Ether – The Young Bitcoin
Ether, part of the Ethereum project, is probably the second most popular cryptocurrency, right after the undisputed king that is Bitcoin. But how did it come to life?
Alternatives to Bitcoin
After a few years of existing, Bitcoin (BTC) was starting to get more and more popular. But the moment when new cryptocurrencies started to appear was inevitable. Litecoin and Namecoin were created, and then the wave of cryptos flooded the online world. Ether was a revolutionary idea that soon became the second most popular crypto in the world.
Ether (ETH) was initiated by the Russian programmer, Vitalik Buterin at the end of 2013. It was inspired by the blockchain technology used in Bitcoin, but the new creation was supposed to be a lighter, quicker and more innovative, younger brother. The network was designed by a Swiss company – Ethereum Switzerland GmBH. Funds for the start of the project were collected through crowdfunding. The blockchain was launched on July 30, 2015.
Ether is also a part of the whole Ethereum system. It is a platform based on blockchain technology and smart contracts (protocols including terms of an agreement in the lines of code). It uses a decentralized peer-to-peer network. This network is composed of user-created and it’s officially called EVM (Ethereum Virtual Machine). Ether powers it.
Currently, after the hard fork of the network, conducted in 2016 we have two currencies: Ether, popularly called Ethereum (ETH) and Ethereum Classic (ETC). The fork was a big moment for this cryptocurrency and it lead to creating two separate coins. But as we all know, one is doing much better than the other. Ether is listed on the 2nd place on Coinmarketcap, while Ethereum Classic is way down at 18th.
- Ether was created in 2013 but it was launched 2 years later, in 2015
- Ether powers the Ethereum platform
- The official ticker symbol for Ether is: ETH
- Algorithm: Ethash
- Market capitalization: 15,269,617,146 USD
- Maximum token supply: None
- Circulating supply: 104,950,022 ETH
- First block: 30 July 2015
- Number of blocks: 3823578
- Block time: 15 s
- Block reward: 5 ETH
- Daily trading volume: 4,357,777,236 USD
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Image from https://coinmarketcap.com
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