What is Ethereum ETH? How does it work?

Ethereum ETH is the second largest cryptocurrency platform by market capitalization, behind Bitcoin. It is a decentralized open source blockchain featuring smart contract functionality. Ether is the cryptocurrency generated by Ethereum miners as a reward for computations performed to secure the blockchain. Ethereum serves as the platform for over 260,000 different cryptocurrencies, including 3 of the top 10 cryptocurrencies by market capitalization: Tether, Binance Coin and Ethereum ETH itself.

How does Ethereum ETH work? Where did it originate?

Ethereum ETH provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. The virtual machine’s instruction set, in contrast to others like Bitcoin Script, is Turing-complete. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.

Ethereum ETH was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014. The system then went live on 30 July 2015, with 72 million coins minted. This accounts for about 65 percent of the total circulating supply in April 2020.

What is the future for Ethereum ETH?

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In 2016, as a result of an exploitation of a flaw in The DAO project’s smart contract software, and subsequent theft of $50 million worth of ether, Ethereum was split into two separate blockchains. The new separate version became Ethereum (ETH) with the theft reversed, and the original chain continued as Ethereum Classic (ETC)

Ethereum is currently developing and planning to implement a series of upgrades called Ethereum 2.0. Current specifications for Ethereum 2.0 include a transition to proof of stake and an increase in transaction throughput using sharding technology.

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“In Cryptography we trust.” Satoshi Nakamoto

Crypto currency is now in it’s first decade and to many they feel as if the crypto boom is over, however nothing could be further from the truth. However most people have difficulty figuring out how to Buy and Sell Bitcoin Online. In market trading the old adage of “Cut your losses and let your profits run” still applies more than ever today. Every expert agrees that now is just the beginning of a new era where computing power will take over electricity as a necessary and fundamental resource without which, we as a human race, will not be able to survive.

Everyone wants to invest and Buy and Sell Bitcoin Online but at this point in time, when crypto is still in it’s infancy, it is still difficult to enter the currency markets. Buying and selling Crypto currencies is not as easy as it seems. Exchanges can be difficult and time consuming. Bitcoin ATM’s are far and wide and the whole process can be maddening. For example: How can you store your digital assets safely to prevent them from loss or theft?

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Firm Partners

Jillian Scotia

Jillian Scotia, Esq. is the managing partner of BYTCIO Cryptography, established in 1983. Jillian has been accredited by the multiple blockchain boards. As a leading specialist in the firm, Jillian uses her experience and personal relationships to get results for all BYTCIO’s clients. She is a talented and hard working coin concierge who never stops trying to bring another win for her clients.

Andrew moore

Andrew holds a Certified Blockchain Cryptography degree, and has over 18 years of experience as a Blockchain consultant in New York State. Andrew has personally handled quite a few high-profile ICO’s, both as a concierge as well as a client. He has represented over 100 Crypto Currencies and consulted with thousands of clients arranging their Bitcoin and Crypto Currency needs.

 

Robert Jordan

Robert might look like a sweet old man, but when he puts on the famous thinking cap, he becomes a cunning lion. You really want a guy like Robert on your team. Finding flaws in code and loose ends is what has made Robert famous in the New York district and beyond as one of the shrewdest, most highly skilled hackers in the business. Don’t miss his price predictions he is never wrong.

Bitcoin Exchange CEX.IO
Bitcoin Exchange CEX.IO
Bitcoin Exchange CEX.IO