Understand Ethereum Before You Regret.
Ethereum and it's some important points.
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| Ethereum |
For many of you who are familiar with cryptocurrency must be familiar with Bitcoin and the Ethereum.
Bitcoin is the most famous and first Cryptocurrency.
While second largest and most traded cryptocurrency is ETHEREUM.
What is Ethereum
Ethereum is Decentralized, Global System of payment and platform for new kinds of digital innovations & Application.
Ethereum is community generated technology of cryptocurrency.
To understand about Ethereum, you must have basic understanding of Digital money or Digital currency.
What is digital currency ?
Digital currency refers to any payment mode that is in electonic form. The currency is not in physical form like dollar, rupees & coins but digital money is in digital form that works usnig technologies.
Common Examples of digital Money-
- Credit cards
- Cryptocurrency.
Cryptocurrency is complete digital currency that based on Blockchain Technology.
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| Cryptocurrency |
Some Examples of cryptocurrency-
- Bitcoin
- Ethereum
- Solana
- Ripple,
- CARDANO
- Polkadot
Important points to know about Ethereum
ETHEREUM:- It is one of famous cryptocurrency that works as peer to peer network of system.
Peer to Peer network is a system that allows users to send and recive payments directly without any central authority and thrid party.
Similarly, Ethereum follows P2P network that allows you to transfer payments digitally directly. There will be no need to go through any agreements or intermediate companies.
What is ETH:-
Ethereum is complete open source Blockchain system while ETH (ether) is it's feature Cryptocurrency.
What Ethereum allows to users?
Ethereum is complete Decentralized source that provide benefits to both users as well as creators.
A. Built in products and application-
Ethereum allows users to not only transfer payment, infact it also create Digital system and technology that allows users to built products and applications. Many cryptocurrencies are also base on Ethereum Blockchain.
B. Ethereum provide platform to Artists-
Artists can bring their work to Ethereum Blockchain. Digital Artists can create arts, innovative applications.
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| Ethereum provide platform to NFTs. |
One of the best example is Non Fungible token ie NFTs.
Founders of Ethereum -
Eth has 8 co-founder
Vitalik Buterin - He is best known for Ethereum.
Gavin wood - He is second most important co-founder of Ethereum.
Other co-founders are-
Anthony Di Iorio,Charles Hoskinson, Mihai Alisie, Joseph Lubin, Di Iorio, Amir Chetrit.
Ethereum Whitepaper:-
To read more about Ethereum whitepaper.
Click here
Ethereum whitepaper was published in 2013 by Vitalik Buterin.
PURPOSE Of Ethereum:-
Ethereum enables P2P. Transactions.
Ethereum platform allows uses to create,publish and monetize wide range of application on Ethereum platform. Ethereum allows to create Crypto, Base on ETH BLOCKCHAIN TECHNOLOGY.
Can Ethereum be good investment?
Ethereum can be good investment for long term. If you can tolerate high risk and volatility as Crypto is high risk and high returns game so it completely depends on your research knowledge and information that you wanna Invest your money in that particular Crypto token.
Where you can buy Ethereum?
Ethereum can be buy on crypto exchanges, including CoinBase, Kraken, Binance, and by brokerages like Robinhood.
Similarities between Bitcoin and Ethereum
Bitcoin and Ethereum both based on Blockchain technology.
BTC and ETH, both could be stored in digital wallet.
Bitcoin and Ethereum both are Decentralized cryptocurrency.
Decentralized means there is no centralised or financial authority involved in digital transactions.
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Writer - Simran Bhardwaj