Ethereum Max Coins Limit ?
I heard that ethereum does not have any coins limit, but i have also heard that mining will be end in about year after abandon proof of work? Can somone explain how many coins will exists in ethereum network, and if and when proof of work will be ended ? I was trying to find some informations, but only thing i have found was bitcointalk thread claims that ethereum is scam Continue reading >>
How Will Ethereum Scale?
Like other public blockchains, ethereumintends to support as many users as it can. The problem is that, today, we don't really know the limits of theplatform. Because of a hard-coded limit on computation per block, the ethereum blockchain currently supports roughly 15 transactions per second compared to, say, the 45,000 processed by Visa. This limitation of ethereum and other blockchain systems has long been the subject of discussion by developers and academics. While ethereum developers might like to highlight how the flexible smart contract platform differs from bitcoin, for example, it isn't unique in regards to scalability. As disappointing as that might sound, there's hope in proposed solutions that havent made it into the official software yet. Ethereum and bitcoin use a combination of technical tricks and incentives to ensure that they accurately record who owns what without a central authority. The problem is, its tricky to preserve this balance while also growing the number of users (especially to the point where average people can use the system to purchase coffee or run applications). That's because ethereum depends on a network of 'nodes', each of which stores the entire ethereum transaction history and the current 'state'of account balances, contracts and storage. This is obviously a cumbersome task, especially since the total number of transactions is increasing approximately every 1012 seconds with each new block. The worry is that, if developers raise the size of each block to fit more transactions, the data that a node will need to store will grow larger effectively kicking people off the network. If each node grows large enough, only a few large companies will have the resources to run them. Despite the inconvenience, running a full node is the best w Continue reading >>
'well, There's No Limit On It': Ohio Student Makes A Fortune Buying Canadian-invented Ether Cryptocurrency
'Well, there's no limit on it': Ohio student makes a fortune buying Canadian-invented ether cryptocurrency Eddy Zillan, 18, has made over $500K betting on the virtual currency Posted: Dec 10, 2017 5:00 AM ET Last Updated: Dec 10, 2017 5:00 AM ET Eddy Zillan, 18, is a virtual currency investor and the founder of Cryptocurrency Financial, a firm that teaches people how to invest in digital money like bitcoin and ether. (Submitted by Eddy Zillan) Producer, On The Money on CBC News Network Anne Gaviola is a hunter, gatherer and teller of stories. Follow her on Twitter @AnneGaviola, on Instagram at annegeewhiz Don't get irrational over bitcoin, expert warns Eddy Zillan is an 18-year-old high school senior in Cleveland. He loves going to car shows and he plans to attend dental school after he graduates to become an orthodontist. In many ways, he's like most students his age except for the fact that he's made a fortune buying and selling cryptocurrencies. In about three years, Zillan has turned about $12,000 USinto more than $500,000. It all started with gifts he got at13. "A portion of the money I received for my bar mitzvah, I used it to fund my investments," he saysin an interview onNov. 30. "Also, I used to work as a tennis instructor and I invested that money as well." Ether and bitcoin prices share a similar trajectory. (Coinbase) Chances areyou've heard about bitcoin and its meteoric rise and wild price swings. Zillan looked into bitcoin years agobut decided to invest most of his cash in another, lesser-known virtual currency invented in 2013by Russian Canadian Vitalik Buterincalled ether. After months of research and talking to people who knew a lot more than he did about virtual currencies, Zillan decided to put his money on ether. "I thought that maybe there was som Continue reading >>
Ethereum - Wikipedia
This article has multiple issues. Please help improve it or discuss these issues on the talk page . This article relies too much on references to primary sources . Please improve this by adding secondary or tertiary sources . Some of this article's listed sources may not be reliable . Please help this article by looking for better, more reliable sources. Unreliable citations may be challenged or deleted. The Ethereum Project's logo, first used in 2014 Ethereum is an open-source , public, blockchain -based distributed computing platform featuring smart contract (scripting) functionality.  It provides a decentralized Turing-complete virtual machine , the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called "ether", which can be transferred between accounts and used to compensate participant nodes for computations performed.  "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 crowdsale between July and August 2014.  The system went live on 30 July 2015, with 11.9 million coins "premined" for the crowdsale.  This accounts for approximately 13 percent of the total circulating supply. In 2016, as a result of the collapse of The DAO project, Ethereum was forked into two separate blockchains - the new forked version became Ethereum (ETH), and the original continued as Ethereum Classic (ETC).    Ethereum was initially described in a white paper by Vitalik Buterin ,  a programmer involved with Bitcoin Magazine , in late 2013 with a goal of buildin Continue reading >>
