What is Etherium (ETH)?

What is Etherium (ETH)?

The cryptocurrency Etherium (Ether) is a coin that was created as a payment medium within a platform for creating decentralized applications based on smart contracts (smart contracts). The Ethereum platform was created in 2014 to popularize blockchain technology. This goal is achieved through the Ethereum base, on the basis of which, anyone can create their own currency or project. The crypto community calls this cryptocurrency Ethereum, ETH, Etherium and Ether, so if you come across one of these names, you know what is meant.

The creator of the Ethereum

The creator of the cryptocurrency Ethereum, is one of the creators of the resource Bitcoin Magazine, the winner of the World Technology Award, bypassing Mark Zuckerberg, the Russian-Canadian programmer Vitalik Buterin. Vitaly, though he doesn’t like to be called that, studied programming at the University of Waterloo, Canada, but dropped out because he wanted to do blockchain projects. Since 2011, he is interested in everything about Bitcoin, and on that wave, he co-founded Bitcoin Mag, which after a while became the first printed publication about cryptocurrencies. In general, Vitalik Buterin is a very talented person, in spite of his 23 years.

Cryptocurrency Features

Etherium Among the huge number of cryptocurrencies, it is very difficult to stand out, but Etherium ire manages it the best. This is all because Ethereum uses innovative features that enable transactions between parties, thanks to smart contracts. What is there to say, in 2017, based on the Ethereum blockchain, an apartment in the city of Kiev was sold using smart contracts. Can you imagine? Other features of the ETH cryptocurrency include its flexibility, which allows the Ether blockchain to interact with many applications. And the speed of transactions. It takes only 30 seconds to process any transaction on the Ethereum network.

Where to buy Ethereum cryptocurrency?

At the moment, ETH coins can be bought on all cryptocurrency exchanges without exception. Let’s say more, some forex brokers have added this crypto to their platform, where you can trade cfd on ETH. You can buy ETH on exchanges like Binance, Upbit.

Etherium wallet

After buying Ethereum cryptocurrency on one of the exchanges, you can transfer it to many cryptocurrency wallets. In this article, you can read about multicurrency wallets that support Ethereum. But, the purse myetherwallet is considered native to Etherium, which in addition to ETH itself allows you to store all tokens created on the ERC20 protocol.

Mining Etherium

One of the most popular ways to get cryptocurrency is through mining. Since the cryptocurrency’s blockchain is based on Proof of Work technology, it can be mined using computing power such as ASIC Miner or farms consisting of video cards. The amount of Ethereum coins mined depends on the power of your equipment. The more hashes it produces, the more cryptocurrency you get.