Ethereum Presale Begins

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ForexMinute.com – Much awaited decentralized application software project Ethereum recently began the 42-day presale of its crypto-units ‘Ether’. Buying this presumable cryptocurrency will help users to fund the developments of the Ethereum software platform.

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Quite uniquely, the Ethers are available of a fixed-price (1 BTC will buy 2,000 ETH). The price however is predicted to go down to 1,337 ETH per BTC by the end of the sale. Furthermore, the developers are still waiting to mine the Genesis Block of ethers. When they do so, they will transfer the crypto-units to the presale participants. Until then, ether will not be usable in any way.

The website reads:

“People interested in acquiring ether to build and distribute decentralized applications, or to pay for their usage, are able to do so in the Genesis Sale using bitcoin, thereby locking-in their supply at a known price. This sale will help us fund the continued development of the software platform, scheduled for release in the winter of 2014/2015.”

However, one should not mistake Ether as a usual cryptocurrency that will be pumped-and-dumped on daily basis. Instead it is a “fuel” that will be used only inside the Ethereum’s decentralized development platform. Inside this platform, we will see a mass of ongoing application projects and their implementations, all funded by ether. Not only will this approach untie Ethereum from other coins and fiat currencies, but will also hold the essence of decentralization, which is indeed the foundation of this entire project.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

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