Ethereum Not Having A Supply Cap Is Not Such A Big Deal
Bitcoin Development Should Not Hinge On Contributors' Identities Ethereum Not Having A Supply Cap Is Not Such A Big Deal Although the Ethereum ecosystem is attracting a lot of positive attention, some questions still linger. For example, there is no supply cap on the ETH tokens, which leads to constant inflation. Switching to proof-of-take would reduce that inflation, but there wouldnt be a concrete supply cap per se. This is one question a lot of investors should think about. Unlike Bitcoin , with its 21 million coin cap, Ethereum has no particular currency supply limit. That may seem after unusual, but in the world of cryptocurrency, that is not uncommon. At the same time, this brings up the question how the value of individual ETH tokens should be calculated. After all, with no fixed supply, these tokens may as well be worth next to zero. According to a Reddit post , the number of issued ETH is linked to the value of a single token. In a way, this means the more tokens are created, the less valuable they become. Such a principle exists in traditional finance as well when central banks print more money. In this case, however, that value is decided by the free market. Some people may wonder what would happen if a rogue developer would try and double the supply overnight. While it is unlikely this will happen, it is a genuine question. Without the majority of network miners approving this change, it will not go through. Moreover, new Ethereum clients would need to be developed to accommodate this change. Even though there is no fixed supply cap for Ethereum right now, there are certain limits. The number of coins added per year varies a bit and is currently roughly 20% of the supply cap. That number can go down, assuming there will be a block reward halving in the futu Continue reading >>
What Is Ether?
Ether is a necessary element a fuel for operating the distributed application platform Ethereum. It is a form of payment made by the clients of the platform to the machines executing the requested operations. To put it another way, ether is the incentive ensuring that developers write quality applications (wasteful code costs more), and that the network remains healthy (people are compensated for their contributed resources). If you just want to test the technology, you probably don't need real ether. Download the latest Wallet app and switch to the Test Network Check your ether presale balance safely here: The total supply of ether and its rate of issuance was decided by the donations gathered on the 2014 presale. The results were roughly: 60 million ether created to contributors of the presale 12 Million (20% of the above) were created to the development fund, most of it going to early contributors and developers and the remaining to the Ethereum Foundation 5 ethers are created every block (roughly 15 seconds) to the miner of the block 2-3 ethers are sometimes sent to another miner if they were also able to find a solution but his block wasn't included (called uncle/aunt reward) Note that after the Byzantium update is implemented, the mining and uncle reward is reduced to 3 ethers and 0.625-2.625 ethers, respectively. No. According to the terms agreed by all parties on the 2014 presale, issuance of ether is capped at 18 million ether per year (this number equals 25% of the initial supply). This means that while the absolute issuance is fixed, the relative inflation is decreased every year. In theory if this issuance was kept indefinitely then at some point the rate of new tokens created every year would reach the average amount lost yearly (by misuse, accidental key Continue reading >>
The Voodoo Economics Of Cryptos, From The 23-year-old Who Created Ethereum
The voodoo economics of cryptos, from the 23-year-old who created Ethereum Vitalik Buterin during TechCrunch Disrupt in London. It feels kind of like voodoo economics and the price of the token isnt really backed by anything. Thats a very spooky thing. Sure, coming from any number of bitcoin BTCUSD, +0.16% critics, those comments would be expected. But coming from the guy who invented the second most valuable crypto before he even turned 20 years old? Vitalik Buterin, Ethereums co-founder, recently told developers that hes concerned a lot of these token models arent going to be sustainable, according to Bloomberg . Buterin is concerned about supply. Where bitcoin has a 21 million coil limit, theres no scarcity to support Ethereum prices, which are still managing to take out new highs. Regardless, he says he might do something to change that. Specifically, Buterin says hes interested in the idea of imposing fees, known as sinks, on applications built atop Ethereum. They would limit supply by destroying, or burning, ether tokens over time. Introducing some kind of sinks into Ethereum is definitely something were looking at, he said. Buterin also spoke of another way to limit supply. The proof-of-stake plan, which may be put into place as early as the end of the year, rewards users for locking up some of their ether for a set amount of time, Bloomberg reported. Meanwhile, Ethereum saw its price recover a bit on Wednesday, after a coding error resulted in the freezing up of almost $300 million worth of coins. Continue reading >>
Etc To Limit Token Supply, Become Store Of Value This December
