Ethereum: The Catalyst for Crypto Development (6.2 Crypto Foundation)

[00:02] Hello In the next lesson today we will talk about ether It seems to be ethereum, but we just call it ether, as everyone knows, b2c was the first cryptocurrency It was the second and again, it is believed that everything started with Bitcoin,

[00:15] Bitcoin began and then other cryptocurrencies began to appear But everything is not quite so, everything started, I would still say not with Bitcoin, but with ether, Bitcoin began

[00:28] But it was ether It gave a huge impetus What is the difference I will again draw strange squares Bitcoin cryptocurrency The first cryptocurrency that

[00:40] was created on the basis of the blockchain, that is, the Bitcoin cryptocurrency The blockchain is also called Bitcoin, that is, there is a cryptocurrency Bitcoin, there is a

[00:52] Bitcoin blockchain and it is all connected That is, if you, for example, look at this matter and think I want to create my own cryptocurrency, accordingly, the idea appears that you need to create your own blockchain That is, you again do,

[01:06] create a blockchain and all this under your coin and issue it This is how it basically looked at that moment But ether came and

[01:20] changed all the rules of the game They created a blockchain but allowed not only their token to live in it but also other tokens That is, I didn’t just

[01:32] draw these closed ones for no reason That is, only Bitcoin can exist on the Bitcoin blockchain. only Bitcoin can exist on the Bitcoin blockchain. to create other tokens on the Ethereum blockchain, and this was a real breakthrough.

[01:47] Ethereum blockchain, and this was a real breakthrough. This happened not so long ago. It literally happened. It was launched on 30, 2015, just 7 years ago. That is, if just 7 years ago. That is, if Bitcoin appeared in 2008, then Ethereum

[02:02] appeared only in 2015. A cryptocurrency and a platform for creating decentralized online services. Look, Ethereum was initially created not so much as a payment system as a base. For the accessible implementation of

[02:16] blockchain technology, third-party projects did it, and what's interesting is that the blockchain itself was first created. The one we know appeared in 2008 along with Bitcoin. But in fact, it was first described either in 1991 or

[02:32] 1992. That is, the idea is not new, but the implementation is. And then various cryptocurrencies began to appear simply like mushrooms after the rain. All these simply like mushrooms after the rain. All these tokens that were discovered, if we

[02:47] look at what has been done on the Bitcoin blockchain, we will see one line: Bitcoin blockchain Bitcoin works on the Ethereum blockchain. There's a large list in use. Ethereum blockchain. There's a large list in use. Look at the

[03:05] 282 tokens that CoinMarketCap knows about. And that's quite a lot. Ethereum is giving it such growth. Let's look at Bitcoin's dominance, which is around 40 percent, and Ethereum's dominance is 17 percent. That

[03:23] almost half that of Bitcoin's. This is quite impressive. Why is this happening? Look, there are a lot of different cryptocurrencies created on Ethereum.

[03:35] For example, there's the palay token. I don't know what kind of token it is. Well, let's say it's made for some project. It has a market cap of 136 million. It's needed for some reason. It works. There's a

[03:51] token that might not be particularly needed. They're both created on the Ethereum blockchain. Look what happens when a token created by Ethereum starts to rise. That is, the technology for which it was created has really gone

[04:06] up. People have started investing in it, and the market cap has started to increase. This all pushes Ethereum upward. The leader is called a strong fundamental. If we open any of these tokens, Here, by chance, I just want to show you again

[04:22] what they actually did on Ethereum. We see an Ethereum smart contract. Here we have it right away. You see, it's all done on Ethereum. Let's move on. Here it is made

[04:34] on Ethereum. If we open it, it is made on a testing ground. That is, there are tokens that work on some blockchains. That is, not only on one, but nevertheless, it does n't work on Ethereum either. When Ethereum appeared, there were no other blockchains. There was no

[04:47] Bitcoin. It was impossible to create anything with Bitcoin. You see, you can see what else works on, like CHR or Dia. I discovered them just by chance. When those tokens made on

[05:02] Ethereum are transferred from place to place, the commission is paid in Ethereum tokens. The more transactions occur, the more Ethereum earns. That is, Ethereum is needed, it is both a blockchain and a cryptocurrency, which is needed to support these

[05:18] transactions. For the commission on these transactions, the film also has its downsides, so of course, other blockchains began to appear, but it gave impetus. This is the second lesson in a row I'm talking about blockchains. The first one I generally said what it is.

[05:34] Here I gave an example with Ethereum, and after the first step was taken. When the Ethereum blockchain was created, on which other tokens can be created, which other tokens can be created, other projects picked up on this idea and they

[05:48] began to appear like mushrooms after rain. Currently, there are a rain. Currently, there are a lot of blockchains and new ones are constantly appearing, and catching the currents of promising blockchain based on its development is a great

[06:01] success with this lesson. I will wrap up because in the next module, fundamental analysis, we will already analyze the various types and directions in more detail and we will enter all this into a table to look at and compare.

[06:14] You know, there is an expression about fundamental tokens, that is, a foundation, and the blockchain is the very foundation on which the building is built. I told you about these foundations. And now we can move on. See you in the

[06:29] can move on. See you in the next lesson. Bye