What is Ethereum? | Beginner's Guide

What is Ethereum? | Beginner's Guide

What is Ethereum (Bitcoin's biggest competitor)? What does Ethereum blockchain allow? in this article we will try to answer these questions.

What is Ethereum? | Beginner's Guide

Website: https://ethereum.org/
github: https://github.com/ethereum
twitter: https://twitter.com/ethereumproject
facebook: https://www.facebook.com/ethereumproject/
Youtube: https://www.youtube.com/user/ethereumproject

Blockchain explorers:

Ethereum was initiated by the Russian programmer Vitalik Buterin at the end of 2013. He came with the idea of creating a network that will enable the creation of decentralized applications. The entire blockchain was launched on July 30, 2015. The Ethereum platform is also used to conclude Smart Contracts, which are created using "SOLIDITY" programming language. The whole network works thanks to users and is called EVM (Ethereum Virtual Machine).

Ethereum Wallets:
  • Geth (Go-ethereum) - core wallet which is also an Ethereum node for Windows / Linux / OSX
  • Jaxx - wallet for Windows / Linux / OSX also adapted for mobile devices on Android / iOS systems
  • Ethos - mobile wallet available on iOS, as well as on android. Ethos also allows you to store ERC-20 tokens
  • Ethereum is supported by three of the most known hardware wallets: Ledger, Trezor and Keepkey

What is the difference between Bitcoin and Ethereum?

Bitcoin blockchain is used to generate currency and for payments, while the Ethereum network is used to create Smart Contracts and create decentralized applications. The Ethereum protocol is an excellent environment for creating new and innovative solutions for companies that want to ensure maximum security resulting from decentralization and ease of database reconstruction.

Bitcoin Ethereum
Excavated coins 17 124 312 BTC 100 931 804 ETH
Speed of confirmation 9m 44s 15s
Amount of blocks 529 945 5 974 344
Reward for block 12.50 BTC 3.5 ETH
Size of blockchain 203.58 GB 20 GB GB
Algorithm SHA256 Ethash
The values in the table may change.