We’re getting down to the wire now, and we hope you’ve got your decorations and presents sorted for Christmas.
If you’ve joined the crypto scene this year and learned about Bitcoin – chances are you have also heard about Ethereum.
So, let’s take a look!
What is Ethereum?
Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract functionality.
This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and much more, all without a middleman.
More facts about Ethereum:
- Established Date: July 2015
- Circulating Supply: 96,333,093
- Total supply: Uncapped at present
- Market cap: $69 Billion USD
- Notable team members: – Vitalik Buterin, Founder
At the beginning of 2017, Ethereum started at $8.16 US dollars.
Today it’s around the $715 USD mark
That’s roughly an 8650 % increase in the year!
Source: Coin Market Cap
Why the hype?
Ethereum was the first blockchain platform to offer decentralised smart contracts which are resistant to censorship, fraud or third-party interference.
You could say that Ethereum was the grandfather of Initial Coin Offerings, ICOs.
2017 was a huge year for launching new blockchain projects and it seemed as though the majority were on the Ethereum network. For investors to get involved in an ICO, they were first asked to send Ethereum to the wallets of the startup. And as you can imagine, with promises of ridiculous returns, potential investors would(and still) purchase Ether to get involved.
So should you buy some Ether to get involved with new projects? With anything, we urge you to do your own research first before jumping in.
Buy, Store & Spend Ethereum with Wirex
Our development team have added the integration of the Ethereum wallet onto the roadmap for Q2 2018. Soon you’ll be able to buy, store and spend Ether within the Wirex app (more about this shortly).
Whilst we are working on the development of the Ethereum wallet, you can still deposit Ether into your Bitcoin wallet (we’ve integrated with Shapeshift), making it ready to spend via your Wirex card.
It’s just a few taps away. If you’re new to Wirex, it’s free to sign up.
What are your thoughts on Ethereum? Yay or Nay? Check out our post on Ethereum vs Ethereum Classic for a deeper dive into the history of Ethereum.
Join the discussion in our community forum below.