Topic: What is that? - page 2. (Read 242 times)

Ethereum's cretor is Vitalik Buterin, a russian programmer who developed smart contacts. These contracts is what Ethereum is famous for and so widely used as a platform.

Vitalik Buterin is the creator of ETH also the need for ALT coins are because BTC is expensive so that's my opinion

Ethereum are created in the crypto world for the ICO can use this for transactions in an exchanges. This ethereum is being used as payment to any altcoins and tokens given by the ICO as a reward. After selling your altcoins and you have already an ethereum, then you can convert it to bitcoin and then from bitcoin to cash. That is how i understand the ethereum process.

Companies were making their own coins even before bitcoin. They weren't mineable  crypto coins but they were still coins. The most common example is your Steam balance. You can't convert your steam balance directly to USD (1:1) but you can do it if you sell your account to some other people. (He'll probably pay less than what you have in your balance)

Paypal balance is the same.

Now every company like these I mentioned have a chance to print their own coins. They can adjust the specs according to their needs. (Mineable? Pegged to USD? Premined?)

Imagine Pepsi Cola prints its own coins and sells its product for 5 Pepsi Coins and nothing else. What would be the price of a 1 Pepsi Coin? *0.2 Pepsi Cola *

More coins isn't something you should be scared of. Bitcoin is the king and any altcoin you see is backed by Bitcoin at this point. Why? Because when bitcoin goes down, they go down. Everybody who hold altcoins/mine altcoins do expect to get more bitcoins in return.

Some of them are ambitious and want to make a name for themselves by creating their own coin. Rest of them are just trying to make money quickly.

You want to know about the answer of your question? the answer is because they want to earn money quickly.

   If you wish to properly gather information's you need to read more and more. There are
many threads here of forum where you can read about interesting things in crypto-world.
   Siddhartha1492 gave you simple explanation about how Ethereum works as a
platform for creating new tokens. Why there are so many of them can also be explained by
a need for coins cause there will be just 21 million Bitcoins, that is not enough for the world.
In that need for more coins platforms like Ethereum gave us smart contracts, now companies
can have their own coin for their own business.
   If you really wish to help yourself and learn more about crypto- currencies I suggest you to visit
their official sites and read there what they do and what they plan, only after come here and check
are other people support that and how they look at that project. It is good to know what community
thinks and to check some expert insights.

Thanks for giving very helful advised, yes I want to gathered more and more information about the crypto world that is why I made this thread to gathered information to help my self.

Thanks for that great information, I'm curious on the purpose of ethereum and why ethereum  created. Many people here in the crypto world  said that they got rich because of altcoins or ethereum in many ways like, trading and a like, ethereum is great so, we must to know who is the creator of ethereum to acknowledged him to our success.

First of all I think Bitcoin is not the mother of all coins, it is more like the King of all coins. It heavily impacts the prices of other coins.
 
Secondly the reason there are so many coins, is simply because it is much more easier to create them compared to the early days of crypto. Specifically Ethereum has facilitated this growth and now basically anyone with some blockchain and IT knowledge can create their own tokens. And some tools make it even more easier.

Vitalik Buterin is the creator of Ethereum. He used to be active on Bitcointalk also, but that is few years ago. As per him he decided to co-create Ethereum after World of Warcraft (a game) took some abilities from his game character. He basically wanted to create a more decentralized  environment, where the rules can't be changed just whenever the creator wants to.
In simple words, Bitcoin only enabled the transfer of funds and Ethereum enabled the transfer of smart contracts along with funds. This basically meant that you can create complex applications on top of thereum which can't be controlled by 1 single entity. These are now known as Dapps that is decentralized apps. Some popular Dapps are cryptokitties, Cent, Lunyr etc.

Since you are new, I explained in very simple terms, but you can always research more if you want to increase your knowledge. It might seem very very complex at first, but you start getting it after consistent efforts. Good luck!

The only reason why people create coins is because bitcoin today has the most expensive pricing in the cryptomarket since Bitcoin is mother of all cryptocurrencies. For Ethereum on the other side is the close sister of Bitcoin since it is more efficient in transaction speeds and blockchain management.

ETH is block chain 2.0, which creates smart contracts, and smart contracts are a good application of blockchain.
Other altcoins now look more like hype than anything else.

Bitcoin is important because it was the first widely distributed cryptocurrency and most exchanges use it as the base currency for their exchange.
Founder of ethereum foundation is Vitalik Buterin. You can easily find lots of information about him by simply googling his name.

As being new here in the world of crypto I want to ask something.  We all knows that the great crypto now a days is bitcoin but my question is if bitcoin is the mother of all coins, do you think what is the reason why many people in the world make thier own coins and now there are many altcoin?

Anyone knows who is the creator of ethereum and what is the purpose of ethereum in the crypto world?