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It's only been a year since the cryptocurrency market exploded, reaching an unimaginable climax with the Bitcoin mania within it, but the current state of things is a bit different. Rising prices have stabilized while enthusiastic media, critics and holders once despise the market and exacerbate the inherent problems – that is, low volume and a lot of liquidity; but well-financed organizations are still taking giant steps in bringing real changes and improvements in the use of cryptographic technologies. In the market stream, the Ethereum Foundation continues its mission to support research surrounding the Ethereum platform: a decentralized and open software platform that uses blockchain technology to enable developers to create and deploy decentralized applications, or dApps. Built to use blockchain – the technology that powered Bitcoin's digital currency – Ethereum intended to democratize organizations, companies and currencies, putting decision-making, creative and economic control in the hands of individuals rather than the central servers of the world, banks, companies and powers. Ethereum built what started Bitcoin on blockchain technology. In this new type of application software, Ethereum's dApps alter the way we process information, develop technology, store data and exchange value. Decentralized applications allow users to perform transactions in relatively cheaper and faster ways without the need for third parties, while democratically relying on previous technologies and growing features. Through the Ethereum platform, developers are creating a more global, more free and more reliable Internet that launches dApps that will work exactly as planned without the possibility of downtime, censorship, fraud or interference from third parties.
The discovery of the Bitcoin decentralized digital currency in 2011 at the age of 17, co-founder and co-founder of the Ethereum Foundation Vitalik Buterin, was entranced by blockchain and cryptocurrency technologies and their potential. He co-founded Bitcoin Magazine in September 2011 – the first serious magazine dedicated to cryptocurrency; and has held a position in the editorial board of ledger – a peer-reviewed academic journal that has published research articles on cryptographic technology and blockchain. After two years of looking at existing blockchain technology and application creations, in November 2013 Buterin proposed the basis for Ethereum in a white paper that illustrated in detail its goal of creating truly decentralized applications. The platform development was financed by an online crowdsale the following year, raising 18 million dollars, and the system became operational in July 2015 with 72 million "prize" coins – the fundamental operating currency called "Ether" that feeds the network. This base still accounts for around 70 percent of the total current offering as of 2018.
While all blockchains can process the code, most are strictly limited. In contrast, the Ethereum platform allows developers to create whatever operation they want, opening the scope of possibilities to applications that are beyond imagination as there are no limits. Another unique distinguishing feature of Ethereum is the capabilities of its "smart contracts": intuitive and self-fulfilled bonds. Smart contracts manage every aspect of an agreement: from application to management, performance and payment.
Faced with a completely new, ever-changing and largely undefined industry, the Ethereum Foundation understands that cryptographic technology has endless possibilities, but to bring enthusiasm into the market for general users, efforts must be directed on solid projects with useful, real -Disable globally that count for ordinary people in everyday life. Vitalik Buterin is of this mentality that positive change in the cryptographic market can only come from projects based on solutions with real cases. Ethereum was built to foster the use of a "general public", with daily applications for the benefit of mass society and without the old rule that blockchain applications require complex areas of coding, cryptography, mathematics or vast resources. . Previously unimagined applications are built with the tools of Ethereum every day, from electronic voting and digital resources to regulatory compliance and commerce, all now actively developed and implemented faster than ever.
While Bitcoin has pioneered blockchain platforms like Ethereum, the latter is changing the way we interact with the world around us through its range of decentralized applications. The bitcoin is at its center only a currency and a store of value. In "Value Internet" (the space in which the blockchain and crypto technology exists), Bitcoin is compared to email, as it was the first major app of its predecessor, the "Internet of Information". In the world of tomorrow – the "Internet of Value" – platforms like Ethereum are bigger dogs, more like the world wide web in this common analogy. Ethereum stands out as the general purpose application development platform that continues to grow – not just in terms of value, but in the number of dApps that change the game that have been and will continue to be built through its technology.
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