Bitcoin - slipped down to $67 000

Ethereum - is now holding at $3 280

Solana - $176 (with some network issues)

ALL ABOUT ETHEREUM

Let's dive right in, this week we cover a little about Bitcoins first and main competitor:  Ethereum!

After bitcoin went to the roof, we saw the arrival of their first real competitor. So, let's start learning about some key differences: 

Ethereum has a founder who has not remained mysterious: Vitalik Bueterin, who is the person who published their white paper ( a document that details the business idea and structure that is made public helping encourage investment) in 2013. This attracted others to join the team:  Gavin Wood, Charles Hoskinson, Amir Chetrit, Anthony Di Iorio, Jeffrey Wilcke, Joseph Lubin and Mihai Alisie, who are all considered co-founders of Ethereum.

Ethereum raised capital with a method called the ICO (initial coin offering), where they sold millions of dollars worth of ETH to raise funds for the project. Using this method, they raised over $18 million, paid for in Bitcoin. 

The main difference of the Ethereum blockchain is that it is designed to be more versatile, or user friendly, allowing more building and collaboration. 

For example, we know the original NFT’s were all designed on the Ethereum blockchain. 

The POW (proof of work consensus) allowed users to build their own mining rigs and begin mining the cryptocurrency. 

Ethereum constantly upgraded their approach, and made a huge shift from POW to POS (proof of stake) with the goal of improving the scaling aspect of the chain, as well as reducing the environmental impact from mining. 

After the POS system was implemented, gas fees were introduced to pay for transactions and during 2020-2021 the network suffered high network fees which challenged many users. 

After a quick reverse in 2016, the network was attacked by a DAO (Decentralized Autonomous Organization, which we will cover more in depth in a later newsletter). This caused Ethereum to experience what was known as the hard fork, which resulted in 2 separate blockchains and 2 separate native assets (tokens);.

It does not mean that two distinct Ethereum networks exist, instead they work in conjunction, Eth1 handles transactions and their execution, while at the same time, Eth2 manages proof-of-stake consensus. 

In its early days, Ethereum was trading around $2 Per coin, after which it surged to $1 400 per coin,  and is currently $3 275 per coin. 

General overview:

Ethereum has an interesting history, and is also a very active ecosystem, with many exciting projects built on their blockchain. The company is always improving and looking for ways to lower the high gas fees. 

Here at Cryptocube, we believe in building strong foundations in order to make educated and informed decisions when trading or investing, which is what moivated us to cover the 2 main crypto titans: Bitcoin (in our last newsletter) and Ethereum. 

They are the 2 largest by market cap, and are the safer options out of the vast array of currencies available.

Remember the market is volatile and always DYOR (do your own research) before investing

Let us know how you liked this week's newsletter

Next week, we will talk about trading and investing including the different kinds of crypto opportunities that are coming up this year. 

We are here to help!

Feel free to reach out at any time, and if there are topics you would like to hear or learn about, you can let us know, and we will try cover it in an upcoming newsletter. 

Stay tuned for more exciting projects and content coming up this year with CryptoCube. 

We are excited to have you on board this awesome journey ! 

Let's take off together ! 

Happy adventuring 

CryptoCube