IMX Ethereum is a public, decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum is similar to Bitcoin in that it is a decentralized digital currency. However, Ethereum goes beyond being just a digital currency.
Ethereum’s blockchain technology can be used to create decentralized applications (dapps).
Dapps are distributed applications that run on the Ethereum network. They are open source, and anyone can create and deploy a dapp on the Ethereum network.
NOTE: WARNING: “Is IMX Ethereum?” is not a valid question. Ethereum is a digital currency and IMX is an abbreviation for the Indian Mercantile Exchange, which is a commodities and derivatives exchange. They are not the same thing, so asking if one is the other will result in an incorrect answer.
What makes dapps different from regular apps is that they are not controlled by any central authority. Dapps are decentralized and run on the Ethereum network.
The IMX token is an ERC20 token that will be used to power the IMX ecosystem. The IMX token will be used for transactions on the IMX platform, and will also be used to reward users for their contributions to the IMX community.
The IMX token sale is currently live, and the IMX team is working hard to bring the IMX platform to life. The IMX platform will launch in Q1 2018.
So Is IMX Ethereum? In short, yes! The IMX team is building the IMX platform on top of the Ethereum network. The IMX token is an ERC20 token, and the IMX platform will use Ethereum smart contracts.
4 Related Question Answers Found
There is no doubt that Ethereum has been a game changer in the world of cryptocurrency. In less than two years, it has become the second largest blockchain platform after Bitcoin, with a market capitalization of over $1 billion. But what is Ethereum and what makes it so special?
An ICO, or initial coin offering, is a new way of funding start-UPS and other companies that is growing in popularity. In an ICO, a company creates a new digital currency and offers it for sale to the public, in exchange for other currencies like Bitcoin or Ethereum. The new currency is similar to a share in the company, and can be traded on exchanges or used to purchase goods and services from the company.
In 2015, a 19-year-old Russian-Canadian programmer named Vitalik Buterin published a white paper describing Ethereum, a decentralized platform that would use blockchain technology to enable anyone to build and run decentralized applications. The vision was to create a “World Computer” that would be more resilient and democratized than the centralized servers that power the internet today. Since its launch in 2015, Ethereum has grown to become the second largest blockchain platform by market capitalization, with a community of developers building thousands of decentralized applications on its network.
Cosmos is a decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint. The Cosmos Network is an ecosystem of blockchains that can scale and interoperate with each other. The vision of Cosmos is to create an Internet of Blockchains, where different blockchains can transfer value and data to each other in a trustless and decentralized way.
