COULD ETHEREUM BE the single most valuable technology we see in our lifetimes? One way to think about the most popular cryptographic technologies is that they are swallowing up existing networks. So if Bitcoin is ‘eating’ money, then Ethereum can be said to be ‘eating’ contracts.
Ethereum is a platform where legal agreements or ‘smart contracts’ are executed flawlessly on computer networks without the need for middlemen. This means that Ethereum has the potential to disrupt large industries that rely on intermediaries, such as real estate, law, and areas of financial services. If Ethereum is successful, it could fundamentally change the way governments are run.
An extremely bullish indicator for Ethereum’s long-term success is that a huge number of decentralized applications (Augur, Basic Attention Token, OmiseGo) are being built on top of the Ethereum blockchain. Miners of Ethereum work to earn Ether (ETH), the token that fuels the network and is used to pay for transaction fees and services.
Ethereum began life in 2014 as a crowdfunded project by Swiss nonprofit organization, the Ethereum Foundation. Its founder, Vitalik Buterin, is a Russian-Canadian programmer who was placed in a class for gifted children at school as young as age three. Having co-founded Bitcoin Magazine, Buterin wrote the Ethereum white paper because he wanted to see broader applications for blockchain beyond currency. He’s the type of mind who can attract the best developers in the world.
As Buterin sees things,“Education is ultimately much more than simply memorizing individual facts, or even learning individual concepts. What matters most is learning how to think, learning how to reason and learning how to learn.”
Circulating Supply: 100,765,951 ETH