When it comes to cryptocurrency, ether and Ethereum are often used interchangeably. However, they are not the same thing. Ether is the cryptocurrency used within the Ethereum network.
Ethereum is a decentralized platform that runs smart contracts. Let’s take a closer look at the difference between ether and Ethereum.
Ether is the native cryptocurrency of the Ethereum network. It is used to pay transaction fees and fuel smart contracts within the network.
Ether is similar to other cryptocurrencies, such as Bitcoin and Litecoin, in that it can be traded on exchanges and used to purchase goods and services.
However, ether has unique features that make it different from other cryptocurrencies. For one, ether is not mined like Bitcoin. Instead, it is created through a process called staking.
NOTE: WARNING: Ether and Ethereum are NOT the same thing. Ether is the currency used to pay for transactions on the Ethereum network, while Ethereum is a platform which uses Ether as its own currency.
Stakers earn rewards for validating blocks of transactions on the Ethereum network. In addition, ether can be used to pay for transaction fees on the network.
Ethereum is a decentralized platform that runs smart contracts. These contracts are programs that run exactly as programmed without any possibility of fraud or third party interference.
Smart contracts are often used to create decentralized applications (dapps).
Dapps are applications that run on the Ethereum network. They are often open source and allow anyone to use or contribute to them.
The most popular dapp is CryptoKitties, which allows users to breed and trade digital cats.
So, while ether and Ethereum are two different things, they are closely related. Ether is the currency used within the Ethereum network while Ethereum is the decentralized platform that runs smart contracts.
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Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is built on a blockchain, similar to the Bitcoin blockchain. However, the Ethereum blockchain is more versatile than the Bitcoin blockchain because it can run smart contracts.
When it comes to cryptocurrency, Ethereum and Ether are often used interchangeably. However, they are two very different things. Ethereum is a decentralized platform that runs smart contracts, while Ether is the native cryptocurrency of the Ethereum blockchain.
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Ethermon is a decentralized game built on the Ethereum blockchain that allows players to catch, train, and trade digital monsters. It is one of the first games to use non-fungible tokens (NFTs), which are stored on the Ethereum blockchain and can be traded on decentralized exchanges. The game was created by Dapper Labs, the same company behind the popular CryptoKitties game.
In the cryptocurrency world, the terms “Ether” and “Ethereum” are often used interchangeably. However, there is a big difference between the two. Ether is the native cryptocurrency of the Ethereum network.
