Let's have a basic understanding about Ethereum. What is a Ethereum or ether for short?. From the website "Ethereum is a decentralized platform that run smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstrapped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
Please visit ethereum.org for more details or read Blockchain 101 article.
Please note, this article is in progress and will continue to update 'till I complete my project.
What is the name of the project? It is for "Designing and issuing our own cryptocurrency" called "Yehey". Learning should be fun, so the project name Yehey is appropriate. I will follow the step-by-step procedure here: https://ethereum.org/token
First action is to download the Ethereum Wallet for Mac, install and start downloading blocks of 3,853,756 as of this date June 10, 2017. This will take a while ...
I will go out for dinner with my family and watch a movie while this blocks downloading is in progress. After 6-7 hours, block download is 1,290,000 of 3,849,495.
June 11, 2017. 8:25 am. Another 8 hours passed. Downloading blocks at 2,157,336 of 3,854,733. I guess this will take a little longer than I expected.
Block downloading ... in progress.
Follow my journey at https://que.com/my-journey-to-ethereum-create-your-own-crypto-currency/
If you have any suggestion to make this project a success, please don't hesitate to let me know.
Stay tune!
14 Comments
Bitcoin and other cryptocurrencies are the currencies of the future. Here is a short history of bitcoin and insight into whether or not it is a bubble. https://www.cryptocurrency.lu
ReplyDeleteI think it is very important to look back at the origin of this Bitcoin since people are starting to lose the main idea why it was even introduced on the first place... live coin watch
ReplyDeleteI really want to thank the author for such a nice blog that helped me to understand why it is important. ethash asic miner
ReplyDeleteImpressive and powerful suggestion by the author of this blog are really helpful to me. Bittrex Review 2021
ReplyDeleteYou have done a good job by publishing this article about Cryptocurrency. I appreciate your efforts which you have put into this article, It is a beneficial article for us. Thanks for sharing such informative thoughts.
ReplyDeletelinzhi phoenix
You've provided quite good information here about Antminer L7. This is fantastic since it expands our knowledge and is also beneficial to us. Thank you for sharing this piece of writing.
ReplyDeleteYou have shared a lot of information in this article about canadian bitcoins. I would like to express my gratitude to everyone who contributed to this useful article. Keep posting.
ReplyDeleteVery informative article, which you have shared here about the cryptocurrency. After reading your article I got very much information and it is very useful for us. I am thankful to you for sharing this article here.Online Largest Crypto Trading Website
ReplyDeleteI have read your excellent post. This is a great job. here you can Earn Money From Crypto
ReplyDeleteReally great article and informative. buy crypto on Robinhood
ReplyDeleteI admire this article for the well-researched content and excellent wording. I got so involved in this material that I couldn’t stop reading. I am impressed with your work and skill. Thank you so much. Read more info about forex rebate comparison
ReplyDeleteAmazingly helpful which you have shared here. I am impressed by the details and also it is a significant article for us. Continue imparting this sort of info, Thank you.ZERODHA Trading ACCOUNT
ReplyDeleteYour blog is very valuable which you have shared here about Crypto Miner Supplier In China I appreciate the efforts which you have put into this blog and also it is a gainful blog for us. Thank you for sharing this here.
ReplyDeleteThis comment has been removed by the author.
ReplyDelete