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What is Ethereum?


Buy Ethereum at RockItCoin Bitcoin ATMs

Ethereum is a decentralized blockchain platform that allows users to build and run applications. ‘Ether’ is the name of the native token used on the Ethereum network. The ether cryptocurrency is abbreviated as ETH and represented by the symbol Ξ.

The Origins of Ethereum

The concept of Ethereum as a platform was first proposed in a 2013 white paper by Vitalik Buterin, a 17-year-old computer programmer. Following a period of online crowdfunding in 2014, the platform was developed and launched in July 2015. The platform kicked off with 72 million pre-mined ether coins, sold at a fixed price during the first two weeks.

How Does Ethereum Work?

On the Ethereum network, ether coins are the ‘fuel’ that keeps the system moving. Not only are ether coins awarded to those who maintain the blockchain, the currency is also needed to perform actions on the platform. As part of the underlying program rules, the network requires that native applications pay in ether for every operation. This accountability is meant to help prevent malicious programs from taking root on the platform.

The platform is supported by a global network of ‘nodes,’ or volunteer users who download and run the Ethereum blockchain from their computers. Similar to the role Bitcoin miners play in maintaining the Bitcoin network, Ethereum volunteers work to enforce all of the consensus rules of the system and receive ether rewards in exchange.

Where Can I Buy Ethereum?

If you’re looking for an easy way to buy Ethereum with a credit card, you’ve come to the right place. Ethereum’s signature cryptocurrency, ether, can be purchased on our website or in-person at any of our crypto ATMs using cash.

To get started, you’ll need to have a secure digital wallet where you can store your cryptocurrency. The RockItCoin Digital Wallet is a great option for newcomers and experienced users alike, available for both iPhone and Android devices.

Buy Ethereum in Bulk With RockItCoin

Our over-the-counter (OTC) services allow users to purchase, sell, or trade more than $10,000 in crypto hassle-free. If you’re looking for comprehensive OTC ethereum services, our team can help facilitate your transaction with one-on-one support. Those who trade ethereum OTC with RockItCoin benefit from our large portfolio, fast settlements, and increased savings on bulk transactions.

We’re Here to Help

Need some help getting going with your first transaction? We have step-by-step instructions that explain how to set up the application. Explore our website or reach out to us today for more information on our wallet, ATMs, or OTC ethereum services. Our customer support team is available via email, text, or phone.