What is ethereum?

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Just like Bitcoin, ethereum is a kind of distributed public blockchain network

Do you want to know what ethereum is?  What is it utilized for? For beginners, it is the open software network which is based on the open chain technology which facilitates the developers to build up and also to deploy the decentralized applications. Just like the Bitcoin, the ethereum is a kind of the distributed public blockchain network but there are some of the technical differences between these two terms. One of the most crucial distinctions between the ethereum and Bitcoin is that both of these are differing a lot in the purpose as well as the capability. Bitcoin is providing one kind of application for the blockchain technology along with the peer to peer e-cash system which allows the online payments.

Ethereum blockchain focuses on running of programming code of any sort of decentralized application

The blockchain of Bitcoin is being utilized for tracking the ownership of Bitcoin (digital currencies).On the other hand, Ethereum blockchain focuses on the running of programming code of any sort of the decentralized application. The ethereum aims to be the world computer which wants to decentralize and also democratize the client-server model which exists in today’s time.

The ethereum aims to be the world computer which wants to decentralize and also democratize client-server model

With the help of it, all the servers, as well as the clouds, will be replaced with the thousands of the nodes which are being run by the volunteers from all over the world, thereby resulting in the formation of the world computer. The goal of ethereum is to impart the same kind of the functionality to the people from all over the world that let them compete and also to offer a range of provisions on top of the infrastructure.

Ethereum is not only limited to transactions but it is being created for powering smart contracts too

Well, the Ethereum is not only limited to the transactions but it is being created for powering the smart contracts too. So today we can say ethereum is a star in this world of cryptocurrency and quickly it is rising to the status of becoming the second largest digital currency in the world. Over a period of last two years, it has boomed in its value too. Well, it has been launched in the year 2015 and since then its value has increased manifold.

A few days back, it has toppled to around $1000 for the first time since its inception

Just before towards the end of the year 2017, the ethereum has pulled back from the cost of greater than $ 850 to $ 690 which is around 20% reduction but later it showed off some signs of recovery. A few days back, it has toppled to around $1000 for the first time since its inception. In the year 2017, there was a good hike in the cost of the ethereum along with various other rival crypto currencies like the Bitcoin as well as the Litecoin.

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