As of September 2017, we summarized the overview and future movements of the virtual currency market, the second largest market capitalization of the Ethereum in 3 minutes.
There are currently more than 1,000 altcoins on the market, but Ethereum is by far the most prolific with market shares second only to Bitcoin.
How it Works
In the same sense that Bitcoin is distributed digital money, Ethereum is a platform for creating distributed application (Decentralized Applications = DApps)..
Therefore, special languages are necessary, but you can create infrastructure facilities and services in the block chain network by using functions that can automatically execute and manage contracts called smart contracts.
Chart of Market Capitalization
Due to growing interest in ICOs, demand for ETH exploded from approximately 8 USD/1 ETH on January 1, 2017 to 477 USD/1ETH in June – a 395 growth.
One factor behind this may be explained by the practicality of Ethereum. Speaking of…
Practicality of Ethereum
Bitcoin is a platform for documenting token exchanges, which are then given value by the potential market users see in the tokens; it is essentially a currency.
Ethereum, on the other hand, is a platform for documenting smart contract exchanges, so the tokens also have a functional purpose. It is this purpose that allows Ethereum to be used to develop dApps.
As of September 2017, there are approximately 681 Ethereum-based projects in development or currently running ICOs.
Ethereum has become even more practical after the Homestead update in March 2016. Although the initial startup effort is higher than before, Developers can create applications directly on Ethereum’s network.
Examples of projects using Ethereum: tracking services that allows you to know where products are sold, and projects aiming at distributed virtual exchanges.
ETH are issued after confirmation by proof of work (PoW). Miners can earn rewards for successfully mining tokens, much like Bitcoin.
In the future, Ethereum will transition from proof of work (PoW) to proof of stake (PoS).
Future of Ethereum
In August 2017, the company announced that it will release an update called “Metropolis” – a new smart contract platform, in late September 2017. Blockchain companies can look forward to a simpler development process, which may prove beneficial to the financial prospects of Ethereum.
Ethereum Development Stages
1. Frontier released in July 2015: test version for internal engineers
2. Homestead released in March 2016: stable version of Frontier
3. Metropolis: prep for transitioning from PoW to PoS/general users release
4. Serenity: complete transition from PoW to PoS
Ethereum will continue to evolve as the development stages progress.
Official website: https: //www.ethereum.org/
White paper English: https: //github.com/ethereum/wiki/wiki/White-Paper
White paper Japanese: https: //github.com/kurihei/Ethereum-WhitePaper-JP/blob/master/%5BJapanese%5D-White-Paper.md