What is Ethereum (ETH)?

Ethereum (ETH) is a decentralized blockchain network for verifying transactions. Ethereum users can create and use applications on the platform and use the cryptocurrency ether as a form of payment. The decentralized applications on the network are called decentralized applications (dApps). 

What is Ethereum (ETH) used for?

Ethereum is used for a wide variety of cases. Compared to Bitcoin (BTC) it has a lot more possibilities. Ethereum is much more than just a virtual coin. It is both a blockchain and a cryptocurrency. 

The coin ether can be used as a digital currency in financial transactions, as an investment or even as a store of value. This is the part of Ethereum that most investors will limit themselves to, but Ethereum has a lot more to offer.

The Ethereum blockchain can be used to store data and run dApps. Rather than hosting software on servers operated by companies such as Amazon, developers can choose to host their applications on the Ethereum network. This gives developers complete freedom as there is no central authority managing everything.

One of the most important aspects of Ethereum are so called smart contracts. They are similar to a traditional contract in which two parties make an agreement about, for example, the delivery of goods in the future. Unlike conventional contracts, smart contracts

 are self-executing once the conditions are met.

Ethereum is home to a large portion of all cryptocurrency and blockchain projects. As such many projects you might come across are only possible because of Ethereum. 

Why is Ethereum (ETH) worth money

There are a lot of different crypto assets that, while they rely on the same core of blockchain technology, focus on different use cases. This means there does not have to be a single winner, there can be multiple winners.

Of course, Bitcoin (BTC) is the absolute king of crypto. Ethereum however is a rather close second. They are perfectly able to exist side by side because their use cases are so very different.

Ethereum was the first blockchain that was optimized for programmability and smart contracts. This may be one of the most exciting applications of the new and revolutionary blockchain technology. At the moment Ethereum is also the largest such project.

Because of this people are extremely interested in the project and the demand is very high. As more projects onboard the Ethereum ecosystem this demand is only going to grow. 

Moreover, Ethereum is currently undergoing a major update. The Ethereum 2.0 update is going to bring even more possibilities to the table. Some of the most glaring problems with the network are going to be solved and this is only going to accelerate the current trend.

Because of Ethereum 2.0 the asset is also going to be even more scarce as current ether tokens will be burnt at an incredible rate. Ethereum is seen as a solid investment, the demand is extremely high and as a result the value of Ethereum is enormous.

How many Ethereum (ETH) are there?

Unlike bitcoin (BTC), ethereum (ETH) does not have a limited supply. In theory an unlimited amount of ether can exist in circulation. One could argue this means ethereum will never be scarce in the same way bitcoin is.

However, the team behind Ethereum has found a way to combat this. Included in the Ethereum 2.0 update is a feature that allows for the ‘burning’ of ether tokens. This process makes it so that for every block that has been mined ether tokens will be burned.

This has the potential to make the total ether supply deflationary. In fact, there has already been a day during which more ether tokens were burned than new tokens were minted. 

Who invented Ethereum?

Ethereum was launched by a small group of blockchain enthusiasts in 2015. Ethereum was first described in a white paper that was written by Vitalik Buterin. Buterin argued that Bitcoin and blockchain technology could benefit from more applications than just a financial one.

In total eight people worked tirelessly to realize Ethereum. Formal development started in 2014 and the focus laid heavily on the implementation of smart contract software. This was mostly done by Gavin Wood, who later went on to found Polkadot (DOT).

Ethereum was a great success and it quickly became the second largest cryptocurrency behind bitcoin. The team behind Ethereum, however, did not last. All but one of the original developers left to focus on other projects within the world of blockchain or outside of it.

Only Vitalik Buterin remains. He is widely regarded as the father of Ethereum and the face of the project. He still makes the calls on the future development of Ethereum and has claimed a prominent position within the world of crypto. 

He is also famously philanthropic, giving away much of his amassed fortune to charity.

Get salary in Ethereum (ETH)

Ethereum (ETH) and other cryptocurrencies are slowly but surely taking over the world. As a result the possibilities are growing. Today it is even possible to get paid in ether. Especially many companies that focus heavily on blockchain technology will not hesitate to allow salaries to be paid in bitcoin.

On Blockchain4talent.com we offer many such job vacancies. Are you interested in cryptocurrency jobs or Ethereum jobs? You have come to the right place. We offer more than 1,000 different cryptocurrency and ethereum jobs and many of them even come with the option to receive payment in the form of bitcoin or ethereum.

Do not wait any longer and apply for your dream job today!

Build on Ethereum

Ethereum jobs all around Europe are in huge demand. As the adoption of Ethereum by companies, and even countries, is expanding, so is the availability of Ethereum related jobs. 

As many projects build upon the Ethereum blockchain there is sure to be a developer job that suits all your preferences.

A plethora of other cryptocurrency jobs are also available on our website. Development on countless different cryptocurrencies is never ending and the potential of this exciting world is endless.

The industry is so new and revolutionizing that crypto-knowledgeable people are in great demand and hard to find. Luckily, this means a lot of job openings are often available.

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