Ethereum (ETH)

General Data and Information. The Ethereum white paper was released by Vitalik Buterin in late 2013 after proposals to include a scripting language to enable decentralized applications (dApps) on the Bitcoin blockchain failed to gain traction. Ether is the native currency of the Ethereum blockchain and is used to compensate nodes for performing computations in the Turing-complete instruction set of the Ethereum Virtual Machine (EVM). These instructions form the backbone of smart contracts and digital asset ownership which are recorded and issued upon the Ethereum blockchain. The development and governance of Ethereum relies upon the use of open-source Ethereum Improvement Proposals (EIPs) whereby developers and the wider public can submit proposals to improve or change standards to the Ethereum platform. These proposals can affect all aspects of the Ethereum ecosystem, from core code changes and ERC token standards through to public informational resources. Interestingly, the current Ethereum (ETH) blockchain is a fork of the original Ethereum chain after a flaw in the DAO smart contract resulted in the theft of around 3.5 million ETH in 2016. The proposal to reverse the theft was approved by 97% of stakeholders, which resulted in a hard fork with Ethereum (ETH) blockchain reversing the theft, whilst the Ethereum Classic (ETC) chain continued unchanged from the original (preserving the concept of immutability of blockchains). Milestones. Late 2013 - Ethereum White Paper released by Vitalik Buterin. July/August 2014 - Ethereum Crowdfunding to fund development. 30th July 2015 - Public launch (Version 1, codename “Frontier”) with 72 million coins premined 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 updates to the Ethereum Virtual Machine and smart contracts. 2017 - Ethereum Smart Contracts enable the funding of many crypto-currency projects via Initial Coin Offerings (ICOs). December 2017 - Cryptokitties brings out scaling problems in Ethereum, with the network being congested and transactions being delayed. 28th February 2019 - Version 3.5 (codename ”Metropolis: Constantinople”) implementing zk-SNARKS borrowed from ZCash. Utility. Ethereum is the original and still dominant platform for issuing smart contracts that enable ICOs and decentralized applications (dApps) on a public blockchain via the Ethereum Virtual Machine and Solidity. Smart contracts and asset ownership are stored on a public blockchain which makes it possible to easily prove the veracity of contract claims. However, the downside of this public visibility is the public visibility of security holes or unintended consequences of loosely programmed smart contracts (a problem that reared its ugly head in the DAO hack). Ethereum forms the backbone of ICO launches, as projects are able to issue ERC-20 tokens to early investors which are redeemable project native tokens when the project mainnet goes live. These fungible tokens act as unique and transferable proofs of investment in the project. Non-fungible Ethereum tokens (ERC-721) are also able to be used to represent ownership of digital assets (such as Cryptokitties) or to act as tokens to represent ownership of real world assets

Significant Features. - Designed as a Virtual Machine with a Turing-complete language means that Ethereum is the Swiss Army tool of blockchains. Highly flexible and adaptable, but perhaps not always the most efficient solution. - A comparatively large hashrate makes Ethereum one of the more secure blockchains in existence. - Solutions to scaling problems are being investigated, including sharding and a move to Proof of Stake consensus protocol. These changes are slated to be released under the codename Casper. - Alternative sidechain solutions (like MATIC) are also being released independently from the Ethereum core solutions. - Unlimited total supply. Average blocktime 10-20 seconds. - Transactions are pseduo-anonymous. Funds are sent address to address, but an owner identity can eventually attributed to an address given enough data and analysis. - Average Blocktime of 10-19 seconds; Total supply Unlimited; Proof of Work consensus based on ethash algorithm. References: .

Ethereum is working on a new platform upgrade called Constantinople, whose release was delayed because the team found security concerning bugs. [1]
When the transactions by the decentralized app (CryptoKitties) peaked in December 2017 the Ethereum network stuffed so much that delays happened in the whole Ethereum network. [2]

4.0

The Ethereum team is delivering new updates constantly, which can be seen in their GitHub. The current focus is on the new upgrade Constantinople which will make the Ethereum transactions faster while using much less energy. [1]

4.8

Ethereum builds a platform for cryptocurrencies. Companies can to create their own decentralized apps and cryptocurrencies as ERC-20 tokens on top of it. The cryptocurrency Ether is used to pay network nodes for processed tasks. [1]

5.0

The Ethereum platform is well developed and new decentralized apps can be built with it. The apps are coded with the programming language Solidity and have the possibility to implement Smart Contracts. Solidity is built to make Smart Contracts secure. [1] [2]

5.0

The founder of Ethereum (ETH) is Vitalik Buterin. He is well known within the Crypto-Community and contributed to the overall knowledge about blockchains with many forum posts and insights to other cryptocurrencies. Vitalik Buterin founded the Bitcoin Magazine in May 2012. [1]

4.8

Ethereum’s team will overcome hurdles that obstruct the efficient use of the platform (limitation of TPS). The platform might stay at the pole position for building decentralized apps with smart contracts and will grow as blockchain technologies get more interesting and usable for companies.

4.6

The current top project is the Constantinople upgrade for their current platform, which will make the Ethereum network more efficient.

5.0

Ethereum could become the main base for building decentralized applications with smart contracts. [1]

5.0

There are some well known substitutes but Ethereum is still the top platform for decentralized apps with smart contracts.

4.8

Every decentralized app (DApp) is supporting the Ethereum Platform passively.
The network “Ethereum Alliance” is a composition of over 200 big companies. Common companies are MasterCard, Credit Suisse, UBS, Microsoft and Intel. [1]

5.0

The Ethereum community is helping by spreading the word and building applications on its platform. The Ethereum subreddit has over 400’000 subscribers.

4.8

The team consists of well-chosen figures that complement each other, with Vitalik Buterin as their head. [1]

4.8