Ethereum was proposal in late 2013 by Vitalik Buterin, a young programmer who was told about bitcoin by his father and decided to create a platform for smart contracts; which bitcoin is not designed to do. The Russian native began working on Ethereum after he dropped out of college, according to CNBC.
Ethereum is an open source, public, blockchain based, distributed computing platform featuring smart contract functionality or otherwise known as scripting. This smart contract technology allows you to write and build decentralized applications on the ethereum blockchain. Several recent ICO’s such as Bitquence and Stox have raised crypto capital to fund their project development built on the ethereum blockchain. We will continue to see hundreds of teams attempt to raise capital via ICOs with varied application concepts that utilize ethereum’s smart contract technology. Ethereum has vastly simplified the process of creating a new and unique token by providing you with the structure required to write new contracts.
All decentralised applications use smart contracts that are deployed on the “blockchain backend”. Smart contracts handle the most important data processing and storage for your application. Smart contracts on the blockchain aren’t very useful without a user interface. A UI can be built in any language or environment that can talk to Ethereum over a network connection. This is revolutionary technology that did not exist before the ethereum blockchain.
Etheruem is the worlds first super computer inspired by Bitcoin’s blockchain technology. As time goes on, developers all around the world will become better acquainted with smart contract scripting. Ethereum is an extremely young technology and its true potential is yet to be unearthed. Soon, government bodies and global corporations will begin to implement smart contract technology to facilitate internal processes. This has increased blockchain awareness and is driving the price of cryptocurrencies such as etherum through the roof. The Enterprise Ethereum Alliance found here www.entethalliance.org ‘connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts’. Companies will soon start to leverage this ground-breaking technology to address specific use cases across multiple industries.
Ethereum is up 2000 per cent this year alone and experts are forecasting a targeted price of 1000 USD by 2018, which represents a potential 400 per cent return on investment in less than 12 month. I personally forsee 1000 USD in the next 6 months. My forecasted price is based on the fact that ICOs are raising ether, which increases demand and awareness as we have seen in the most recent ICO with Floyd Mayweather announcing on Instagram that he was personally investing in Stox.