Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). Ethereum is often referred to as a “world computer” because it allows developers to build and deploy applications on the platform.
Bitcoin and Ethereum are both distributed ledger technology (DLT) platforms, but they have some key differences. Bitcoin was designed primarily as a store of value and a peer-to-peer electronic cash system, whereas Ethereum was designed to be a decentralized platform that enables the creation of smart contracts and dApps.
It’s not really accurate to say that one is “better” than the other, as they were designed to serve different purposes. Both Bitcoin and Ethereum have their own strengths and weaknesses, and which one is better for you really depends on your specific needs and goals.
Here are a few interesting facts about Ethereum that the average person may not know:
- Ethereum was co-founded by Vitalik Buterin, a young programmer who was just 19 years old when he proposed the idea for Ethereum in 2013.
- Ethereum has its own programming language, called Solidity, which is used to write smart contracts and dApps on the platform.
- Ethereum was the first blockchain platform to enable the creation of smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
- Ethereum is not just a platform, it’s also a programming language (Turing complete) running on a blockchain, which helps developers build and deploy decentralized applications.
- The Ethereum network is powered by a native cryptocurrency called Ether (ETH), which is used to pay for transaction fees and services on the network.
- Ethereum has been used to create a wide variety of decentralized applications, including prediction markets, supply chain management systems, and even a decentralized ride-sharing service.
- Ethereum has a more flexible and expressive programming language than Bitcoin, which has allowed it to become a platform for a much wider variety of decentralized applications.
