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![South Korea has once again made an indictment connected to a crypto-related crime. This time around, the crime involves drug offenders. Authorities are looking to purge the country of crypto crimes, and this latest indictment is a step closer to their goal. Transactions with the drug deals involved BTC for anonymity purposes A local news […]](https://i0.wp.com/www.thecryptonium.com/wp-content/uploads/2022/09/South-KoreaE28099s-Central-Bank-Initiates-Pilot-Scheme-For-Trialing-Digital-Won-1024x597-1.jpg?w=1200&ssl=1)
![The crypto markets face another downward momentum following a few weeks of persistent gains. Amidst this sudden price decline, well-known crypto and stock analysts ask investors to prepare for more hurdles. He believes the community will still be experiencing a more extensive bear market. Lark Davis thinks the crypto markets will not see a breakout […]](https://i0.wp.com/www.thecryptonium.com/wp-content/uploads/2022/09/Bitcoin-Ether-Cardano-Solana-Bull-Rally-In-Second-Half-Of-2022-Is-Unquestionable-Says-Crypto-Exec-1024x597-2.jpg?w=1200&ssl=1)
![Russia’s prime minister, Mikhail Mishustin has stressed the importance of incorporating digital assets in the country’s cross-broader payment structure. Speaking to bankers and government officials at the St. Petersburg Economic Forum on Tuesday, Mikhail stated that there was need to strengthen the country’s independence and financial self-sufficiency amidst the increasing threat of sanctions. The official […]](https://i0.wp.com/www.thecryptonium.com/wp-content/uploads/2022/09/ECB-Says-Crypto-Regulation-Will-Be-The-End-Of-Putin-As-Fears-Persist-On-Russia-Using-Bitcoin-To-Bypass-Penalties-1024x597-1.jpg?w=1200&ssl=1)
What Is Ethereum (ETH)?
Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
Ethereum was first described in a 2013 white paper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.
The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype code-named “Frontier.” Since then, there have been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.
Ethereum’s own purported 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 fraud.
Information
| Type | Coin |
| Algorithm | Ethash |
| Proof | PoW |
| Minable | Yes |
| Premined | No |