Ethereum (ETH)

Ethereum

Ethereum is not cryptocurrency (digital money), such as bitcoins or litecoins. Ethereum is a network that can best be compared with the internet technology and data structure of Bitcoin, the Blockchain. The blockchain is the distributed ledger (the data structure) of all Bitcoin transactions performed. When talking about Ethereum as cryptocurrency, the following terms ETH, Ethers, Ether Tokens or Ethercoin apply, different names for the same currency Ether (ETH). Ethers can be traded on most cryptocurrency exchanges such as BTCdirect or Changelly.

Ether is more than cryptocurrency.

It can be considered as crypto-equity. Ethers are also programmable. Moreover, you need Ethers if you want to implement and use smart contracts and applications within Ethereum. They are necessary for use within the Ethereum ecosystem. You can also use ethers as a pure payment method. You need an Ether wallet to receive and send Ethers as a payment method.

Ethereum is more than a 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 use it to build an alternative peer-to-peer economy, among many other options. But everything starts with the smart contracts.

Ethereum works as a supercomputer for programming applications and organizations based on smart contracts. The smart contracts are programmed contracts that are fixed in the Ethereum blockchain and are executed on the basis of pre-programmed transactions to be carried out. The contracts are written in such a way that the parameters can be checked by all computers on the block chain. 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 of Ethereum. Hence: Ethereum is a programming platform without the intervention of third parties. As a decentralized programming platform, Ethereum is compared to a supercomputer that enables you to program “all over the world”. A transparent peer-to-peer economy and / or a decentralized financial system can easily be built on the basis of Ethereum.

How and for what is Ethereum used the most? Ethereum is currently used the most for launching all kinds of new blockchain startups and initial coin offerings for acquiring financing for the development of new decentralized applications. Many valuable decentralized applications are currently being developed. These are and will always be easily accessible for regular internet users thanks to the MetaMask browser extension! Ethereum has a very strong network effect and offers added value for new fintech companies and the ecosystem as a whole in all sorts of ways. All these companies need ethers to finance, launch, maintain and expand the developed dApps. Buying ethers (ETH) is also a very interesting investment from this point of view.