Ethereum is an open source public blockchain platform with intelligent contract function. A decentralized virtual machine (called "EthereumVirtualMachine") is provided by its special cryptocurrency Ethereum to handle peer-to-peer contracts.

In 20 13, 19-year-old VitalikButerin first mentioned the idea of Ethereum in a book called Ethereum White Paper: Next Generation Intelligent Connection and Decentralized Application Platform. Then in 20 14, the algorithm and protocol of Ethereum officially landed, and the financing was1500,000 USD. The system itself was finally completed on July 30, 20 15.

As the representative of Blockchain 2.0, the mainstream currency Ethereum is regarded as the weather vane to encrypt the digital currency market. However, in the past week, the price of Ethereum has continued to fall. On August 4, 20 18, 18, Ethereum plunged by 20%, setting a record low of $257 this year. Compared with this year's peak of $65,438 +0.295, the price of Ethereum has shrunk by more than 80%. Affected by this, on August 6th, 20 18+05, none of the top ten mainstream currencies in digital currency market was spared, and they fell across the board, with several single-day declines exceeding 10%.

Extended data

The planning of Ethereum started almost from 20 13, and the project started from 20 15. Before that, there were many imitators in digital currency, who made various modifications on the basis of Bitcoin code. In this way, it is difficult to develop a new blockchain application, reposition a new chain, and then develop applications on this chain. The motivation to use only one * * * knowledge mechanism is a huge maintenance workload. This is like developing an APP on a mobile phone and developing an Android system together.

After the advent of Ethereum, it is equivalent to the underlying operating system of blockchain. In the Ethereum, you can easily develop all kinds of DAPP without considering the underlying development, and you can also enjoy the computing power and storage of Ethereum. This instantly lowered the development threshold of blockchain for programmers, and the emergence of Ethereum played a very important role in the development and popularization of blockchain applications. This is why Ethereum is called blockchain 2.0.

Baidu Encyclopedia: Ethereum

People's Daily Online: The price of Ethereum plummeted by 20% a day, hitting a new low in the year and shrinking by 80% compared with the peak.