Founded in 2014 by Vitalik Buterin, Ethereum is a fully autonomous and decentralized blockchain-based platform that allows users to build decentralized applications (DApp) through smart contracts. Ethereum smart contracts are computer codes that allow the exchange of funds, assets, and property without a third-party intermediary; eliminating the potential of fraud and censorship. Since the Ethereum network is run on distributed “nodes” across the globe, the network is always online. This eliminates the possibility of downtime and ensures that transactions on the network are immutable.
The cryptocurrency used to compensate the nodes for maintaining the Ethereum network is the “Ether” token, which can also be used for peer-to-peer transactions and payments.
- Data, transactions, and coding on the network are immutable.
- No downtime or censorship on the network.
- Main platform for many ICO developments.
- Minable (miners rewarded with ether).
- Uses in-house programming language (Solidity) for dApp development
Where/How to buy:
Ethereum can be purchased with CAD and/or other supported cryptocurrencies on our exchange. Refer to the Getting Started section to learn more about buying and selling cryptocurrencies on the NDAX platform.
Ethereum can be stored on our exchange and on several wallets, including the Ledger Nano S, Trezor, MyEtherWallet, Jaxx, and Exodus.