ETC to Limit Token Supply, Become Store of Value This December Ethereum Classic has had a theoretically unlimited supply of tokens, with nearly 13 million created each year. However thats about to change this December, as Ethereum Classic implements a new policy to limit the supply of tokens. The goal is to make the asset a better store of value. ETC prices have exploded in the last few weeks in response. Join the Bitsonline Telegram channel to get the latest Bitcoin, cryptocurrency, and tech news updates: Ethereum, and by extension Ethereum Classic, was created with the idea that there should not be a maximum limit on the amount of tokens. This is in contrast to Bitcoin, which has a hard cap of 21 million. The idea behind the unlimited supply is that tokens would be used to pay for services from the network. Ethereums ether was created not as a currency, but as fuel that powers the network. An overly limited supply could make it impossible to pay the network to operate, which could cause it to fail.Too fewtokens, and the price would not be economical for real world use. An unlimited supply means that prices will always drop as more and more tokens are created and put on the market. Earlier this month, Vitalkin Buterin considered implementing various way to burn, or destroy ether, to control its supply. This means that whenever a certain type of transaction occurs on the network, a small amount of Ether would be permanently destroyed. Ethereum Classic, on the other hand, has a different solution to the problem. The solution Ethereum Classic will use is in its upcoming ECIP 1017 monetary policy. The rules stipulate that starting at block 5 million, or on December 12th, the block reward will drop from 5 to 4 ETC. This downward trend will continue until eventually the blo Continue reading >>
Mining - What Is The Total Supply Of Ether? - Ethereum Stack Exchange
In Bitcoin, the total supply is capped at 21 million BTC. Is the total supply of Ether capped? How much will be mined before the Proof of Stake (POS) transition, and how will POS affect the issuance model? I'm not sure anyone really knows the answer, as it hasn't been decided, AFAIK. Tjaden Hess Jan 25 '16 at 20:42 Thanks. Was afraid of that. Hope that gets decided soon - would vastly prefer a fixed money supply at time of Proof of Stake with mining paid for by transaction fees only. Matthew Light Jan 25 '16 at 21:02 To clarify, homestead and PoS start are not necessarily the same milestone. Makes things a little close, but in my mind that means these are not the same question. Jeff Coleman Jan 26 '16 at 5:39 60 million + 12 million + 18million = ~90million60 million - is the Pre-sale.12 million - is the dev fund, 0.2coins per 1 coin sold in the crowdsale.~18 million - 1 million coins mined per month for 18 months prior to going from POW to POS. Update #1: 91,018,773.78 (April 25, 2017). After a while, 15,626,576 ether won't represent much of the total ether available, making the system dis-inflationary (i.e., inflation perpetually trending towards 0 but never reaching it). is there inflation after all coins are mined? Patoshi Feb 2 '16 at 20:55 @duckx i dont think, because the value will be high and it will keep increasing hopefully niksmac Feb 3 '16 at 2:34 @NikhilM we've seen this story before: if it doesn't take much Ether to actually create a contract then absent other drivers for demand the value will plummet. The rallies are driven purely by the low float, which is great for perception, but one must look at the risk factors for both the economics and their associated investment. Cryptocurrencies make this difficult due to the need to own them as an asset thereby Continue reading >>
Ethereum's Creator Mulls Limiting Supply In Novel Ways
Ethereum's Creator Mulls Limiting Supply In Novel Ways While the ICO craze has got out of control in 2017, the two leading cryptocurrencies Bitcoin and Ethereum have gone from strength to strength. Weve seen frequent gut-wrenching (for bulls) drawdowns, wallet freezings (Ethereum several days ago see here ), exchange closures (China) and high-profile criticism from speakers engaging forked-tongues (Jamie Dimon's famous fraud comments, etc). Nonetheless, like fledglings learning to leave the nest, a broad swathe of opinion senses that there is progress. Like the early days of the internet, investors will suffer losses on those ICOs which were poorly planned and/or poorly executed which might be most of them. As this process unfolds, however, the better cryptocurrencies will be tweaked, refined and sometimes forked to make them better suited to a range of decentralised applications which are, themselves in state of flux. Talking of tweaks, the co-founder of Ethereum, Vitalik Buterin, is mulling one for Ethereum which might happen before the end of 2017. Watching the firehose of ICOs, Buterin has been asking himself whether, with Ethereum (ether), hes creating too much of a good thing. According to Bloomberg . The 23-year-old helped sell one of the first digital currencies in 2014 when he introduced ether to the public. Three years later hes witnessed scads of other digital currencies raise more than $3 billion in 2017 via so-called initial coin offerings. The sheer number of coins now being created has made him ponder the previously imponderable: limiting the supply of ether. Im concerned a lot of these token models arent going to be sustainable, Buterin said in a rare interview last week at the Ethereum Developers Conference in Cancun, Mexico. So whats the problem? Ther Continue reading >>
Should Ether Keep Without A Limited Supply Or Not?
