Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions. Ether is a cryptocurrency generated by the Ethereum platform and used to compensate mining nodes for computations performed. Each Ethereum account has an ether balance and ether may be transferred from one account to another.
Ethereum provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. The virtual machine’s instruction set, in contrast to others like Ethereum Script, is thought to be Turing-complete. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowd sale that took place between July and August 2014. The system then went live on 30 July 2015, with 72 million coins “premined”. This accounts for about 68 per cent of the total circulating supply in 2019.
- Key Highlights
- November 2013: Vitalik Buterin publishes the Ethereum whitepaper.
- January 2014: The development of the was publicly announced. The original Ethereum development team consisted of Vitalik Buterin, Mihai Alisie, Anthony Di Iorio, and Charles Hoskinson.
- August 2014: Ethereum ends their ICO and raises $18.4 million.
- May 2015: “Olympic” the Ethereum test net releases.
- July 30, 2015: The first stage of Ethereum ’s development, “Frontier” was released.
- March 14, 2016: Homestead, the first “stable” Ethereum release, went out on block 1,150,000.
- June 2016: The DAO hack happens and the $50 million worth of Ether, which was 15% of the total Ether in circulation back at the time.
- October 25, 2016: Ethereum Classic forks away from the original Ethereum protocol.
- October 16, 2017: The Metropolis Byzantium hard fork update happens.
- February 28, 2019: The Metropolis Constantinople hard fork update happens.
- Where to Buy Ethereum in Malaysia
There are essentially several ways you can get hold of some Ethereum – mining, trading, or receiving a salary (or payment for a service) in the form of Ethereum.
Among the many ways to get your hands on them, buying Ethereum on a cryptocurrency exchange is by far the easiest and cheapest. Although there are dozens upon dozens of crypto exchanges that you can buy Ethereum with fiat or credit card, they are still limited and restricted based on your geographic location.
If you are located in Malaysia, for example, you won’t be able to use exchanges like Coinbase or Kraken to buy or sell Ethereum. Instead, your next best option will be a peer-to-peer trading platform like Remitano – one of the best cryptocurrency exchange in the space.
Remitano allows its users to buy, sell or swap cryptocurrencies and fiat instantaneously. Think of it as a marketplace for cryptocurrencies. You can easily buy Ethereum on Remitano by choosing a trusted seller on the platform and transferring your fiat currency into his or her bank account. Once the seller has verified that the funds have been received, Remitano will release the Ethereum – that was held in escrow on that platform – to your Ethereum wallet on Remitano.
And just like that, you have bought Ethereum using your own national fiat currency. The platform is one of the largest, trusted peer-to-peer platforms that is the preferred choice for a majority of users in the emerging market, and now rapidly expanding its reaches to other regions across the globe.
- How to Buy Ethereum on Remitano
Buying Ethereum on Remitano is a lot easier than you’d think. Once you’ve passed the KYC process – or also known as the Know Your Customer – you can start buying or selling cryptocurrencies with your national fiat currency.
To buy Bitcoin /Ethereum /Ethereum Cash/USDT/Ripple/Litecoin on Remitano, follow these steps:
Step 1: From https://remitano.com homepage, scroll down, Find 1 seller from ‘List of sellers’ and click Buy
Step 2: Enter the amount of coin you want to buy
Step 3: Fill in your Wallet Address
Step 4: Click on [Buy BTC/ETH/BCH/USDT/XRP/LTC] to open the trade.
Step 5: Copy payment details of the seller from the trade page.
Access your internet banking and pay the seller through INSTANT TRANSFER.
Step 6: Then Press the [I have paid seller] and wait for the seller to confirm. You will lose money if you don’t
And it’s as easy as that! There are many options these days to buy or sell Bitcoin on peer-to-peer exchanges, but it’s always best to go with a trusted platform like Remitano that has been around since way before the 2017 bull run.