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What is Ethereum?

Ethereum (ETH)

Ethereum’s meteoric rise came about due to the hype over Smart Contracts. It recently had a very large amount of ICOs on its platform and a lot of interest from the developer community. It is a Turing Complete language meaning that pretty much any kind of program can be written on it. It aims to be a platform on top of which Dapps and Smart Contracts can be written. It uses its own programming language, Solidity.

Consensus Method Currently PoW. Planned PoS

Intended/ Current Uses Smart contracts, Dapps, ICO platform

Risks

  • A repeat of the DAO hack on other software developed on the platform due to the room for error and unfamiliar programming language
  • Slower uptake due to unfamiliar programming language
  • Superior tech may overtake it
  • Uncertainty surrounding PoS shift

Advantages

  • Turing Complete allows a very broad range of Dapps to be programmed on the platform
  • Largest following amongst blockchain developers
  • Arguably the best developer tools
  • Large corporate support through the Ethereum Enterprise Alliance (EEA)
  • Concise programming language suitable for blockchain
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