Does Vitalik Buterin, Ethereums Blockchain creator, regret about not limiting Ethers supply? Accordig to Bloomberg, he may have created too much of a good thing. Vitalik Buterin has created Ether, in 2014 when he was just twenty years old. Three years later and with the ICO market expanding, he asks himself if he should have limited Ethers supply. Just in 2017, ICOs raised more than $3 billion dollars, but not all of them could succeed . I am concerned a lot of these token models are not going to be sustainable, said Buterin in an interview in the Ethereum Developers Conference in Mexico. Bitcoin has a supply limit of 21 million coins, but Ether does not have the same limit. Vitalik Buterin is not thinking about limiting Ethers supply in the same way as Bitcoin. The idea that this young developer has, is to impose fees on applications built atop Ethereum. If the token is being burned, then you have an economic model that says that the value of the token is the net present value of basically all future burnings, he commented. But otherwise, it is just a currency that goes up and down. It feels kind of like voodoo economics and the price of the token isnt really backed by anything. That is a very spooky thing, he said. The intention, and what Ethereum team is looking for, is to introduce some kind of fees that would allow the token to be destroyed. Though, this is not the only single way to limit its supply. For example, another way could be locking some ether in circulation. This is known as proof-of-stake (PoS). PoS means that miners can only mine a percentage of blocks equal to the percentage of Ether they own. In this case, if one miner owns 1 percent of the Ether in the market, it will be able to mine only 1 percent of the blocks. And Buterin does believe that Proof Continue reading >>
$16,000 And Up: Bitcoin Price Hits New All-time High, Is There A Limit?
$16,000 and Climbing: Bitcoin Price Achieves New All-Time High, is There a Limit? Join our community of 10 000 traders on Hacked.com for just $39 per month. The global average bitcoin price across major markets including the US, Japan, South Korea, and Europe has surpassed $16,000, peaking at $16,422. Within the past 24 hours, the price of bitcoin has recorded an increase of nearly 30 percent, outperforming all of the top ten cryptocurrencies in the market, including Ethereum, Bitcoin Cash, and Litecoin. $10,000, the Psychological Level Passed, Anything is Possible? George Kikvadze, a highly regarded bitcoin investor and vice chairman at leading bitcoin mining firm Bitfury, stated that the $10,000 mark was the psychological level for the majority of investors and traders in the bitcoin market. Once the price of bitcoin breached $10,000, it skyrocketed to $15,000 within a period of several days, and according to Kikvadze, anything is possible beyond $10,000. What a momentum. Buying up more at $13,000. As I said $10,000 psychological level was passed. Now anything is possible, said Kikvadze. Over the next few weeks, especially through the launch dates of CBOE and CMEs bitcoin futures exchanges and the holidays, the price of bitcoin will likely continue to surge. As the two largest options exchange in the global finance market, the entrance of CBOE and CME into the bitcoin market is expected to result in the flow of tens of billions of dollars into bitcoin in the short-term. Peter Brandt, a prominent trader and author, emphasized that given that an interim target at $14,800 has already been met, the price of bitcoin will likely surge to $18,800 in the near future. Earlier this week, Brandt said that the price of bitcoin is expected to surpass $18,000 in 2018. In response, Continue reading >>
Ethereum Has Reached Peak Limit - Ethereum
One thing Vitalik has always addressed is the current issues with Ethereum. If one DApp can become popular this quickly and contests the network, I am confident that devs are working to increase capacity. If anything this is a good sign. Crypto Kitties will be the first DApp that utilized such a large part. Imagine something that attracts a larger demographic. Expect more and more dapps to be released over the next few months. These are just growing pains, IMO. Bullish. Hear hear. IMO Ethereum is doing so much better at handling the traffic compared to Bitcoin, while keeping its lower fees even with high amount of gas. By leaps and bounds. I think this presents the urgency needed for a faster solution than what's currently planned. And I