Ethereum was created as a result of the limitations of the Bitcoin network. While Bitcoin allows for peer-to-peer electronic cash transfers, it does not have the ability to process smart contracts.
Ethereum was created in order to fill this void.
Smart contracts are essentially programs that run on the blockchain. They can be used to automate transactions and enforce agreements between parties.
Ethereum’s smart contracts are programmable, meaning that they can be customized to fit the needs of any user.
The flexibility of smart contracts is one of the main reasons why Ethereum has become so popular. Developers can create applications (dapps) that run on top of the Ethereum network.
These dapps can be used for a wide variety of purposes, from financial services to social media and gaming.
The Ethereum network is also much more scalable than Bitcoin. This is due to its use of sharding, which is a type of partitioning that breaks the blockchain into smaller pieces.
This allows each node in the network to only process a small portion of the overall transaction data, which makes the network much more efficient.
Ethereum’s popularity has grown exponentially in recent years. This is due in part to the rise of Initial Coin Offerings (ICOs).
ICOs are a way for startUPS to raise funds by selling tokens that can be used on their platform. Many startUPS have raised millions of dollars through ICOs on Ethereum.
The rise of ICOs and dapps has led to an increase in demand for ETH, which has driven up its price. Ethereum is currently the second-largest cryptocurrency by market capitalization, behind only Bitcoin.
Why was Ethereum created? To provide a blockchain platform that supports smart contracts and is more scalable than Bitcoin.