Powerledger

POWR

At A Glance

Total Marketcap

Approx. $87B

Circulating Supply

97,752,095 ETH

Release Date

July 2015

Token Classification

Functional Token

Overview

Ethereum is only 2nd to Bitcoin in terms of market capitalization. The Ethereum Network was conceived by the enterprising Vitalik Buterin, a popular figure in the cryptoverse. On top of being a cryptocurrency, smart contracts may be executed through the Ethereum network. Smart contracts are instructions pertaining to transacting Ether on the Ethereum network written in a programming language called ‘solidity’. All instructions are visible on the network whereas all parties involved are anonymous, making the contract transparent while protecting the identities of the individuals involved. The execution of the contract will be triggered by an event coded into the blockchain. Miners are incentivised to help in executing the contract by being paid in Ether. Executing all the steps of each instruction in the contract might come with different complexities, and these complexities are measured by a unit called gas, which will be paid in Ether. So, the more complex a step is, the more the gas amount, and hence the more Ether is required in compensation by Ethereum miners.

Team

Vitalik Buterin, Mihai Alisie, Anthony Di Iorio, and Charles Hoskinson are in the core team of Ethereum. Vitalik’s reputation precedes him, and the slightest suspicion of his involvement in other cryptocurrencies is often followed by a price spike.

Outlook

Since Ethereum has applications far beyond simply being a currency, huge companies such as JP Morgan, Microsoft, Intel and Santander have decided to form an Enterprise Ethereum Alliance to support the network and usher in the era of transparent, decentralized, fair applications for value.