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 a programmable blockchain. It means that people can use Ethereum to create their own decentralized applications.
These are sometimes called Dapps.
What makes Ethereum different from Bitcoin?
Bitcoin was first and it is the most well-known cryptocurrency. Ethereum is second. Both are digital currencies, but they have different purposes.
Bitcoin was created to be a peer-to-peer electronic cash system. Ethereum was created to be a decentralized platform that runs smart contracts.
NOTE: WARNING: Ethereum is not the same as Bitcoin. Ethereum is a cryptocurrency and blockchain platform, while Bitcoin is a cryptocurrency only. They are based on different technology and their prices and value can differ vastly. Do not assume that investing in one will guarantee success for the other.
How do they work?
Bitcoin is a cryptocurrency and a payment system. People can use Bitcoin to buy things or send money to each other.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
What can you do with Ethereum?
With Ethereum, you can write code that controls money, and build applications accessible anywhere in the world.
How does Ethereum compare to Bitcoin?Bitcoin and Ethereum are both digital currencies, but they have different purposes. Bitcoin was created to be a peer-to-peer electronic cash system, while Ethereum was created to be a decentralized platform that runs smart contracts.
While both platforms have their own advantages and disadvantages, it’s important to remember that they serve different purposes.
4 Related Question Answers Found
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 also a cryptocurrency, which can be used to pay for goods and services, or to trade like any other currency. The native currency of the Ethereum network is called ether.
An ICO, or Initial Coin Offering, is a fundraising method where new projects sell their underlying crypto tokens in exchange for bitcoin and ether. It’s somewhat similar to an Initial Public Offering (IPO) where investors purchase shares of a company. ICOs have become a popular way to fund cryptocurrency projects and have raised over $1 billion dollars in the last year.
This is a question that has been on the minds of many investors recently. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent ownership of property.
There is no doubt that Ethereum has been a game changer in the world of cryptocurrency. In less than two years, it has become the second largest blockchain platform after Bitcoin, with a market capitalization of over $1 billion. But what is Ethereum and what makes it so special?
