Ethereum and Ether

Until relatively recently, blockchain applications required complex coding, cryptography and mathematics. And before Ethereum, blockchain applications like Bitcoin and other crypto currencies, were developed exclusively to operate as peer-to-peer digital currencies.

Ethereum is a programming platform, which enables developers to build and deploy decentralized applications for finance (like digital currencies), but also games, electronic voting, digitally recorded property assets, social networks, regulatory compliance – and pretty much anything else.

What is the difference betweek Bitcoin and Ethereum?

Both Bitcoin and Ethereum are distributed public blockchain networks. But while Bitcoin is essentially a crypto currency, the Ethereum blockchain runs the programming code of decentralized applications. Ethereum miners work to earn Ether, a type of crypto token, which is not only a crypto currency but is used by application developers to pay for services on the Ethereum network.

What is the value of Ether?

Ether is the “money” used for payment on the Ethereum Network. Unlike Bitcoins, the same amount of new Ethereum will continue to be produced every year. Eventually, the amount produced every year will become a smaller percentage of the total outstanding Ether until an equilibrium is reached.

Most cyber currencies are built on the Ethereum platform. The other big platform is Omni, which is built on the Bitcoin blockchain.

You can trade Ether from most digital currency exchanges.

 

September 5th, 2017 by VK-edit