The other side of the first ICO in the world

Cryptocurrency, coming on the heels of Bitcoin. What determines the success of the Ethereum.

2011: Inspired by his father’s ideas, unknown at that time, the developer Vitalik Buterin gets interested in Bitcoin and soon becomes the co-founder of Bitcoin Magazine. His mind gives rise to the idea — to create a new platform based on the blockchain to improve the bitcoin functionality. Soon, he writes the Whitepaper of the project, which is destined to change the world.

2014: A crowdfunding campaign begins, during which the team raised more than $ 18 million. The project “shot”, large investors and banks were interested in it, the best expectations of Vitalik were confirmed.

2015: The platform was launched, and became fully functional in 2016 with the release of the Homestead protocol. A new era of blockchain has begun.

What is the killing feature of the Ethereum, thanks to which it eventually succeeded?

Decentralized applications.

Now they have become something ordinary, but just a couple of years ago, the platform that had a modern and convenient tool for creating DAPPs based on blockchain and smart contracts blown the minds of the entire crypto community and set a powerful trend to the movement as a whole.
Vitalik showed how flexible and universal blockchain is.

Due to the fact that Ethereum “discovered America” for new colonizers of the blockchain and has well established itself in the market, the vast majority of ICOs are held with the help of Ethereum based smart contracts. But to associate Ethereum exclusively with ICO means not to notice a massive amount of opportunities. The flexibility of the platform is that each user can write any smart contract in a special programming language and integrate it into the Ethereum network. Serpent, Solidity, Mutan, LLL — in the end, if you have enough strength and nerves, you can write your EVM(Ethereum Virtual Machine)-compatible programming language and write a smart contract on it. Easy to go!

In practice, this means that Ethereum allows you to implement almost any smart contract: automation of salary payment, utilities calculations etc. — everything is limited only by the imagination of the Creator.

Ethereum can become even more attractive for the investors after several bug fixes: the PoW Protocol, slow transactions and quite high commissions(~1$). However, the transition to a more advanced PoS Protocol will minimize fees, and sharding will solve the slow transactions issue, which will unload the entire network. Still would not let mischievous cryptokittens play with the threads of the blockchain…

Ethereum is a well-established platform for the creation of DAPPs. Now there are several priority tasks for improvements. This will allow smart contract technologies to fit more seamlessly into the real world.

The Ethereum sets a good tone for the entire sector: striving for improvements, continuously correcting shortcomings and proposing new solutions, he draws on himself the whole movement entirely.
In order not to hamper the development of the entire crypto-sphere to other projects it is also necessary to improve your instrumental to bring up new use-cases and to grow not only horizontally, but also vertically.