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What is Ethereum?
Ethereum has become the second most popular and valuable cryptocurrency available and this has turned it into the most valuable and important investment in this market. A lot of people are wondering about this particular coin and its origins, so we are going to get into that and we are going to give you the best possible explanation to ensure that you have enough information to make an informed decision in case you are looking to invest.
What is the Ethereum cryptocurrency?
While Bitcoin is now the most popular due to the huge success it has gained and the value rise in the last few months, another cryptocurrency has started to gain plenty of attention. This is Ethereum, the second virtual currency in terms of relevance if we rely on their value. Ethereum is on the rise and there seems to be no stopping it while other cryptocurrency have fallen behind.
FOMO – Fear Of Missing Out
The rise in the price creates the fear of losing the opportunity to gain benefits from this. Investments in Ethereum have multiplied and things are looking very positive for Ethereum owners, although you never know what could happen in the near future. If you still don’t know exactly what is the Ethereum is, you will find it easier to understand with the following information.
Ethereum is a platform before anything else. The name of the currency was originally just “Ether”, although at the present time are used both names interchangeably due to the popularization of the same. Ethereum was developed by Russian programmer Vitalik Buterin that, unlike Satoshi Nakamoto (the name that appeared on the internet the creator of the Bitcoin, whose identity is not known and that is probably a group of people instead of an individual), is an identifiable person who is more than happy to let everyone know he create this cryptocurrency.
The true purpose of the creation of Ethereum are the contracts, which are nothing but a way to ensure safety. Through their use, subject to the consent those involved, it is the platform which is responsible for the implementation of prescribed and agreed when the conditions for it. In very general terms, the idea would be how to establish a program executor so that every transaction that is made for is as safe and secure as possible within the network.
Ethereum uses blockchain technology. The same used for Bitcoin. This method is used in the majority of virtual currencies, although some of them work differently. There are some differences between Bitcoin and Ethereum, but what is certain is that both work and they are obtained in a similar way. Under the blockchain method and through mining. The biggest difference is that there is a maximum number of Bitcoin which can be issued and Ethereum is not limited at all.
The truth is that Ethereum has a lot to offer and there are many individuals that believe it will be stronger than Bitcoins at some point in the future. We just have to wait and see how things unfold.