On this episode of our Coin Clips mini series, we’ll be covering the must know facts about Ethereum (ETH), the crypto taking the number two spot in the global crypto rankings (our first episode discussed Bitcoin).
Second only to Bitcoin, Ethereum was an early comer cryptocurrency that helped form the state of the space. Conceived on 2013 by Vitalik Buterin, the currency introduced a proprietary hashing algorithm known as “Ethash.”
While being one of the first certainly helped them establish the project in the space, their "smart contract" ecosystem is one of the key features that drive more and more users to the Ethereum network.
These smart contracts allow advanced capabilities for the execution of data transmission. While Ethereum is not the only cryptocurrency with a smart contract system, it is currently the most widely utilized. Along with the smart contracts come "ERC20" tokens; essentially, a powerful baseline that can be used to build an entire cryptocurrency platform and launch it via the Ethereum network, instantly providing new projects with a network strength that would require massive expenditure to build from the ground up.
While Ethereum is currently experiencing scaling issues, they are actively developing solutions to the exploding network traffic If they handle this gracefully, there is little doubt they are here to stay as one of the big boys of crypto.
Let me know what you think of our Ethereum Coin Clip and what other projects you would like us to discuss going forward.
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Cool little clip, you guys planning on doing anything more in depth? I know I've heard some stuff about ethereum going to proof of stake but I'm still a bit lost on what that really means for the project.
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We may not do an in depth one on ethereum itself, but we do intend on having a bunch more info on proof of stake pretty soon, we've actually got some big things up our sleeve with a staking coin.
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Very nice, you just going to talk about the tech or will you toss in some how to's as well? I'd love to set up some coins for staking, the whole idea of APR on my portfolio is too cool to pass up.
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We'll probably hit some tutorials as well, for people looking to go long term its such a great concept.
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Is ethereum hitting $1000 this month?
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I'm not one to make calls but realistically I dont think thats in the cards for may. Vitalik stepping way from consensus is proving to be a bit of wall for the eth market at the moment.
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Very Informative Post. Ethereum is one crypto that should be in everyone's portfolio.
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