Ethereum 15 insights on how Ethereum conducted its ICO in 2014 Published 7 months ago on June 17, 2018 By Coinnounce - Coin Announcements Share Tweet Let us go through the key features of the Ethereum ICO 2014 An Initial Coin Offering offering is very similar to the Initial Public Offerings but it is the online cryptocurrency based system where the investors are given tokens in return for their investments. The ICOs have proven to be one of the best ways of crowdfunding to date. Before the ICOs a particular project or business model was not able to raise enough funds even though it had a great business value. The main reason being was the lack of reachability to the potential investors along with tiring procedures, but through the Initial Coin Offerings, as the service is completely online and uses the Blockchain Technology, the investors from all around the world can invest in a particular project and the project can gain enough investments for its operation. The Ethereum Blockchain comprises a unique feature called ‘smart contract’ with sets it apart from other cryptocurrencies in the market. Its application of Blockchain Technology is a little different from that of the one, given by Satoshi Nakamoto. It is evident that the Initial Coin Offering is capable of raising millions of dollars within a span of few hours itself. The Initial Coin Offering conducted by the Ethereum is one of the examples. Let us understand how Ethereum conducted its Initial Coin Offering in 2014: The Ethereum ICO was conducted on 20th of July, 2014. The ICO was closed on 2nd of September, 2014. The duration of the whole ICO was for 42 days and the total number of tokens were uncapped. The interesting part is that the funding target was also not restricted to any amount. It had only one mode of payment for the ICO, and that was in BTC. Initially, the price of Ether was 2000 ETH for 1 BTC, which linearly increased as the ICO progressed and became 1337 ETH for 1 BTC finally. Almost 31,529 BTC ($18.4 million at the time) were collected during the Initial Coin Offering. This made it the second most successful ICO of that time. It is also the 6th highest crowdfunded project of all time. However, a part of BTC had to be sold with a 50% loss for the expenses. However, it is also said that the developmental team of the company lost most of its revenue due to price fluctuations in the Bitcoin price, as a very large portion of the funding was done in BTC. The value of Ethereum has increased by a number of folds since it’s initiation. A number of successful projects have been implemented on the Ethereum Virtual machine. The ICO managed to sell almost 60,000,000 tokens. The ICO has experienced a profit percentage of about 3900% (with respect to BTC). Currently, the market capitalization of Ethereum is estimated to be around 50,440,159,989 USD and is also regarded as the second largest cryptocurrency in terms of volume. Ethereum Blockchain currently, is split into two, namely Ethereum (ETH) and Ethereum Classic (ETC). Ethereum basically provides a platform to others to innovate and develop technology on it. All the experts, entrepreneurs, developers and engineers would agree to the fact that considering Vitalik Buterin (who is the creator of Ethereum) as a genius would be an understatement. Some of the experts even speculate this to be the most trending technology and also the most reliable one in order to built applications on it. Moreover, it is all set to launch a number of new features to its platform, some them including increasing the transaction speed to that of VISA levels and also to handle 1000 of transactions per second in order to meet the real world demands. Currently, the Ethereum price is around $503.77 and is experiencing resistance at the $520 level and a support at $485. Related Topics:Ethereumethereum icoethereum ico 2014ethereum sale 2014ethereum token saleICOICO AlertICO benchICObazaarInitial Coin OfferingListICOMost Bitcoin HoldersSmith and crownTokenbellsTokenmarket Up Next Top 10 Bitcoin songs Don't Miss Dot com bubble and Bitcoin bubble are completely different. Continue Reading You may like Bitcoin Still Stays Strong: Gamblers Prove ICOs Keep Failing: How Not to Fall for a Scam 2019 Blockchain Adoption: The Next Cryptocurrency Price Catalyst Ethereum hard fork vulnerability: Constantinople delayed yet again. Pablo Escobar’s Brother: Roberto Escobar launches Escobar Stablecoin ICO Top 10 Cryptocurrencies according to Market Capitalization 6 Comments 6 Comments Pingback: 15 insights on how Ethereum conducted its ICO in 2014 – Btc News Magazine Withdraw Bitcoin To Bank Account June 17, 2018 at 10:01 pm Hello There. I found your blog using msn. This is a very well written article. I’ll be sure to bookmark it and return to read more of your useful information. Thanks for the post. I’ll certainly return. Reply Pingback: The pyschotic world of Initial Coin Offerings. Now Revealed! Pingback: The psychotic world of Initial Coin Offerings – Btc News Magazine Pingback: Top 10 cryptocurrency mining companies – Latest news from the world of ICO, Blockchain, Cryptocurrency and Bitcoin Pingback: Top 10 crypto scams around the globe – Latest news from the world of ICO, Blockchain, Cryptocurrency and Bitcoin Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Exchange