What is Ethereum (ETH)?
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.
- Historical Data
- Ethereum 2.0 Devs Discuss Medalla Issues as Network StabilizesCointelegraph.com News - 7 hours agoAfter the somewhat imperfect launch of the Medalla Eth 2.0 testnet, developers discuss what initially went wrong. Following the successful but imperfect launch of the…
- Alleged Twitter Hacker's Digital Hearing Overtaken By Pornography and Rap MusicCointelegraph.com News - 8 hours agoSomeone hacked the digital court hearing of the alleged 17-year-old Twitter breacher. The teen behind July’s massive Twitter breach had a digital courtroom hearing on…
- Much of Russia’s Blockchain Voter Data Is Now for Sale on the Dark WebCointelegraph.com News - 9 hours agoMany Russian citizens now face exploitation on the dark web after their Blockchain voting data was accidentally leaked in early July. Passport data from 1.14…
- Funding Rate of Digital Assets: How to Avoid Being MisledCointelegraph.com News - 9 hours agoThe funding rate is an essential mechanism to allow derivative instruments to track the spot price of their underlying asset. Since the “digital Sleeping Beauty,”…
- Polkadot Launches Testnet for Sharding Cross-CommunicationCointelegraph.com News - 9 hours agoPolkadot is releasing a testnet specifically designed for its sharding implementation. The Polkadot (DOT) project launched a testnet to evaluate its planned sharding implementation based…