What is Ethereum?

Ethereum is currently considered by many to be a competitor to Bitcoin. This is because there are quite a lot of enthusiasts of this cryptocurrency, especially since the price of these crypto-assets has increased in recent times. But unfortunately, some crypto activists do not know about this type of cryptocurrency. That’s why if you want to make a profit, we recommend understanding the following discussion.

A Brief About Ethereum

First of all, let’s first discuss the meaning of this type of cryptocurrency. It can be said that it is an open-source platform based on blockchain which will be used in cryptocurrencies. Moreover, this currency was created on the innovation of Bitcoin, by mentioning some big differences even though they are both blockchain-based digital currencies.

It can also be seen that Ethereum is not the name of the cryptocurrency Line, it is the name of the cryptocurrency, namely Ether (ETH). Moreover, the government or companies do not regulate or control the supply of ETH. Many people today use green open space as a method to make payments, as collateral, and as a store of value. If you want to carry out this investment, you must use an application that runs on a platform-specific cryptographic token, Ether.

The difference with Bitcoin

Then what is the difference with Bitcoin? Bitcoin is a platform that relies on a storage system of value whereas Ether does not. Because Ether has a feature called smart contracts. It can be seen that transactions using Ether are of course not only independent of the financial authority but also guaranteed by the contract.

The difference between the two can be seen from the mining process, bitcoin uses sophisticated computers and large electrical power, while ether does not. Because please note that in doing mining they hold the most share ownership. It is not surprising that Ethereum is currently more in demand when compared to Bitcoin.

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