Ethereum (ETH) is a decentralized, open-source blockchain system with smart contract functionality. It was proposed in 2013 by Vitalik Buterin and officially launched in 2015. Ethereum is not just a cryptocurrency but a platform for developers to build decentralized applications (DApps). Here's everything you need to know:
1. How Ethereum Works
Ethereum operates on a blockchain, just like Bitcoin. However, it’s more versatile because it supports smart contracts—self-executing contracts where the terms are written into code.
2. Key Features of Ethereum
Smart Contracts: These enable automation of agreements without needing a third party.
Decentralized Applications (DApps): Developers use Ethereum to create applications for finance, gaming, and more.
Ether (ETH): The cryptocurrency used to pay for transactions and services on the Ethereum network.
3. Difference Between Ethereum and Bitcoin
Purpose: Bitcoin is mainly a digital currency, while Ethereum is a platform for building decentralized apps.
Speed: Ethereum transactions are generally faster than Bitcoin’s.
Supply: Bitcoin has a fixed supply (21
