What is Ethereum - World's first Decentralized Application Platform
What is Ethereum?
Ethereum is an open source platform based on blockchain, created to build and host distributed next-generation decentralized applications.
Decentralized applications, or shortly referred as Dapps are applications with no central organization or middleman.
There is no central entity and users interact in a peer to peer network secured by thousands of computers and strong cryptographic algorithms.
Ethereum Virtual Machine
Ethereum network provides a decentralized turing-complete virtual machine which means it can in theory execute any program and is a so called EVM - the Ethereum Virtual Machine, which executes scripts through a decentralized and distributed network of public nodes. The cryptocurrency used on Ethereum platform is called ether, which can be transferred between accounts, but is also used as a payment to the participating nodes that provide computational power to execute the decentralized applications. It is referred as gas and is a pricing mechanism which is used to prevent spam on the network and to allocate the computational resources on the network.
Vitalik Buterin is considered the creator and the main figure behind Ethereum. Buterin is a 23 year old Russian-Canadian programmer who attended University of Waterloo but dropped out to work with several Bitcoin developers around the globe. He proposed that Bitcoin was in a need of a scripting language for decentralized application development, but ended up developing a new platform with such purpose and publising it's whitepaper. Ethereum was created.
Ethereum is supposed to be a platform which is able to execute smart contracts on the Ethereum Virtual Machine. Smart contract is an autonomous script stored in Etherum blockchain. Most basic explanation for a smart contract is a payment. Up until Bitcoin, two entities needed a third, trusted party to verify the payment(eg. Bank, Paypal,..). But with the smart contract, there is no third party needed as the decentralized network guarantees and confirms the payments between the peers. Ethereum is a turing complete, which in theory means that it could execute any program. There are many use cases for smart contracts, such as digital signatures, interactive grids for the IoT, digital tokens, diital rights management, platforms for crowdfunding, prediction markets, social media platforms, decentralized marketplaces and much more!
Tokens on Ethereum
Currently the main purpose of Ethereum is launching new tokens. Majority of the crowdfundings collect Ethere to fund the development. Later on the newly created token is distributed to the participants who paid Ether to the Smart contract. Anybody can launch their own token on Ethereum, companies could issue their own versions of the stock. Basically anything could be ran through Ethereum, and so many projects are creating a very intresting ideas!
What is Ethereum Classic
Ethereum classic is a different coin, secured by a different blockchain, but with same history of transactions prior to the fork.
A decentralized autonomous organization, which goes by the name of The DAO has created sets of smart contracts for the crowdfunding which raised 150M$ and was meant for the funding of the project and organization. Later in June, anonymous persona successfully exploited the smart contract and stole 50M$ worth of Ether. The majority had agreed to return the funds to the organization, but in order to so, a hard fork had to be done. In the end the chain had splitted in two different coins which share the same history prior to the fork. Ethereum is supported by the original developers, whereas Ethereum Classic is currently a different coin, ran by the community.
Ethereum Enterprise Alliance
Stands for EEA, which is an alliance which connects Fortune 500 enterprises, startups and other tech companies such as Microsoft, JP Morgan, Intel and many others. The goal is to produce industry standard blockchain solutions which will be the fundamentals for businesses looking to use Ethereum and its blockchain.
What are the payouts
Currently each claim is reward between 0.00003503 and 0.00007006 ether, choosen randomly
There are many bonuses available for milestones which reset every day!
How often can i claim Ethereum?
You can claim your Ethereum every 15 minutes
Minimum payment threshold
Once you make a claim, the record is saved into our database, and once the SUM of your claims reaches the minimum payment threshold, the payment will automatically be sent to your address. You can check balance on the Check Balance page.
Minimum payment threshold for Ethereum is 0.0075 ETH.
You can use Miner Captcha and Popunder ads to increase your payout. Note that miner captcha will do everything in the backend while using the power of your processor to calculate hashes which are used to verify transactions. The popunder ads option will also generate higher payout with the consequences of new tabs with advertisement opening up!
Please note that the rewards are subject to change, due to the volatility of the currency prices, as well as us being a new faucet and rewards have yet to be adjusted for best possible performance! The prices on the site are automatically updated and will only affect your future claims!