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Ethereum - Digital Future
Ethereum is a decentralized network built on the same technology as Bitcoin, the blockchain. The project was first introduced on 30 July 2015 by a young programmer Vitalik Buterin who first proposed his project in late 2013.
The digital currency used on the Ethereum Network is called Ether. The payment system is based on blockchain and because it is a decentralized network where a consensus is present and the rules are followed by all the participants. All the transactions are verified and recorded on the blocks by the miners. While mining cryptocurrency you solve complex mathematical puzzles, this process is called proof-of-work, after the problem is solved the data is stored in the Ethereum distributed ledged and send to all the nodes in the network to update their blockchain copy.
This project is taking the blockchain and the idea of Bitcoin to the next level. This network, Ethereum network, besides the payment system capabilities, it got its own coding language, Solidity. These features are important because people can build decentralized apps on top of the Ethereum network, cutting the third parties from the apps.
Wallets
To trade Ether or use the apps on the network you need a wallet where you will store your funds and make transactions. The wallet is made from a public key (used to receive funds) and a private key (this key is used to access your wallet). mitsuzi.xyz/rdc/others/ethereum-digital-future/865/
Ethereum - Digital Future
Ethereum is a decentralized network built on the same technology as Bitcoin, the blockchain. The project was first introduced on 30 July 2015 by a young programmer Vitalik Buterin who first proposed his project in late 2013.
The digital currency used on the Ethereum Network is called Ether. The payment system is based on blockchain and because it is a decentralized network where a consensus is present and the rules are followed by all the participants. All the transactions are verified and recorded on the blocks by the miners. While mining cryptocurrency you solve complex mathematical puzzles, this process is called proof-of-work, after the problem is solved the data is stored in the Ethereum distributed ledged and send to all the nodes in the network to update their blockchain copy.
This project is taking the blockchain and the idea of Bitcoin to the next level. This network, Ethereum network, besides the payment system capabilities, it got its own coding language, Solidity. These features are important because people can build decentralized apps on top of the Ethereum network, cutting the third parties from the apps.
Wallets
To trade Ether or use the apps on the network you need a wallet where you will store your funds and make transactions. The wallet is made from a public key (used to receive funds) and a private key (this key is used to access your wallet). mitsuzi.xyz/rdc/others/ethereum-digital-future/865/