The second largest network of Ethereum blockchains has really changed the crypt-verse from its debut. The newcomer [compared to Bitcoin] has taken a heavy step on the growth pedal and many expect it will also overtake the Bitcoin – the market leader.
Ethereum – Ether
The network is an open source blockchain technology platform that supports smart contracts while being able to move its Ether currency quickly and very securely. Ethereum is designed and built with a two-layer infrastructure . The main concerns private accounts controlled by individuals and the second of contractual accounts. With his birth, he brought a new generation of cryptocurrencies into the ecosystem since many platforms have since been introduced with various solutions or applications. Similar is the same Ethereum as it allows developers to create dApp on its network.
Ethereum was first launched with an Initial Coin Offering (ICO) that was held from July to August 2014. At this point, however, the Ethereum blockchain network was more of a theory than it was a working product. It was only a year later, on July 30, 2015, when the first genesis block was coined and the rapid growth of Ethereum began.
He is the first to put the real competition for well-cemented bitcoins because it differs strongly on different points. One of these is much faster and more efficient transactions.
Vitalik Buterin, explained his reasoning behind the creation of Ethereum, saying:
"I thought that [those in the Bitcoin community] were not approaching the problem in the right way … I thought they were going after the individual applications, they were trying to explicitly support each [use case] in a sort of protocol for a Swiss army knife. "
What makes the network very promising is first and foremost his team. For a long time they are directly addressing publicly existing issues and are trying their best to find solutions for specific problems. Similarly, during an event in Zug they talked about topics such as future improvements and downsizing.
The co-founder Mr. Buterin, has highlighted very clearly giving positivity to the ecosystem saying that the public demand for blockchain solutions is very high that causes the team to achieve true stability for its network created.
The team comments continued with the much-talked about Casper update. The improvement will be launched during 2019 to create Ethereum network 2.0 with a follow-up of 3.0 over the next few years.
In this way, the platform would get safe quantum systems that can keep up with the processing power of quantum computers.