Ethereum is a network of computers that runs the same software, but on a wider scale. It was created by Vitalik Buterin in 2014 and went live in 2015, with the ICO occurring later that year. This year has been a huge one for Ethereum, with its price breaking through $1000 for the first time ever.
How do people use it?
The users of Ethereum are known as “miners” – these individuals provide computational power to help verify transactions made on the blockchain and add them to the chain themselves. In return for their work they receive newly-created ERC20 tokens which can be sold, deposited in an exchange or used to purchase goods and services. As more miners join this process at any given time, demand increases and so in turn so does value: in early 2018 alone there were 200 new Ethereum Miners listed every single day. It continues at this rate today and across 2019 supplies will reportedly hit 71280 per day; around 1500 times greater than 2017 saw! The number may continue growing even further considering how fast network capacity grows (recently hitting 33000). Aside from forecasting future supply Digix Global (DGX) too has predicted that demand will also increase at such a torrid pace making prices likely to soar once again if we reach close to 5x what we achieved thanks to all our hard work ^^ — DigixGlobal (@DigixGlobal) January 5, 2019