have all the faith the devs will make it happen. When I sent my BTC with a higher fee, I could be sure the transaction completed in a reasonable amount of time. Right now with ETH, it doesn't seem to matter at all what fee I chose, the tx doesn't broadcast at all. I dont think it is. I think its reqsonable for Ethereum to be valued the way it is because of security issues relating to it being Turing complete, but Im not really qualified to make a meaningful assessment either way. Ask a qualified programmer who isnt invested in Ethereum to see if they think the ability to implement a trade that calls itself recursively is a good idea. Can you please explain a bit about these security issues and what they have to do with Turing complete and recursive? I'm a noob who doesn't know anything about this. eli5? Do we need to be worried? Isn't btc the same or worse since it's older? As I said before I'm not a programmer and I don't know exactly how it works but bitcoin had its turing-completeness disabled a long time ago as a security decision. Continue reading >>
Ethereum Price Can Reach $2,000 If This Happens
Ethereum Price Can Reach $2,000 If This Happens When Ether reaches a price of $2,000, we are looking at a market capitalization of around $188 bln. When Ether reaches a price of $2,000 , we are looking at a market capitalization of around $188 bln. Although this is significantly higher than today, an eight-time increase, it is still relatively small if we compare it to the market capitalization of a company like Facebook, $492 bln. Cointelegraph attempts to analyze what events need to occur in order for Ether to break this mark . Currently, the Ethereum network is limited to around 20 transactions per second. This is twice as much as Bitcoin can handle. However, if we are looking at a future where Ethereum is used as a daily form of payment , this isnt enough. The Raiden Network is aiming to solve this problem. Its developers are building an off-chain solution for Ethereum payments which scales linearly with the number of participants. The network could in the future handle over 1,000,000 transactions per second. Additionally, it will allow decreasing transaction cost by seven orders of magnitude, making true micro-transactions on Ethereum a reality. Ether becomes easier to acquire and spend So far there are around 60 active cryptocurrency exchanges. This number is growing every single month as digital assets become more and more attractive. However, the average American is not comfortable with buy and sell limits and trading charts. Therefore, new alternatives need to arise that allow the crowd to acquire Ether. Companies like Dether are working on platforms that allow interested parties to purchase Ether directly with cash. This is definitely a big step in the right direction. At the time Im writing this article, the market capitalization of all cryptocurrencies comb Continue reading >>
Is There A Limit To The Supply Of Ethereum?
Is there a limit to the supply of Ethereum? Quote from Vitalik Buterin, Ethereum Foundation: So here is a thought. Currently, because of the PoW ice age, the block time is scheduled to start increasing in mid-2017, and past around 2019 the increase is going to grow exponentially. The mining reward does NOT increase proportionately. Hence, there is already an exponential slowdown in the growth of the ETH supply built into the protocol; my script shows: Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86 Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27 Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01 Block 4500000, approx ETH supply 95912556, time '2018-11-03 05:55:48.912370' blocktime 136.71 Block 5000000, approx ETH supply 98562556, time '2025-10-02 11:47:30.658317' blocktime 835.81 Block 5500000, approx ETH supply 101212556, time '2128-03-20 09:14:16.483692' blocktime 17183.83 Block 6000000, approx ETH supply 103862556, time '5189-09-26 20:57:59.367004' blocktime 520901.19 Hence, in the foreseeable future, the supply will not go far above 100 million. Ice age is a term used to describe the difficulty increase in the network(also called difficulty bomb). With time the mining difficulty increases exponentially and will bring the network to a halt. The idea behind this is to motivate the developers to move to Proof of Stake and give them a time limit to implement the new protocol before the network stops. Slower network = longer block times = less ETH rewards Continue reading >>