Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract functionality.
This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and much more, all without a middleman.
More facts about Ethereum:
Established Date: July 2015
Circulating Supply: 96,333,093
Total supply: Uncapped at present
Market cap: $69 Billion USD
Notable team members: – Vitalik Buterin, Founder
The Price
At the beginning of 2017, Ethereum started at $8.16 US dollars.
Today it’s around the $715 USD mark
That’s roughly an 8650 % increase in the year!
Why the hype?
Ethereum was the first blockchain platform to offer decentralised smart contracts which are resistant to censorship, fraud or third-party interference.
You could say that Ethereum was the grandfather of Initial Coin Offerings, ICOs.
2017 was a huge year for launching new blockchain projects and it seemed as though the majority were on the Ethereum network. For investors to get involved in an ICO, they were first asked to send Ethereum to the wallets of the startup. And as you can imagine, with promises of ridiculous returns, potential investors would(and still) purchase Ether to get involved.
So should you buy some Ether to get involved with new projects? With anything, I urge you to do your own research first before jumping in.