The cryptocurrency seems massive right now as the prices of coins keep rising.
The cryptocurrency has grown massively over the past year, with some coins increasing by more than 1,000 percent.
Bitcoin isn’t the only currency in the game. Ethereum is now one of the most actively used blockchains and one of the most expensive cryptocurrencies on the market.
But what is Ethereum and why is it suddenly so popular and what makes it different from other cryptocurrencies out there?
If you’ve been considering checking out Ethereum and have no idea what makes it stand out, we’ve decided to cover some of the key differences you should know and the basics of Ether.
What is ethereum
Ethereum is currently the second largest cryptocurrency in terms of market capitalization.
Like other cryptocurrencies, it is a decentralized currency and continues to be used for many applications. Ethereum itself is a platform and the currency used as an incentive for the network is Ether.
It was founded by Vitalik Buterin who was the founder of Bitcoin Magazine at the time.
One thing that makes Ethereum unique is the use of smart contracts. With Ethereum, anyone can create an app to access the Ethereum internet and create applications that allow access to this blockchain that Bitcoin cannot run.
With Ethereum, many users can access blockchains, a database, to store information about transactions, and users can access that data much more easily.
That’s just a scratch on the surface of Ethereum and if you’re really interested in reading more, Coindesk breaks the concept down even more so that you can really take care of it.