Type | Decentralized blockchain |
Release Date | 30 July 2015 |
Founder | Vitalik Buterin |
Website | ethereum.org[1] |
What is Ethereum?
- Ethereum is a network of computers all over the world that follow a set of rules called the Ethereum protocol[1].
- The Ethereum network acts as the foundation for communities, applications, organizations and digital assets that anyone can build and use[1].
Blockchain
The concept of blockchain is crucial in understanding Ethereum.
What can Ethereum do[1]?
- Banking: Everyone is allowed to access Ethereum, and the lending, borrowing and savings products built on it is an internet connection.
- An open internet: Users can control their own assets and identity, instead of them being controlled by a few mega-corporations.
- A peer-to-peer (p2p) network: Ethereum allows users to coordinate, make agreements or transfer digital assets directly with each other.
- Censorship-resistant: No government or company has control over Ethereum.
- Commerce guarantees: Users have a secure, built-in guarantee that funds will only change hands if they provide what was agreed.
- Composable products: All applications are built on the same blockchain with a shared global state, meaning they can build off each other. This allows for better products and experiences and assurances that no-one can remove any tools apps rely upon.
NFT
Ethereum vs. Bitcoin
Source: Coinbase (July 2023)
|
Ethereum[2]
|
Bitcoin[3]
|
Type
|
Decentralized blockchain
|
Digital currency
|
Market cap
|
$222.4B
|
$568.1B
|
Popularity
|
#2
|
#1
|
All time high
|
$68,789.63
|
$68,789.63
|
Circulating supply
|
120.2M ETH
|
19.4M BTC
|
Valuation
Risks