CRYPTO PROJECTS: DUE DILIGENCE, RATING, BLACKJACK
30th of September 2018
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30th of September 2018
What is Ethereum?

Ethereum is a decentralized, open source platform for building decentralized applications (Dapps) based on smart contracts.

The creator of Ethereum is the co-founder of Bitcoin Magazine — Vitalik Buterin, who described the idea of ​​this blockchain in one of his publications in 2013. In April 2014 Ethereum was formally described by Gavin Wood in the so-called “yellow book”.

In 2014 Vitalik won a start-up technology competition and received $100’000 as a reward, which he invested in the development of Ethereum.

Ethereum network was launched on July 30, 2015. In June 2016 an error was detected in the program code of The DAO (one of the projects based on Ethereum), which had led to fork and the emergence of Ethereum Classic (for more details, see Trust Index section).

After successful ICO, many large companies, such as Microsoft, IBM, Acronis, international charitable organization UNICEF, large banks and airlines of different countries became interested in Ethereum.

Ethereum is currently the second most popular blockchain project after Bitcoin.

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Summary

At the moment, Ethereum is firmly fixed in the top of cryptocurrencies and is one of the most used platforms. And its popularity is only growing. Ethereum has many positive reviews. The work to solve security problems, as well as increasing the bandwidth and cost of network operation is in progress. Despite the emergence of strong competitors, it is very likely that Ethereum will retain its leading position next year.

Advantages:

  • Wide availability, distribution of token on all trading platforms. The real business begins to use Bitcoin and Ethereum in the first place for implementation of cryptocurrency in its activities.
  • Possibility of mining.
  • Support of multiple programming languages.
  • Strong reputation of the project and its team.
  • Interest from large corporations: Cisco, MasterCard, Intel and other companies united into Enterprise Ethereum Alliance

 

Disadvantages:

  • The complication of mining and its early rejection. The announcement of transition to the PoS algorithm caused dissatisfaction with many miners who invested money in equipment for Ether mining.
  • The influence of human factor: mistakes in writing smart contracts can lead to losses amounting to tens of millions of dollars (the attack of The DAO and Parity).
  • Low performance and scalability. These shortcomings should soon be eliminated.
  • Growing competition.

References

Official website — https://ethereum.org/

Block explorer — https://etherscan.io/

Forum — https://forum.ethereum.org/

Blog — https://blog.ethereum.org/

GitHub — https://github.com/ethereum

Twitter — https://twitter.com/ethereum

Reddit — https://www.reddit.com/r/ethereum

Facebook — https://www.facebook.com/ethereumproject

YouTube — https://www.youtube.com/user/ethereumproject

Ethereum foundation — https://www.ethereum.org/foundation

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