Don’t get mixed up between Ethereum and Ether. Ether is the native token that people trade in, Ethereum the underlying blockchain network. Ether is traded as a virtual coin like other Altcoins. It is also used inside the Ethereum network to run applications. Moreover, it can be used to monetize the work done inside the platform.
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Ethereum platform is an open-source
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Ethereum allows users to work for it or build off it using Solidarity, the network’s programming language. Using this language, developers can create their own cryptocurrency and Dapps without downtime, fraud, regulation, or interference from third parties. The Ethereum community is ready to assist those willing to work with them. It is alleged that the…
It is more than just a cryptocurrency
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Perceiving Ethereum as simply another cryptocurrency is ignorance. Its role surpasses that of the average Altcoin. It is an entire platform that supports decentralized applications, and it has its tokens. What’s more interesting is that it allows developers and users to issue their own digital items within the network. For clarity, Ethereum is a crypto…
Smart Contracts
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These peer-to-peer contracts act as a means of collateral. The main goal of Ethereum services was to support smart contract deals. The smart contract eliminates the need for intermediaries, thus optimizing the system. Smart contracts have enabled the renewal and closure of incapacity to work certificates in the healthcare system and prescription of drugs. ERC-20…
Ethereum is not bound by limits like Bitcoins
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Bitcoin remains the most recognized virtual coin, but the growth of Ethereum seems to be closing in on it. Bitcoin’s market cap is known to have a fixed amount of available currencies. The goal of Bitcoins is to mine 21 million coins, then no more. Ethereum does not have an actual cap. It’s only limit…
Ethereum is switching to Proof of Stake
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Ethereum was a crowdfunded project
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Vitalik had the idea of Ethereum in 2013, but he did not have sufficient resources to make it a reality. He turned to crowdfunding, which became a success. In 2015, he managed to create and launch Ethereum that received public acceptance.