Ethereum (ETH), described by Vitali Buterin for the first time in 2014, has become the second largest cryptocurrency in 2017
With a market cap of currently 50 billion USD, Ethereum (ETH), described by Vitali Buterin for the first time in 2014, has become the second largest cryptocurrency in 2017.
The decentralized platform is managed by the non-profit Ethereum Foundation in Switzerland and offers the creation, administration and execution of so called smart contracts through its own blockchain.
Unlike Bitcoin, however, Ethereum is not a pure cryptocurrency, but acts as a platform for a variety of applications within the framework of the smart contracts.
These include e-voting systems, virtual organizations, identity management or crowdfunding, which would also enable for example automated license statements, emergency services and land register entries in the future.
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