Ethereum and a million dollars for you
Ethereum- what is Ethereum? (ether)
Due
to the complexities in storing Ethereum in hardware or desktop computer
wallets, many are turning to online and mobile wallets for purchasing and
storing Ethereum.
The
available options are constantly changing. Check back regularly updated guide, for
step-by-step instructions on how to start investing in Ethereum and other
cryptocurrencies in minutes, right from your phone or computer.
Ethereum is essential a large world
computer and might and can change how we interact, just like the internet did,
about 20 years ago. And Like Bitcoin, it is based on a block chain, but
Ethereum is more than just a currency:
·
Transparent governance for
communities
·
Secure communications -
authentication, messaging,
·
Secure backbone for e-commerce and
the Internet of Things
·
Secure payments
·
Integrated development environment
for debugging, development and deployment of Ethereum applications
·
Free software - all released under
the General Public Licence (GPL)
Ethereum-Bitcoin are both crypto’s
whose ledgers are stored on a distributed blockchain database like this. The
thing that makes Ethereum special, as opposed to other cryptocurrency that uses
blockchain technology, is that you can execute code on the blockchain in this
same distributed way. So now, instead of just using the blockchain as a
glorified ledger, you can do something like specify conditions under which a
person will be paid, and once those conditions are met the money will
automatically go to the person without any outside interference (and despite
anything that happens to one computer involved in the network). People call
these chunks of code 'smart contracts', because it's code that represents an
agreement that can enforce and execute itself.
Blockchains are a way for many
different people or computers to agree on something even though they don't know
or trust each other. Ethereum uses the same idea, but instead of just
keeping track of payments, you keep track of computer programs. These computer programs can still be used to
track money if you want. But they can also be used for many other things, like
deciding whether someone is allowed to drive a car or who has won an election.
At any given time, everyone knows exactly what the computer programs are doing,
even if someone tries to lie and pretend something different is happening.
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