What is Ethereum? | Beginner's Guide
What is Ethereum (Bitcoin's biggest competitor)? What does Ethereum blockchain allow? in this article we will try to answer these questions.
What is Ethereum? | Beginner's GuideWebsite: https://ethereum.org/
Ethereum was initiated by the Russian programmer Vitalik Buterin at the end of 2013. He came with the idea of creating a network that will enable the creation of decentralized applications. The entire blockchain was launched on July 30, 2015. The Ethereum platform is also used to conclude Smart Contracts, which are created using "SOLIDITY" programming language. The whole network works thanks to users and is called EVM (Ethereum Virtual Machine).Ethereum Wallets:
- Geth (Go-ethereum) - core wallet which is also an Ethereum node for Windows / Linux / OSX
- Jaxx - wallet for Windows / Linux / OSX also adapted for mobile devices on Android / iOS systems
- Ethos - mobile wallet available on iOS, as well as on android. Ethos also allows you to store ERC-20 tokens
- Ethereum is supported by three of the most known hardware wallets: Ledger, Trezor and Keepkey
What is the difference between Bitcoin and Ethereum?
Bitcoin blockchain is used to generate currency and for payments, while the Ethereum network is used to create Smart Contracts and create decentralized applications. The Ethereum protocol is an excellent environment for creating new and innovative solutions for companies that want to ensure maximum security resulting from decentralization and ease of database reconstruction.
|Excavated coins||17 124 312 BTC||100 931 804 ETH|
|Speed of confirmation||9m 44s||15s|
|Amount of blocks||529 945||5 974 344|
|Reward for block||12.50 BTC||3.5 ETH|
|Size of blockchain||203.58 GB||20 GB GB|