Ethereum (ETH) as a decentralized computing platform was founded by Vitalik Buterin, Charles Hoskinson, and many others. Progress began in 2014, with the official release occurring in mid-2015. Ethereum is a more larger surface area application of the Decentralized Ledger Technology.
Ethereum was designed with the intention of having a scripting language for application development, which Bitcoin lacks. Dapps (decentralized apps) are now some of the most intense research and development areas in the digital currency space. Ethereum trades some security for versatility, though the development team is working extensively on improving security and scalability.
Though took inspiration from Bitcoin, it differs in many ways. Block times range from 10 – 15 seconds as opposed to Bitcoin’s 10 minutes. Ethereum itself, like Bitcoin, has inspired many projects, including rival platforms that seek to address the shortcomings of Ethereum. These platforms include EOS and Tron, which at the moment are its two closest competing platforms. Ethereum’s purpose of creating a platform for decentralized applications is its most vaunted aspect, as dapps are widely considered to bring the next era of adoption as specific, well-developed and user friendly crypto-based applications bring legitimacy to digital assets in the wider world.
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