryptocurrency, after Bitcoin.
Read Also: WHY IS ETHEREUM ADOPTING PROOF-OF-STAKE?
5 Interesting Ethereum Facts You Should Know
1. Ethereum is the most well-known Altcoin and is the second-largest cryptocurrency, after Bitcoin:
As a beginner, when you hear the word “cryptocurrency”, two words probably cross your mind; Bitcoin and Ethereum. That’s because those are the two most popular cryptos- Bitcoin being the first and most popular. Ethereum comes to a close second after Bitcoin and is the most popular altcoin.
2. Ethereum powers the cryptocurrency Ether (ETH):
It would shock you to know that Ethereum is not the actual crypto token, Ether is. Ethereum actually powers the cryptocurrency Ether, which is also known as ETH.
Ether is the crypto unit.
3. Ethereum was crowdfunded:
Yes, Ethereum was a crowdfunded project. The co-founder, Vitalik Buterin was only just a teenager when he came up with the idea to create Ethereum in 2013. Unfortunately, he did not have enough resources to put his ideas into action so he resorted to crowdfunding which of course, was a success.
He then launched Ethereum in 2015.
4. Ethereum platform is open-source:
The Ethereum platform allows users to build off it using the network’s programming language; Solidarity.
Using this language, developers can create their own cryptocurrency and Dapps without downtime, fraud, regulation, or interference from third parties.
5. Ethereum does not have a cap limit:
Unlike Bitcoin where there are only 21 million Bitcoins available to be mined, ETH does not have a cap.
The only limit ETH has is that only 18 million Ether can be mined per year.
The sole purpose of the creation of Ethereum was to democratize everything from organizations, and institutions to governments. Ethereum is not like any other Altcoin and has lots of interesting and unique facts.
Whether you wish to invest in ETH or sell on crypto trading apps for profit, there are various ways to make money from ETH and various reasons why you should gain interest in it.