What is Ethereum ETH?

what is ethereum

If you’re interested in investing in Bitcoin you most likely will have heard about Ethereum and will be wondering what’s the difference between the two coins.

In this article we will provide you with a complete breakdown of Ethereum just so you can have confidence in this coin if you choose to invest in.

Ethereum 101

Started in 2014 by VItalik Buterin, Ethereum (ETH) is the #2 coin on the Crypto Currency Market today because most traders will either be purchasing Bitcoin or Ethereum before moving on to investing in other coins.

Unlike Bitcoins which can be mined, when users mine Ethereum they are given Ether for their mining efforts. Ether is a type of Crypto Token that fuels the Blockchain network.

I love this stuff – bitcoin, Ethereum, blockchain technology – and what the future holds. Abigail Johnson

Ethereum can be used just about anywhere online that Bitcoin can be used. Besides being used for a way to conduct financial transactions online, Ethereum is secure code that’s being proposed for many other uses in today’s world from healthcare to politics so it’s likely that we won’t just see it uses for payments in the near future.

Like Bitcoin, Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability. Bitcoin offers one particular application of blockchain technology, a peer to peer electronic cash system that enables online Bitcoin payments. While the Bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running the programming code of any decentralized application. – Blockgeeks.com

Where to Buy Ethereum Online

To purchase Ethereum online you’re going to need a digital wallet with a company like Coinbase and some coins in your account to purchase Ethereum.

Right now, one Ethereum is worth about $175.00 so it’s certainly one of the most affordable counts on the market today

What are your thoughts on Ethereum? Feel free to leave us a comment below!

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