How did Ethereum come about?
Ethereum (ETH) was created in late 2013 by Russian programmer Vitalik Buterin, one of the founders of Bitcoin Magazine (Bitcoin Magazine). The ICO (Initial Coin Offering) has reached approximately $12 million, which has been well received by industry insiders.
Cryptocurrency A whitepaper was released that explains all the principles of Ethereum and the official blockchain was launched on July 30, 2015, but the real Ethereum trend was fueled by funding again this year. 2017, where the “Smart Contract” is written, a contract for fundraising comes up. The principle of operation is that when a certain amount of money is transferred, the investor will receive the coin back. And that gave people a glimpse into how Ethereum could actually work, which has raised more than 20 billion dollars in fundraising rounds.
Highlights of Ethereum That Changed the Blockchain Industry
Ethereum is built as an open operating system. (Open-source) that developers can use existing Coke to write programs on the blockchain by using Smart Contracts (smart contracts) that can be developed and applied in other fields. More and more developers from around the world have begun to build decentralized applications (DApps) based on the Ethereum Blockchain, most of which are financial platforms. Also known as DeFi (Decentralized Finance), a financial system without intermediaries. For example, Uniswap, Sushiswap, Makerdao, and Compound, among others, have led to Ethereum being dubbed the “Internet of value.”
Everything on Ethereum is based on a global network of computers running on the Blockchain, or “Node,” to verify. And check various transactions through the Proof of Work system instead of using a central server or relying on one company to be an auditor. And every time the system is processed, all the data that occurs on the blockchain is recorded. The node network that performs the transaction confirmation receives a fee called “Gas Fee” in return.
Application to the business sector
Currently, there are big companies in many industries. Including many Start-up companies have been using Ethereum for the benefit of companies. The predominant group of organizations that have come together to develop applications on Ethereum is the Enterprise Ethereum Alliance (EEA), an association formed by many large companies that want to deploy Blockchain technology in the global marketplace. As well as financial giants such as Mastercard have also joined the EEA as a member.
The current market capitalization of ETH is $204,568,490,551, or about 7.2 trillion baht, ranked second on the website Coingecko after Bitcoin, and has a circulating supply of 120,027,173 ETH.
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