0:52
expert
June 13, 2022
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what is ethereum?

Ethereum (ETH), like Bitcoin (BTC) and other cryptocurrencies, is a digital currency that can be transferred via peer-to-peer (P2P) payment. It can, however, do a lot more, including deploying your own code and interacting with apps made by other users. ETH may be used to launch a wide range of sophisticated programmes because of its flexibility.

Scalability, programmability, security, and decentralisation are all features of ETH. It is the blockchain of choice for developers and businesses using it to build technology that will transform the way many sectors run and how we go about our daily lives.

ETH's core notion is that developers can design and launch code that operates over a distributed network instead of existing on a centralised server. This means that these applications cannot be disabled or censored in theory.

ETH functions on a hybrid Proof of Work (PoW) and Proof of Stake (PoS) model; it differs to BTC in this way, as it does not fully rely on algorithm solving in order to function. Instead, transactions are validated via staking: where ETH holders can lock their tokens for an agreed period of time - with the more coins being staked equalling a higher chance of being selected as the ‘validator'. This system randomly selects a validator, rather than requiring a network of computers competing to solve a puzzle, like BTC's PoW model. It has come under praise recently as it is significantly more environmentally friendly to mine ETH than BTC.

*The content hereby presented is for informational purposes only. Nothing of this content that is available to you shall be considered as financial, legal or tax advice. Please, keep in mind that trading cryptocurrencies pose a considerable risk of loss.

*The content hereby presented is for informational purposes only. Nothing of this content that is available to you shall be considered as financial, legal or tax advice. Please, keep in mind that trading cryptocurrencies pose a considerable risk of loss.

what is ethereum?

Ethereum (ETH), like Bitcoin (BTC) and other cryptocurrencies, is a digital currency that can be transferred via peer-to-peer (P2P) payment. It can, however, do a lot more, including deploying your own code and interacting with apps made by other users. ETH may be used to launch a wide range of sophisticated programmes because of its flexibility.

Scalability, programmability, security, and decentralisation are all features of ETH. It is the blockchain of choice for developers and businesses using it to build technology that will transform the way many sectors run and how we go about our daily lives.

ETH's core notion is that developers can design and launch code that operates over a distributed network instead of existing on a centralised server. This means that these applications cannot be disabled or censored in theory.

ETH functions on a hybrid Proof of Work (PoW) and Proof of Stake (PoS) model; it differs to BTC in this way, as it does not fully rely on algorithm solving in order to function. Instead, transactions are validated via staking: where ETH holders can lock their tokens for an agreed period of time - with the more coins being staked equalling a higher chance of being selected as the ‘validator'. This system randomly selects a validator, rather than requiring a network of computers competing to solve a puzzle, like BTC's PoW model. It has come under praise recently as it is significantly more environmentally friendly to mine ETH than BTC.

*The content hereby presented is for informational purposes only. Nothing of this content that is available to you shall be considered as financial, legal or tax advice. Please, keep in mind that trading cryptocurrencies pose a considerable risk of loss.

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