There has recently been some talk and confusion about a cryptocurrency called Ethereum Max. This is reasonable because Ethereum Max shares a name with Ethereum.
However, EthereumMax has no association with Ethereum other than being an ERC-20 token on the Ethereum blockchain.
With that in mind, this article will explain the difference between Ethereum Max and Ethereum.
What is Ethereum Max?
The short of it is that Ethereum Max is a coin launched with the sole purpose of pumping. That is likely why the developers chose the name Ethereum Max – they likely wanted to trick unwitting people into thinking the two cryptocurrencies.
Anyway, the token is an ERC-20 token on Ethereum. It also had no presale or pre-mine for developers. The token was simply sold to the public.
The total supply of tokens is 1 quadrillion tokens, so the denomination of each token can get quite small.
The only really interesting things about Ethereum Max are that the token has a farming element to it and 2% of all transactions are distributed to wallets that hold eMax. The value of the staking rewards on the farm have crashed after the initial hype of the cryptocurrency wore off.
The hype for EthereumMax was quite intense with a few celebrities endorsing the cryptocurrency. Antonio Brown of the Tampa Bay Buccaneers NFL demanded to be paid in Ethereum Max.
Kim Kardashian also posted an Instagram story about Ethereum Max.
Again, Kim Kardashian was certainly paid an inordinate sum of money to post about Ethereum Max. The same likely applies to Antonio Brown along with any other celebrity the marketing team behind Ethereum Max decided to pay.
So yes, Ethereum Max is basically a generic ERC-20 token that has received celebrity endorsements. It has a farming element, but it’s not a project pushing boundaries like OlympusDAO or Magic Internet Money.
It’s Not Ethereum
We also want to reiterate that EthereumMax (eMax) has nothing to do with Ethereum. They are not officially supported by the project. They only exist as an ERC-20 token on the Ethereum blockchain.
Do not get confused by the name of the token.
When was Ethereum Max Launched?
Who are the founders of Ethereum Max?
The founders of Ethereum Max have chosen to remain anonymous. This can be a bad sign for a project that offers staking and farming. Most scam projects are founded by anonymous developers.
Is Ethereum Max a Scam?
No, Ethereum Max is probably not a scam despite having a name that makes it sound like a scam. To us, it appears that the token was created with the purpose of gaining a lot of value via hype similar to Shiba Inu coin.
When was Ethereum Max Launched?
EthereumMax was launched on May 16, 2021. The price basically went vertical a few weeks later due to a large marketing push by the development team.
Is Ethereum Max a Good Investment?
Earlier this year we would have said Ethereum Max is a terrible investment. However, 2021 has certainly been the year of memecoins with Doge Coin and Shiba Inu Coin both hitting all time highs and even breaking the top 10 of cryptocurrencies by market cap.
Now, Ethereum Max tries to be too serious whereas both Doge and Shiba Inu make it perfectly clear that their tokens only exist for fun.
Basically, projects that are literally memes have reached a market cap in the top 10 of cryptocurrencies. It is now impossible to rule out all but the most obvious rug pull crypto projects as possible moonshots.
A Simple Explanation of Ethereum
Ethereum is much different than EthereumMax. We will put it this way, people discussing Ethereum are discussing Ethereum and not EthereumMax.
The story has been told so many times that you probably know it by now. The basics are that the project was launched in 2015 as a competitor to Bitcoin, but not a direct competitor to Bitcoin.
Ethereum solved one of the major problems that Bitcoin had – a lack of smart contracts.
Now, you might be wondering what we mean by a smart contract.
Smart contracts are simply computer code that automatically executes when certain criteria are met. For instance, a smart contract can be programmed for gambling.
The money gamblers gamble before the event goes into a sort of escrow that is controlled by the smart contract, the results of the event are posted to the blockchain, and the winners are paid out their money automatically by the smart contract.
It’s a trustless system. You do not have to worry about being denied service for whatever reason – the smart contract only sees computer code.
Anyone can deploy a smart contract to the blockchain if they are willing to pay the gas (transaction) fees to do so. In fact, there is no effective way to censor anyone on Ethereum because the entire blockchain is so decentralized.
One last thing, Ethereum does have a native token called Ether. This is used to pay gas fees on the blockchain. Gas is used to transfer tokens and to interact with smart contracts. Ether tokens are created by miners solving math problems in order to validate transactions (proof of work consensus, same as Bitcoin).
People also hold Ether because the value always seems to go up. But people are missing out on the full use of the blockchain if they only hold Ether. The true strength of Ethereum is that anyone can deploy a smart contract to the blockchain.
That sums it up for the difference between Ethereum Max and Ethereum. The two are not related to each other in any official capacity. Ethereum Max is simply an ERC-20 on the Ethereum blockchain.
The project you want to invest in for the long term is certainly Ethereum. You can probably give Ethereum Max a pass as an investment.