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Ethereum Blockchain – The Ultimate Guide To Ethereum

by | May 14, 2019 | Blockchain Beginners, Featured, Infographic, Learn Ethereum | 0 comments

Check out this infographic that shows you everything you need to know about what Ethereum is, what Ethereum’s for, and how it works.

What is Ethereum?

Ethereum is a distributed public blockchain network.  An open-sourced software platform based on blockchain technology that enables anyone to build and deploy decentralized applications (DApps). It is one of the most recognized blockchains in existence today alongside Bitcoin.

What is Ether

Ether is the cryptocurrency that fuels the network on the Ethereum Blockchain – It is used to pay for coding executions.

Who Created Ethereum?

Ethereum was first proposed as a concept in late 2013 by Vitalik Buterin. Vitalik was a cryptocurrency researcher and programmer at the time. It was officially announced in 2014 and released in July 2015. Vitalik has since become one of the most influential leaders within the cryptocurrency space.

What Can You Use Ethereum for?

Ethereum has a wide variety of use cases. It can be used to build financial applications, social networking apps, messaging systems with user-controlled data, online voting in distributed governance, and more. Ethereum enables user to build thousands of application on one blockchain platform and removes the barrier to entry in creating decentralized blockchain application.

Benefits of using Ethereum

Remove points of failure Global Network Preventing censorship Transparency Trust

TOP 5 apps currently being developed on Ethereum

Basic Attention Token – Digital Advertising MakerDAO – Interact with the Dai Credit System IDEX – Distributed exchange made of smart contracts MyCrypto Heroes – Hero worker placement RPG Ox – The protocol for trading tokens Others: MLM has released crypto baseball an online collectible store build on Ethereum.

How to get started with Ethereum

STEP 1: Set up an Ethereum Wallet
STEP 2: Visit a digital asset exchange website
STEP 3: Buy Ethers and sell Ethers
STEP 4: Download Ethereum blockchain to engage with smart contracts or DApps

Smart Contract

A term used to describe an Ehereum application that facilitates the exchange of money, content, property, shares, or anything of value.

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