ELI5 Ethereum

ELI5 Ethereum
on October 14, 2017

Whitepaper from 2013 published by Vitalik Buterin

Released in 2015

Mineable via Proof of Work

Mining or Minting algorithm: Keccak (SHA-3)

Maximum / Circulating Coins: Uncapped / Current supply 97,017,191.75 (Dec 13, 2017).

History

Ethereum was released in 2015 as a second generation cryptocurrency. It added a powerful smart contract language with binary code stored in the blockchain along with transactions. This language, Solidity, allows for the development of smart contracts, which are self-enforcing and decentralized computer programs which implement business rules and live on the blockchain. Ethereum has gained much popularity and rose to become the #2 cryptocurrency (as of early 2018) in market capitalization.

What Makes It Different?

Ethereum introduced the Solidity smart contract language which is considered a major improvement over Bitcoin’s limited script language.

Who is Behind Ethereum ?

Enterprise Ethereum Alliance is the main institution behind Ethereum. In the past the project was funded and administered by Ethereum Switzerland Gmbh.

Contacts

See Also

Cardano ADA – A third generation cryptocurrency founded by one of the original Ethereum implementers.