On this episode of our Coin Clips mini series, we’ll be covering the must know facts about Ethereum (ETH), the crypto taking the number two spot in the global crypto rankings (our first episode discussed Bitcoin).
Second only to Bitcoin, Ethereum was an early comer cryptocurrency that helped form the state of the space. Conceived on 2013 by Vitalik Buterin, the currency introduced a proprietary hashing algorithm known as “Ethash.”
While being one of the first certainly helped them establish the project in the space, their "smart contract" ecosystem is one of the key features that drive more and more users to the Ethereum network.
These smart contracts allow advanced capabilities for the execution of data transmission. While Ethereum is not the only cryptocurrency with a smart contract system, it is currently the most widely utilized. Along with the smart contracts come "ERC20" tokens; essentially, a powerful baseline that can be used to build an entire cryptocurrency platform and launch it via the Ethereum network, instantly providing new projects with a network strength that would require massive expenditure to build from the ground up.
While Ethereum is currently experiencing scaling issues, they are actively developing solutions to the exploding network traffic If they handle this gracefully, there is little doubt they are here to stay as one of the big boys of crypto.
Let me know what you think of our Ethereum Coin Clip and what other projects you would like us to discuss going forward.
Leave me your comment below!
Like pretty visuals and other crazy sh*t?
Follow me on Instagram!
▶️ DTube
▶️ IPFS