2018 Star Coin Ethereum(ETH)

Vitalik 2025-10-14 14:39 91118人围观 ETH

218. . BTCIOTAXLM ADADash Electronic Currency Column ETH It utilizes many mechanisms similar to Bitcoin ( ...

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2018 Star Coin Ethereum (ETH)

Ethereum was created in 2015. It is an innovation that applies some technologies and concepts in Bitcoin to the computing field. It uses many mechanisms similar to Bitcoin (such as blockchain technology and P2P networks) to maintain a shared computing platform. The platform is flexible and secure enough to run any program a user wants (including blockchain programs like Bitcoin).

Ethereum is a “global computer”. Anyone can upload and execute applications, and efficient execution of the program is guaranteed. This guarantee relies on the extremely strong robustness of the Ethereum system, a decentralized consensus network composed of thousands of computers around the world. Ethereum is based on the blockchain technology used in Bitcoin and other systems. At the same time, it also uses cryptography and economic incentives in Bitcoin and other systems as a guarantee of computing security. However, due to its support for programming languages, Ethereum opens up greater possibilities.

The biggest advantage of Ethereum is that it provides blockchain-based smart contracts. First, let us refer to a non-blockchain smart contract example to understand its basic operation mode: the automatic repayment service of a credit card. It is at a specific time (credit card repayment date), when the repayment conditions are met (the balance of the savings card is greater than the credit card repayment amount), the bank system center will automatically complete the transaction (use the originally set savings card to repay the credit card).

The above example is a typical centralized smart contract. Its biggest problem is "credibility" because user data can be tampered with without knowing it. Blockchain technology provides an excellent solution ； Its construction and execution can be divided into the following three steps: 1. Multiple users jointly participate in formulating a smart contract ； 2. Contracts are spread through the P2P network and stored in the blockchain ； 3. Smart contracts built on the blockchain are automatically executed. Simply put, Ethereum brings a decentralized, tamper-proof, and highly reliable smart contract.

Ethereum has experienced 7 hard forks in its three-year history. The most famous one occurred in July 2016, when Ethereum officials modified the source code of Ethereum and forcibly transferred The DAO and its DAO funds to another contract address at block height 1,920,000. In this way, the coins in the DAO contract controlled by the attacker were recaptured. This incident also resulted in two chains: the original blockchain (ETC) and the forked new chain (ETH).

At that time, those who supported the classic Ethereum ETC believed that no matter what kind of problems occurred with the funds, it had become a fact, and the spirit of blockchain application was that it could not be tampered with. Once the ledger was formed, it was formed. This is a principle that must be adhered to. The ETH side believes that the DAO incident is an illegal act of sabotage. ； The behavior that occurs on software systems cannot be illegal and ignore the significance of justice. It is inappropriate to allow vandals to attack in order to adhere to a belief. Since ETH has improved the previous smart contract loopholes, everyone now uses it to construct various contract coins and application scenarios.

ETH's 5 key index evaluation scores are as follows.

01

Market Index: 8 points

Let’s imagine a scenario where Slock (an IoT platform based on Ethereum) is used to provide bicycle rental services. The bicycle owner will install a Slock (smart lock) on the bicycle and register the bicycle with a smart contract on the Ethereum blockchain. Next, anyone can send a car rental request to the smart contract and make payment at the same time. After receiving this request, the contract will automatically forward the cryptocurrency to the bicycle owner and record a status (status). This status is used to indicate that the sender of the digital currency has just obtained the right to use the bicycle for the next three hours. Next, within three hours, the person can send specific signature information to Slock through the mobile phone, and this signature information will open the smart lock on the car.

The entire leasing process mentioned above does not involve any centralized payment processing organization, not even the company Slock itself is involved. Therefore, people who use locks like Slock don’t have to worry about the lock being unusable after the company Slock goes bankrupt, nor do they have to worry about service providers suddenly starting to charge high fees, nor do they have to worry about all their private transaction information falling into the hands of a certain party.

