Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum is unique in that it is the first and only platform with this capability, which has led to its immense popularity and rapid growth.
However, some have criticized Ethereum for being “pre-mined.” This refers to the fact that the vast majority of Ether (the native currency of Ethereum) was created and distributed before the Ethereum network was even launched.
This has led to concerns that the Ethereum Foundation, the organization behind Ethereum, may have too much control over the currency and the platform.
NOTE: WARNING: Ethereum is pre-mined, meaning all of the Ether (ETH) has already been created and is not mined by individual users. This means that purchasing Ether does not give you any additional ownership, voting rights, or influence over the Ethereum network. Furthermore, pre-mining makes certain sections of the Ethereum network vulnerable to potential malicious actors. It is important that you research and understand all aspects of Ethereum before investing in it.
Critics argue that this centralized control could be used to manipulate the Ethereum network for personal gain.
Supporters of Ethereum argue that the pre-mine was necessary to fund the development of the platform and that the Foundation has been transparent about its use of funds.
They also point out that the Foundation does not have control over the network itself, which is run by decentralized nodes all around the world.
At the end of the day, whether or not you believe Ethereum is pre-mined is a matter of personal opinion. However, it is important to remember that Ethereum is still a young platform with immense potential.
It will be interesting to see how it develops over time.
10 Related Question Answers Found
When it comes to Ethereum, there is a lot of talk about the “meta”. But what exactly is the Ethereum meta? And is it real?
Ethereum Classic is a fork of the Ethereum blockchain. It is an open-source, decentralized platform that runs smart contracts. Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions.
Ethereum Classic is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions. Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions.
Ankr is not part of the Ethereum network. Ankr is a distributed computing platform that utilizes idle resources from a global network of devices to power decentralized applications. The platform is designed to be scalable, efficient, and secure, and provides developers with the tools they need to build decentralized applications that can run on a variety of devices.
This is a question that has been on the minds of many investors recently. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent ownership of property.
Since its launch in 2015, Ethereum has become one of the most popular cryptocurrencies in the world. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is powered by Ether, a cryptocurrency that can be used to pay for transaction fees and services on the Ethereum network.
It is evident that Ethereum has become a common enterprise. The question is whether it is a good thing or not. There are arguments for and against Ethereum being a common enterprise.
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions. Ethereum Classic is a public, open-source, blockchain-based distributed computing platform featuring smart contract (scripting) functionality.
Since its launch in 2015, Ethereum has become one of the most popular cryptocurrencies. Unlike Bitcoin, Ethereum is more than just a digital currency. It is also a decentralized platform that runs smart contracts.
The Ethereum blockchain is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.
