Decentralized Smart Contract Platform
Ethereum is programmable money, and introduced the ability for people to build decentralized applications on top of it’s network.
The Bitcoin network is secured by hundreds of thousands of nodes all over the world providing a higher level of resilience.
Trustless & Secure
The Ethereum network is one of the most secure blockchains in existence, with a large developer community continually improving it.
When it was released, Ethereum represented a fundamentally different way of interacting with blockchains and cryptocurrency; it enabled complex business logic and agreements to be coded into smart contracts, or programs that govern these concerns in an automated way. It remains one of the most proven platforms to this day.
Ethereum, the world computer.
Founded by a global community of developers and enthusiasts, born from a whitepaper drafted by Vitalik Buterin, Ethereum is a decentralized platform that runs smart contracts; that is applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
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How Does It Work?
Ethereum is a public blockchain just like Bitcoin that uses a Proof of Work (PoW) consensus algorithm to secure the network. If you are just trying to buy some Ethereum the following steps are all you really need to understand.
1. Get an Address
2. Buy Ethereum
3. Send Transactions
Who uses Ethereum?
As one of the top three cryptocurrencies in the world, Ethereum has a wide user base and large development community who support it. Here are a few familiar names who believe in Ethereum.
“Ethereum looks poised for a move to new highs. Lot’s of good news on the horizon.”
“The Ethereum blockchain has some extraordinary capabilities. One of them is that you can build smart contracts. It’s kind of what it sounds like. It’s a contract that self-executes, and the contract handles the enforcement, the management, performance, and payment”
It’s mind-boggling, I see the future as taking these out-there ideas and making them real.”
“Make no mistake – Ethereum would never have existed without Bitcoin as a forerunner. That said, I think Ethereum is ahead of Bitcoin in many ways and represents the bleeding edge of digital currency.”
“Ethereum exists because it enables developers to write smart contracts better than Bitcoin in the near-term. Zcash will exist because it will attempt to do privacy better than Bitcoin in the near-term, and the token gives you access to the anonymity protocol.”
Frequently Asked Questions
Do you still have questions about Bitcoin? We understand, there is a lot to take in when it comes to cryptocurrencies and blockchain. Here is a list of some of the most commonly asked questions about Bitcoin.
What is Ethereum?
Ethereum is an open blockchain platform that lets anyone build and use decentralized applications that run on blockchain technology. Like Bitcoin, no one controls or owns Ethereum – it is an open-source project built by many people around the world. But unlike the Bitcoin protocol, Ethereum was designed to be adaptable and flexible.
What are Ethereums’ advantages?
Payment freedom, choose your own fees, fewer risks for merchants, security and control, transparent and neutral transaction processing are among some of the top benefits of Bitcoin.
Can I make money with Ethereum?
You should never expect to get rich with Bitcoin or any emerging technology. It is always important to be wary of anything that sounds too good to be true or disobeys basic economic rules.
Is Ethereum based on Bitcoin?
Only in the sense that it uses a blockchain, which Bitcoin pioneered. Ethereum has a separate blockchain that has several significant technical differences from Bitcoin’s blockchain.
Do people use Ethereum?
Ether is used broadly for two purposes: it is traded as a digital currency exchange like other cryptocurrencies and is used inside Ethereum to run applications and even to monetize work. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.”
Why do people trust Bitcoin?
Yes, and significant minds in computer science and venture capital trust Ethereum at that. Companies like Microsoft, IBM, Oracle, Facebook and others have endorsed and supported the efforts of the Ethereum Enterprise Alliance.
Is Ethereum anonymous?
The short answer is, no. Ethereum transactions are publicly accessible as it is a public blockchain. Most registered exchanges require AML/KYC compliance. If you have already associated your wallet address with an identity on an exchange or similar service (like a credit card) all the transactions you execute are already traceable.
What’s the future of Ethereum?
Ethereum developers are planning a switch from a Proof-of-Work consensus model to a Proof-of-Stake consensus model in the future. They are also investigating scalability solutions.
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