Ethereum vs. Bitcoin
In 2008 the Bitcoin whitepaper was published by an unknown developer (or group of developers) under the pseudonym Satoshi Nakamoto. This permanently changed the landscape of digital money. A few years later, Vitalik Buterin, a young programmer, envisaged a means of bringing this concept forward and extending it to some form of application. Eventually the term fleshed out as Ethereum.https://ethereumnexus.org/what-is-defi/
Buterin introduced Ethereum in a 2013 blog post named Ethereum: The Ultimate Smart Contract and Open Network for Use. In his article, he presented an idea for a Turing-complete blockchain – a decentralized machine that, provided enough time and money, could operate any program.
Over time, the kinds of apps that could be implemented on a blockchain can only be constrained by the imaginations of the developers. Ethereum aims to find out if the blockchain technology has valid uses beyond Bitcoin's intentional design limitations.
Why did ether get distributed?
Ethereum started off with an initial supply of 72 million ether in 2015. More than 50 million of these tokens were distributed in an Initial Coin Offering (ICO) public token sale, where those who wished to participate could buy ether tokens in exchange for bitcoins or fiat currency.
For what use is Ethereum?
People can use the native currency of Ethereum, ETH, as their digital money or collateral. Some see it as a value shop, close to Bitcoin, too. However, unlike Bitcoin, the Ethereum blockchain is more programmable so much more can be done with ETH. It can be used for decentralized financial applications, decentralized markets, exchanges, games and much more as the lifeblood.
Future Of Ethereum
Ethereum had cast a massive shadow in the sunlight throughout its short period. The platform has already attracted massive corporations such as JP Morgan Chase, AMD, and Microsoft, which are among the most notable members of the Enterprise Ethereum Alliance, providing "Resources for businesses to learn about Ethereum and leverage this ground-breaking technology to address specific cases of industry use."
That bodes well for the use of Ethereum in the business world, though the platform is seen by true believers as something more than a tool for companies. We see this as a means of decentralizing the internet — and getting things more egalitarian.
Ethereum founder Vitalik Buterin, in an interview with Wired, described his vision on how Ethereum could challenge the world's existing power structures:
"I believe a big part of the effect would inevitably in a manner disempower any of these clustered positions. Since control is essentially a zero sum game. And if you're thinking about motivating the little guy, you 're obviously disempowering the big guy as much as you want to couch it in flowery terms which makes it sound fuzzy and nice. And I suggest screw the big guy directly. They already have enough money.
Smart contracts could free people from legal system and big business constraints. Technology proponents still still expect these futuristic futures. Much like social networking has helped propagate false news, it could have unforeseen implications for Ethereum and the distributed, open Web it seeks, as the DAO hacking suggests. Mining Ethereum with consumer graphics cards was also a major reason why, over the past year, there has been such price gouging in that and associated industries.
Unlike other cryptocurrencies, Ether, as we have shown in recent months, is subject to extreme swings in value too. If Ethereum is robust enough for long-term sustainability, or is an ephemeral phenomenon, remains in the breeze.
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