Through the implementation of Ethereum smart contracts, people can even create their own digital currency on it (anyone can create a digital currency named after him/her on Ethereum), crowdfunding contracts (similar to two or more open and transparent fund accounts), and autonomous management organizations (such as the creation of two or more financial leasing companies).

What Ethereum will build in the future is an economy where machines and equipment are interconnected. Machines move data and money in ways that will dwarf the efficiency of human input. Businesses that ignore this trend will pay a heavy price as new supply channels emerge that do not require traditional third-party infrastructure. Since Ether is the utility token of the Ethereum platform, its value will grow as more individuals or institutions build decentralized/decentralized enterprises on the platform.

02

Liquidity index: 9 points

Number of circulating coins: 97,132,790 ETH ； Maximum number of coins: 97,132,790 ETH.

There are currently 398 platforms for trading ETH, with sufficient liquidity to fully meet the needs of retail investors. Daily trading volume is approximately US$4 billion ； Based on the currency price of $1050 at this time, the amount of coins is approximately 3.81 million, accounting for about 3.9% of the number of circulating coins.

The biggest drawback of ETH is its low scalability, which is currently about 20 to 30 tps.； Settlement speed is about 4 to 5 minutes. Such slow speed often causes congestion in operations such as ETH payment and remittance. Ethereum is currently actively seeking solutions.

03

Team Index: 9 points

Vitalik Buterin is the founder of Ethereum, co-founder of Bitcoin Magazine, and a long-time developer and research pioneer of blockchain and cryptocurrency. The Chinese currency circle calls him “V God” and considers him to be a genius on the same level as the inventor of Bitcoin. His Twitter account is followed by many big names in the currency circle, entrepreneurs, financiers, capitalists and celebrities. Not long ago he announced his return to Ethereum

The team improved the expansion problem and gave the Ethereum ecosystem a boost.

Ethereum itself is also a land of hidden dragons and crouching tigers, and many senior programmers have joined this blockchain "treasure land" to contribute.

04

Price index: 7 points

ETH's growth rate in 2017 was approximately 9,200%, which is considered average in the currency circle.

In recent weeks, Ethereum has climbed back up after a wave of adjustments due to the return of Buterin. It shouldn't be difficult to reach new highs over time.

05

Popularity index: 8 points

From the picture above, we can see that in the past 90 days, the frequency and fluctuation of Ethereum searches on Google are not as great as Ripple, but more stable.

The Enterprise Ethereum Alliance (EEA) was announced in March last year； This organization aims to collaborate on developing standards and technology to make it easier for enterprises to use the Ethereum blockchain code, thus moving towards the era of distributed ledger systems. Team members include JPMorgan Chase, Microsoft, Intel, Accenture, Santander, BP, Credit Suisse, UBS, BBVA, Bank of New York Mellon, Thomson Reuters and other multinational companies.

Ethereum’s capabilities have also received national recognition. Earlier this year, the National Research Council of Canada (NRC) began trialling the Catena Blockchain Suite system based on Ethereum blockchain technology. Unlike existing methods, blockchain systems cannot be destroyed and data that has been entered cannot be tampered with or revised. ； Greatly improve the transparency between the government and citizens.

Ethereum has a group of mature fans on various social networking sites； The frequency and quality of code released by its many programmers on GitHub are also among the best in the cryptocurrency industry.

future outlook

Although Ethereum is the leader and still wears the halo of V God, it may be overtaken by new coins if it does not accelerate its improvement. It is worth noting that newly emerging competitors include Cardano (ADA), EOS, Qtum, Bitshares (BTS), etc. (for ADA and BTS, please refer to the other two earlier articles) ； Each of them comes with various improved mechanisms and is fierce. However, Ethereum won at the starting point and has been recognized by large enterprises and even the government. I believe its status is safe for the time being.

At present, investment institutions and large funds are still waiting to see the currency circle. I believe their participation is only a matter of time. ； By then, these heavy funds are likely to be invested in mainstream currencies, and ETH should benefit from it.

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