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The World Knows About Bitcoin, But What ABout #2 Ethereum...??
Published by Chre Majano — 6-3-2017 at 4:43 PM UTC
What is Ethereum?
Ethereum is not a cryptocurrency (digital money), such as bitcoins or litecoins. Ethereum is a network that best compares to Bitcoin's technology and data structure, the blockchain.
The blockchain is the distributed ledger (the data structure) of all Bitcoin transactions performed. When talking about Ethereum as a cryptocurrency, then the following terms ETH, Ethers, Ether Tokens or Ethercoin apply, different names for the same currency Ether (ETH). Ether is more than cryptocurrency. It is crypto-equity, that is, Ethers are fully programmable.
You need Ethers when you want to implement smart contracts and applications within Ethereum. You can also use Ethers as a means of payment. To receive and send Ethers as a payment method, you will need an Ether wallet.
Ethereum is more than one blockchain. The Ethereum blockchain features its own, easy-to-learn programming language: Solidity. Solidity is a Turing-complete programming language, which makes it easy to write smart contracts and decentralized applications (DAPPs) in the Ethereum Blockchain. You can build an alternative peer-to-peer economy, among other things, next to many other possibilities. But everything starts with the smart contracts. These are programmed contracts that are recorded in the Ethereum blockchain and run on the basis of pre-programmed transactions to be executed. The contracts are written in such a way that the parameters can be checked by all computers on the blockchain.
Using a good Ethereum programming course, you can easily schedule smart contracts and applications in the network. Within Ethereum, you are quickly able to program everything you want, when you understand the principles of Ethereum. Hence: Ethereum is a programming platform that makes it easy for you to build a transparent peer-to-peer economy and / or a decentralized financial system. Without the intermediary of third parties.
As a decentralized programming platform, Ethereum is compared to a supercomputer that allows you to program 'all over the world'.
Ethereum based ico's and dappsEthereum is currently used most for launching all kinds of new blockchain startups and initial coin offerings for acquiring of funding for the development of new decentralized applications. Many valuable decentralized applications are currently being developed. These are and will always be easily accessible to regular Internet users thanks to the MetaMask browser extension!
Ethereum has a very strong network effect and offers an added value to new fintech companies and the ecosystem as a whole in all possible ways. All these companies need ethers to finance, launch, maintain and expand the developed dApps.
The purchase of ethers (ETH) is also a very interesting investment from this point of view.
Learn all about Ethereum, Bitcoin and other altcoin at iCoinPro and thank me later ;-)
About Chre Majano
Hi, my name is Chre Majano and i'm from the Netherlands. My main focus is in the crypto industry. That's why they call me a Crypto Hoarder ;-)