What is Ethereum

 



What is Ethereum




Introduction

Ethereum is a decentralized open-source blockchain system that uses it's own cryptocurrency called Ether. (Ether is the native currency of the Ethereum Blockchain and it is used to compensate node for performing computation in the Turnung-complete in- structure set of the Ethereum Virtual Machine (EVM).

ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contrat.

Ethereum’s goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship downtime and frauds.

Who Are the Founders of Ethereum

Ethereum has a total of eight  people co-founders They first met on June 7, 2014, in Zug, Switzerland. Russian-Canadian Vitalik Buterin is the well known among the founders.

Vialik Buterin authored the original white paper that first described Ethereum in 2013 and still works on improving the platform to this day.

British programmer Gavin Wood is the second most important co-founder of ETH, as he coded the first technical implementation of Ethereum in the C++ programming language.

Among the other co-founders of Ethereum are

Anthony Di Iorio, who underwrote the project during its early stage of development.

Charles Hoskinson, who played the principal role in establishing the Swiss-based Ethereum Foundation and its legal framework.

Mihai Alisie, who provided assistance in establishing the Ethereum Foundation.

Joseph Lubin, a Canadian entrepreneur, who helped fund Ethereum during its early days, and later founded an incubator for startups based on ETH which is called ConsenSys.

Amir Chetrit, who helped co-found Ethereum but stepped away from it early into the development.

What Makes Ethereum Unique

Ethereum has an unlimited total supply. Average block time of 10-20 seconds. The Proof of Work is consesnsus based on **ethash algorithm.

The large hash rate of Ethereum makes it one of the most secure blockchains in existence.

Ethereum is the dominant platform for issuing smart contracts that enable ICOs and decentralized applications (dAPPS) on a public blockchain via the Ethereum Virtual Machine.

In addition to smart contracts, Ethereum’s blockchain is able to host other cryptocurrencies, called “tokens” through the use of its ERC-20 compatibility standard. More than 280,000 

ERC-20-compliant tokens have been launched.

Milestones

2013- Ethereum white paper was released by Vitelik Buterin

July 2014- Ethereum crowdfunding for its development

30th July, 2015- Public launch (Version 1, code name "Frontier") with 72 million coins pre-mined to support development

October 2015- First Ethereum Improvement Proposal (EIP 1) lays out the rules for governance and community consensus .

14th March 2016- First "stable" release (version 2, codename "Homestead") with updates to security, transaction processing and pricing.

June 2016- The DAO hack.

20th July 2016- ETH/ETC Hard Fork.

16th October 2017 - vERSION 3 (codename "Metropolis: Byzantium") with update to the Virtual Machine and smart contracts.

2017- Etehreum Smart Contracts to enable the funding of many cryptocurrency projects via Initial Coin Offerings (ICOs).

28th February 2019- Version 3.5 (codename "Metropolis: Constancetinopole") implementing zk-SNARKS borrowed from Zcash.

How Is Ethereum Network Secured?
Ethereum is secured via the Ethash proof-of-work algorithm, belonging to the Keccak family of hash functions.

However, there are plans to move the network to a proof-of-stake algorithm tied to the major Ethereum 2.0 which launched in late 2020.



What is Hive

Introduction


Hive is a decentralized network that’s used for information sharing built on the Delegated Proof of Stake Protocol.

Hive is developed in such a way that it can store massive amounts of content  or information and make it available for time-based monetization.

By combining the lightning fast processing times and fee-less transactions, Hive is positioned to become one of the leading blockchain technologies used by people around the world.

Who Is the Founder of Hive

Hive was founded by a diverse group of community members, developers and investors who believed in the common goal of decentralization. There is no set team, name or company behind HIVE. Hive is not based in any specific jurisdiction. 

What Makes Hive Unique

Hive was founded by a diverse group of community members, developers and investors who believed in the common goal of decentralization. There is no set team, name or company behind HIVE. Hive is not based in any specific jurisdiction. 

How Is Hive Network Secured

Proof-of-Work Algorithm. Litecoin uses a different proof-of-work algorithm called Scrypt. Scrypt is a memory-hard algorithm which was initially created to be ASIC-resistant.

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