How does Ethereum differ from Bitcoin (and other cryptos!)

ethereum investment

Ethereum is not a cryptocurrency (digital money), such as the known bitcoins or the litecoins. Ethereum is primarily a network that you can best compare with the internet technology and data structure of Bitcoin: the Blockchain . The blockchain or blockchain is the distributed ledger (the data structure) of all executed transactions. We will discuss the Ethereum blockchain in detail in this article.Before we present the table of contents, we give a brief summary here.

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When talking about Ethereum as cryptocurrency or Ethereum transactions , the following terms apply: ETH , Ethers , Ether Tokens or Ethercoin . They are different names for the same currency Ether (ETH) . Ethers can be traded on most cryptocurrency exchanges such as Coin Base or Changelly .

ethereum rundown

Ether is more than cryptocurrency . It can be considered as crypto-equity . The use of Ethers is necessary if you want to implement and use smart contracts and applications within Ethereum . Ethers can also be used as a purely external payment method, a cryptocurrency. To receive and send Ethers as a payment method, you need an Ether wallet .

Ethereum is more than a blockchain . It is a very flexible, easy to program blockchain. The Ethereum blockchain has its own easy-to-learn programming language: Solidity . Solidity is a Turing-complete programming language , with which you can easily write smart contracts and decentralized applications (DAPPs) in the Ethereum Blockchain. Ethereum is a programmable block chain. You can build an alternative peer-to-peer economy , among other possibilities. But everything starts with the smart contracts .

It works as a supercomputer for programming applications and organizations based on smart contracts. The smart contracts are programmed contracts that are fixed in the blockchain and are executed on the basis of pre-programmed transactions to be executed. The contracts are written in such a way that the parameters can be checked by all computers on the blockchain. With the help of a good Ethereum programming course , you can easily program smart contracts and applications in the network. Within Ethereum you are quickly able to program everything you want when you understand the principles. Hence: Ethereum is a programming platform without the intervention of third parties. As a decentralized programming platform, Ethereum is compared with a supercomputer that enables you to program ‘all over the world’ . On the basis of Ethereum, a transparent peer-to-peer economy and / or a decentralized financial system can easily be built up.


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