- Historical Data
- Bitcoin ETFs or not, don’t expect a ‘sexy’ crypto bull run: Concordium founderCointelegraph.com News – 12 hours agoExperts remain divided on when the next bull market is set to kick off, but they all agree on one thing: the next big rally…
- Nic Carter doubles down on theory Bitcoin was invented by NSACointelegraph.com News – 12 hours agoThe decades old ‘NSA created Bitcoin’ theory has again made the rounds on social media, with one Bitcoin advocate adding more weight to his ongoing…
- China suffers worst capital flight in years, but could it pump Bitcoin?Cointelegraph.com News – 13 hours agoChina’s capital outflows reached $49 billion in August, its highest in nearly eight years. Analysts are debating whether it could be a boon for Bitcoin…
- ‘End of an era’ — Consensys sunsets Truffle, Ganache amid shift to MetaMask SnapsCointelegraph.com News – 16 hours ago“No sugar coating this, it’s been a challenging few months,” said Truffle in a social media post on Sept. 22. Ethereum developers are gathering to…
- Binance and CEO Changpeng Zhao ask court to dismiss SEC suitCointelegraph.com News – 16 hours agoBinance Holdings, it’s U.S. counterpart and CEO Changpeng Zhao have filed motions seeking the dismissal of a lawsuit against them by the SEC. Binance CEO…
What is Ethereum?
Ethereum is a decentralized operating system. The platform introduced, in practice, the concept of “decentralized applications”. Its founder, Vitalik Buterin, has been engaged in the development of blockchain and Bitcoin since its inception.
Today, several cryptocurrencies are issued in ICOs using Ethereum. These tokens are called ERC-20, and they are the foundation for running scripts in the Ethereum Virtual Machine. Through the development of “smart contracts”, Ethereum made it possible to sign tokens that have a specific function besides being a medium of exchange and broadened the capabilities of blockchain “transactions”.
Its key cryptocurrency is the Ether, which is usually used for payments in smart contracts or dApps. In addition, Ethereum is also fueled with GAS, a cryptocurrency associated with operations that require some kind of computation from its nodes. The GAS price is proportional to the type of the computational power required execute a task. Therefore, a fee in GAS is included to pay for the nodes running or authenticating a transaction.
Originally, Ethereum used proof-of-work to reach consensus. The Casper protocol, however, gradually shifted Ethereum consensus from PoW to a custom proof-of-stake protocol.