What is Ethereum or ETH?

Ethereum is a decentralized global software platform powered by blockchain technology. It is most commonly known for its native cryptocurrency, ether (ETH). It has been created in 2015 by the programmer Vitalik Buterin. ETH is currently the second-largest crypto by market capitalization.

The founders of Ethereum were among the first to consider the full potential of blockchain technology beyond just enabling the secure virtual payment method. Since the launch of Ethereum, ether as a cryptocurrency has risen to become the second-largest cryptocurrency by market value. It is outranked only by Bitcoin.

Anyone can use ETH to build secure digital technology. There are tokens designed to pay for work that supports the Blockchain, and participants can also use them to pay for tangible goods and services if accepted. Ethereum is designed to be scalable, programmable, secure and decentralized. It is an alternative blockchain for developers and enterprises creating technology based upon it to change how many industries operate and how we go about our daily lives.

The Ethereum blockchain differs from the Bitcoin blockchain. It allows users to build decentralized applications (DApps) that run on their own, like a decentralized computing platform.

Ethereum is often compared to Bitcoin. Founders and developers describe Ethereum as the world’s programmable blockchain, positioning itself as an electronic, programmable network with many applications. The Bitcoin blockchain, by contrast, was created only to support the bitcoin cryptocurrency.

5 things to know about Ethereum

What is Eth 2.0?

The Ethereum Merge

Update all you need to know about cryptocurrencies and regulations with Scorechain!

About Scorechain

Scorechain is a Risk-AML software provider for cryptocurrencies and digital assets. As a leader in crypto compliance, the Luxembourgish company has helped over 200 customers in 40 countries since 2015, ranging from cryptocurrency businesses to financial institutions with crypto trading, custody branch, digital assets, customers onboarding, audit and law firms, and some LEAs.

Scorechain solution supports Bitcoin analytics with Lightning Network detection, Ethereum analytics with all ERC20 tokens and stablecoins, Litecoin, Bitcoin Cash, Dash, XRP Ledger, Tezos, and Tron with TRC10 and TRC20 tokens. The software can de-anonymize the Blockchain data and connect with sanction lists to provide risk scoring on digital assets, transactions, addresses, and entities. The risk assessment methodology applied by Scorechain has been verified and can be fully customizable to fit all jurisdictions. 300+ risk-AML scenarios are provided to its customers with a wide range of risk indicators so businesses under the scope of the crypto regulation can report suspicious activity to authorities with enhanced due diligence.