Ethereum (ETH)

1. Ethereum information

Name of corporation (foundation) Ethereum Foundation
First publication 2015
Block generation cycle About 12 seconds
Total issuance limit No limit
Consensus Protocol PoW (PoS will be converted)
Developer Vitalik Buterin
Main homepage

2. Ethereum overview

  • Ethereum is a distributed computing platform for implementing smart contract functions based on blockchain technology. Ether, provided by Ethereum, is traded in cyberspace as a kind of cryptocurrency, just like Bitcoin.
  • The monetary unit of Ethereum is expressed in ETH.
  • As the most representative altcoin, Ethereum was initially labeled as'Ethereum' or'Ethereum', but it is unified as'Ethereum'.

3. Features of Ethereum

  • Ethereum is the creation of an alternative protocol for creating decentralized applications, and was designed to contribute to the first blockchain-based life platform.
  • Ethereum is a smart contract that can transparently operate various financial applications on the blockchain, and this feature can be extended to finance, sharing economy, SNS, decentralized autonomous organization (DAO), and machine-to-machine financial transactions.
  • It is a feature that allows you to create a contract that can change its state according to rules coded in a blockchain called smart contract.You can pay for it for certain actions according to a set promise.
  • There is no limit to the total issuance limit, but the maximum number of cryptocurrencies that can be issued per year is limited to 18 million. The amount of cryptocurrency issuance can be flexibly adjusted by adjusting the basic algorithm formula and mining age.