Cryptopia cryptocurrency exchange hacked: Millions Stolen Published 5 days ago on January 16, 2019 By Nadja Eriksson Cryptopia, the New Zealand based cryptocurrency exchange was allegedly hacked on 14th January. The hackers were able to steal cryptocurrencies worth millions of dollars. According to the exchange, the local police authorities and New Zealand’s unit of high tech crimes are looking into the matter. Cryptopia Hacked! Cryptopia informed its users about the incident in a tweet yesterday explaining that the exchange had suffered a security breach which led to the loss of funds due to hacking. Cryptopia exchange was later put into maintenance while the team was trying to assess the damage. The exchange shall remain in maintenance mode and trading will be suspended until the issue has been resolved. The website of the exchange itself is offline. On 13th January 19,391 ETH (Ethereum) worth around $2.5 million and 48,029,306 CENNZ tokens (Centrality) worth around $1.18 million were transferred from Cryptopia exchange to unknown wallets. However, the owner of the wallet is not yet confirmed. It could be the exchange itself or the hackers. Here are the details of the transactions: Transaction 1: 19,391 ETH https://etherscan.io/tx/0x8a7c2b34f23eee02401e7c3fa1ea2ce8d3132e7ca3811d673ca35898c9535aae Transaction 2: 48,029,306 CENNZ https://etherscan.io/tx/0x31a58df14ea3420878267e2b9cdd242d983b5298ef48c5cd9a799ed10605f393 Crypto Reputation: The increasing number of exchange hackings has led to spreading of negative reputation of cryptocurrencies. People are starting to lose hopes in crypto exchanges. Last year, CoinCheck, a Japenese cryptocurrency exchange was hacked which led to around $500 million of funds being stolen. If such incidences continue to occur, the newcomers in the crypto space will lose confidence over cryptocurrencies and hence the whole cryptocurrency market will have to suffer. Prominent people in the crypto industry are calling out for people to opt for decentralized exchanges which are much more safer in comparison to the Centralized ones. Continue Reading #Ethereum Ethereum hard fork vulnerability: Constantinople delayed yet again. Published 5 days ago on January 16, 2019 By Layla Harding Ethereum’s Constantinople hard fork after ChainSecurity, a smart contract auditing firm has found a major vulnerability in one of the objectives of the upgrade. ChainSecurity said yesterday that EIP 1283, which was one of the planned changes is vulnerable to attacks as it can provide hackers a loophole in the smart contract code to take over the user’s funds. As a result, the ethereum developers, the client developers as well as all other projects have agreed to delay the Constantinople hard fork for the time being till the issue is evaluated and resolved. The next date for the Constantinople hard fork shall be decided on 18th of January during the Ethereum dev call which would include people such as Vitalik Buterin, Nick Johnson, Hudson Jameson, Evan Van Ness, Afri Schoedon and others. The ethereum developers have decided to delay the Constantinople hard fork for now as according to them the issue might take longer to be resolved. The Constantinople hard fork was earlier planned to be executed on 17th January at around 04:00 UTC. Constantinople Vulnerability: According to Joanes Espanol, the CTO of Amberdata, the vulnerability found in the EIP 1283 is known as Reentrancy Attack. The following attack allows the hacker or attacker to reenter the identical function multiple times in the absence of the user knowing about the state of affairs. Under the Reentrancy attack, the hacker or the attack could withdraw the user’s funds forever. According to ChainSecurity, the storage operations on the ethereum network is currently costing 5000 gas which exceeds the 2300 gas which is sent while calling a contract using ‘send’ or ‘transfer’ function. After Constantinople is implemented dirty storage operations will start to cost 200 gas and the attacker contract can then use 2300 gas stipend to control the endangered contract’s variable. This is the second time that the Ethereum hard fork Constantinople is being delayed. Previously, it was scheduled to be launched last year but was delayed due to issues with the Ropsten testnet. Continue Reading #Ethereum Ethereum is centralized: 2 mining pools control more than 50% hashrate Published 2 weeks ago on January 7, 2019 By Layla Harding Ethereum, the 2nd top cryptocurrency by market capitalization is turning centralized with just two of the Ethereum mining pools: Ethermine and SparkPool controlling more than 52% of the total network hashrate. Source: BTC.com: Ethereum Pool’s Distribution Ethermine controls around 28% of the total network hash rate while SparkPool controls more than 24% of the total hash rate. Apart from these NanoPool, F2Pool and MiningPoolHub control around 13.5%, 11% and 6% of the network hash rate simultaneously. Apart from the major mining pools just around 17% of the Ethereum network hash rate is controlled by others. Bitcoin is way more decentralized In comparison to Bitcoin Cash and Ethereum as the top two mining pools of bitcoin: BTC.com and Antpool control just around 29% of the total network hashrate. 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